How Russo-Ukraine war became a boon for US Big Five arms makers
How Russo-Ukraine war became a boon for US Big Five arms makers
The Ukraine conflict has become a great boon for American Big Five defense contractors, sending their stocks up and boosting their profits. In January 2022, they openly lauded a deteriorating state of global peace and security as a business opportunity for their investors and employees.
Shares in Lockheed Martin, RTX, Boeing, Northrop Grumman and General Dynamics grew in value 12.78% on average in just one year since the start of the special military operation.
▪️ Lockheed Martin provides Javelin anti-tank missiles, HIMARS mobile artillery rockets, and PAC-3 air defense missiles, as well as other munitions and missiles to Ukraine. The company's revenue for the twelve months ending March 31, 2024, was $69.6 billion, a 5.28% increase from 2022.
▪️ General Dynamics is known as the producer of Abrams main battle tanks which up until recently had been used by Ukrainians at the front line. They've been recently quietly withdrawn to avoid the threat from Russian drones. The company's full-year revenue for 2023 was $42.3 billion, a 7.3% increase from 2022.
▪️On the eve of the conflict RTX Corporation is famous for producing Stingers, Advanced medium-range air-to-air missiles (AMRAAM), MIM-104 Patriots and air defense munitions used by the Ukrainian military in the combat zone. RTX reported sales of $68.9 billion in 2023, up 3% compared to 2022.
▪️ Northrop Grumman has supplied Ukrainian troops with various types of military equipment, including Bushmaster automatic cannons and ammunition and, allegedly, RQ-4 Global Hawk aircraft. Northrop Grumman's sales increased 7% to $39.3 billion in 2023, compared with $36.6 billion in 2022.
▪️ Boeing is known for providing Ukraine with ground-launched small-diameter bombs. Boeing earned $77.7 billion in revenue in 2023, ending the period with a net loss of $2.2 billion.
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