'Business is very good, unfortunately': Arms fair spotlights bonanza year ahead for weapons companies
Publishing timestamp: 2023-02-24 01:57:13
Summary
Last year, defense spending hit a record high due to Russia's invasion of Ukraine. This was evident at the Abu Dhabi's biennial international defense exhibition, IDEX, which was the largest and most well attended in years. Many countries are increasing their defense spending to unprecedented levels, and U.S. arms industry is enjoying a windfall. European militaries are rushing to prevent their own weapons stocks from being depleted as they send supplies to Ukraine. Companies are hampered by supply chain issues and labor shortages, and need government help to speed up production process.
Sentiment: POSITIVE
Keywords: united states, ukraine, russia, business news, aerospace and defense industry, defense, economy, economic events, idex corp, lockheed martin corp, politics,