WASHINGTON, Oct 27 (Reuters) - The Russian invasion of Ukraine in 2022 is starting to boost defense contractors' revenues, as customers such as the U.S. government restock supplies shipped to Ukraine and countries around Europe arm themselves with an eye on Moscow's aggressions.
New contracts to supply Ukraine directly - or backfill U.S. weapons sent to Ukraine - were signed late last year, and now revenue is flowing to the big defense contractors.
"We've gone from 14,000 (artillery) rounds per month to 20,000 very quickly.
The General Dynamics' Combat Systems unit, which makes armored vehicles, tanks and the artillery Ukraine uses, saw its revenue rise almost 25% versus the same period a year ago.
Third-quarter sales for Northrop Grumman's (NOC.N) Defense Systems segment rose 6% on high demand for ammunition and rocket motors used in guided multiple-launch rocket systems (GMLRS), which play a crucial role in supporting Ukraine's defense efforts against Russian forces.
Persons:
Lockheed Martin, We've, Jason Aiken, Northrop Grumman's, Sweden's, Joe Biden, Biden, Dynamics's Aiken, Mike Stone, Rod Nickel
Organizations:
Lockheed, General Dynamics, Patriot, Palestinian, Hamas, Wall, Dynamics ', Systems, Wall Street, Russian, Sweden's Saab, Rheinmetall, Thomson
Locations:
Ukraine, Europe, aggressions ., U.S, Israel, Arizona, Pennsylvania, Ohio, Texas, Washington