Many Western arms companies failed to ramp up production in 2022 despite a strong increase in demand for weapons and military equipment.
- Labor shortages, soaring costs, and supply chain disruptions had been exacerbated by Russia’s invasion of Ukraine.
Of the 42 U.S. companies in the top 100 arms companies — accounting for 51% of total arms sales — feel by 7.9% in 2022.
- That said, new contracts signed, notably for ammunition, could translate to higher revenue in 2023 and beyond.