Ukraine plans to increase its defence sector sixfold in 2024.

Source: Oleksandr Kamyshin, Ukraine’s Minister of Strategic Industries, at the Ukraine. Year 2024 forum

Details: In total, 500 military-industrial companies are currently active in Ukraine.

Of these, 100 are state companies and 400 are private ones.

There are approximately 300,000 employees in the defence sector.

Ukraine’s ammunition production increased significantly in 2023. The number of mortar rounds produced increased 48 times, and artillery shells 2.8 times.

Kamyshin also stated that one important goal for the year 2024 is to reduce the cost of weapon production; for example, the cost of effectively using an FPV drone should be US$1,000.

In addition, by 2024, the Ukrainian industry will be producing a significantly larger number of unmanned ground vehicles.

“Last year, we saw large-scale use of air and sea drones; 2024 will be the year that we see them on the ground,” the minister said.

In his speech at the forum, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov confirmed President Volodymyr Zelenskyy’s previously reported goal of producing over 1 million drones by 2024.

To that end, Ukraine is already working with 200 companies to produce UAVs.

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