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US defense contractors see longer term benefits from war in Ukraine
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NEW YORK, 04 April 2022, (TON): US arms manufacturers are not cashing in directly from the thousands of missiles, drones and other weapons being sent to Ukraine, but they do stand to profit big-time over the long run by supplying countries eager to boost their defenses against Russia.
Like other Western countries, the United States has turned to its own stocks to furnish Ukraine with shoulder-fired Stinger and Javelin missiles, for instance.
These weapons from Lockheed-Martin and Raytheon Technologies were paid for some time ago.
So these companies’ first quarter results, due to be released in coming weeks, should not be especially fatter because of the rush to arm Ukraine as it fights off the Russian invasion.
But those US military weapons stockpiles being tapped for Kyiv will need to be replenished.
A Defense Department spokesman told media “the Pentagon plans to use $3.5 billion earmarked for this purpose in a spending bill approved in mid-March.”
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