Deputy Minister for Strategic Industries Hanna Hvozdyar has said that the defence industry in Ukraine grew three times last year and is expected to grow sixfold in 2024, Interfax-Ukraine reports.
"The enemy is, of course, superior to us in terms of numbers and funds. And the needs of the army are so high that it is very difficult for us, even together with our partners, to meet them in full. However, last year alone, we tripled our defence spending. This year, we expect a sixfold increase," Hvozdyar said at the Global Outlook: A Winning Vision conference organized by the European Business Association.
According to her, the ministry is creating opportunities for civilian companies to engage in mil-tech.
"We are talking about ammunition, ammunition casings. They can be produced by civilian companies that have the necessary equipment, and we are also moving in this direction," Hvozdyar said.
Shenoted that another niche is the market of components. According to her, many UAV manufacturers still buy components abroad, while one of their priorities is to equip them with domestically produced parts.
"Our drones should depend on and consist of Ukrainian components as much as possible," she added.
"The money is all in defence. So, sooner or later, we will arrive at the conclusion that it is more profitable for the economy as a whole. It is very important for us to keep our budget within the country," she explained.
Hvozdyar also noted that the Ministry of Strategic Industries is working to create a communication platform that could serve as a library of tried-and-tested nationally produced components.