Czechoslovak Group (CSG) entered SIPRI's top 100 global arms manufacturers at 89th place, with 2023 revenues increasing by 25% to $1.2 billion, driven by European Union exports and contracts supporting Ukraine.
The Czech company Czechoslovak Group (CSG) has debuted in the Stockholm International Peace Research Institute's (SIPRI) ranking of the world's top 100 arms manufacturers, placing 89th. In 2023, CSG's revenues from arms sales and military services surged by 25% year-on-year to $1.2 billion, aided by diversified export destinations within the European Union and contracts for Ukraine funded by European nations. Globally, the arms industry's revenue rose by 4.2% to $632 billion, fueled by ongoing geopolitical conflicts, including the war in Ukraine.
Despite strong competition, CSG's advancement was marked by strategic diversification. The U.S. dominated the list with firms accounting for $317 billion in revenues, while European companies reported a steady $133 billion. Notable regional growth included German firms increasing military sales by 7.5% and Israeli companies by 10%. CSG's achievement highlights its growing stature within the global defense market.
Source: https://www.e15.cz/