Czech weapons manufacturers report record sales related to the war in Ukraine and heightened global tensions, Euractiv informs.
Some of the largest Czech companies in the arms sector announced peak sales last year, with Colt CZ’s revenue totalling almost 600 million euros, according to Czech media.
The overall production output at some enterprises has increased about tenfold over the past two years. Most of the STV Arms Group’s supplies go to Ukraine either directly or through European and US government programmes. The Czech Army and other NATO armies also receive its products.
Omnipol and Czechoslovak Group (CSG) thrived in 2023. The production of large-calibre ammunition and military ground vehicles contributed significantly to the companies’ recent growth, with much of the production going to NATO countries and Ukraine.
Last year’s government requirement that the state must spend at least 2% of GDP annually on defence has largely determined the future of the Czech arms industry. Weapons companies believe that interest in their products will remain even after the end of the war in Ukraine, as NATO countries seek to replenish depleted warehouses.
