Retail Crowd

Complete British News World

Index – Economy – The world is armed and there are big winners

Kathy Warden, CEO of Northrop Grumman, provided good and bad news: she expects greater demand for weapons systems, but problems in the global supply chain could negatively affect the expansion of its production.

The question now is how can we expand production to replenish stocks

– The CEO of the Financial Times said Report Based on.

Large companies are now expected to boost production to meet the growing demand from the US and European governments. On the other hand, they have supply problems, labor shortages and inflation problems, all of which may hamper efforts to increase production.

Raytheon CEO Greg Hayes said it’s proven difficult to find new sources of non-Russian titanium and that the electronics of the Stinger rocket need to be redesigned because “some of the necessary parts are no longer commercially available.”

The Stingers and Javelins – both shoulder-fired missiles – have become symbolic weapons of the conflict in Ukraine. These defense forces are used most often against Russian personnel carriers and helicopters. A quarter of US Stinger stocks have been moved to Ukraine, according to Mark Kansian, a former Pentagon official. The US President recently traveled to the Lockheed plant to promote Javelins.

The United States has so far sent more than 5,500 anti-tank missiles to Ukraine.

“Globally, a paradigm shift is underway in terms of national security, and many of our allies have pledged to increase their defense spending as a result,” said Kathy Warden. According to Northrop CEO Grumman, this will allow them to increase their revenue at an accelerated pace in 2023.

READ  He can go to a labor camp for fifteen years to smuggle K-pop to North Korea

The international situation is also hot

German Chancellor Olaf Schulz recently upset his country Decades of Defense Policy: announces the creation of a €100 billion military fund and pledges to increase its military spending to 2 percent of annual GDP, which is also required by NATO.

The $773 billion defense budget for 2023 proposed by the Biden government is expected to rise further before it is approved by Congress as the range of potential security threats widens and becomes more complex. According to the Stockholm International Peace Research Institute, the United States was the largest military spender in 2021,

38 percent of global defense spending was spent, exceeding $2 billion for the first time.

Arms purchase agreements account for 58 percent of Pentagon spending, the highest level in 20 years. That’s $421 billion, of which 36 percent went to the Big Five, up from 19 percent in 1990.

European arms manufacturers have a wide range of supplies, but experts say there is not enough industrial capacity to reach the level of arms production required to meet demand. Thus, European governments are shackled American companies in order to develop a new arsenal.

(Cover photo: Australian soldiers fire a Javelin missile on May 9, 2019. Photo: William West/AFP)