For the first time, a Czech company has entered the ranking of the world's top 100 defense companies, compiled by the Stockholm International Peace Research Institute (SIPRI). In 2023, the company increased its revenues by 25% to approximately $1.2 billion, securing the 89th position in the ranking. This success is partly attributed to the growing demand for military equipment and ammunition due to global conflicts.

The defense industry accounted for over 70% of the group's revenues, with more than 60% generated by the CSG Defence division, which includes manufacturers of land military equipment and large-caliber ammunition. Additionally, 20% of the revenues came from the CSG Ammo+ division, specializing in small-caliber ammunition. By the end of 2023, CSG employed over 10,000 people across 37 production facilities, primarily located in the European Union and the United States. CSG also recently completed the acquisition of Kinetic, a leading U.S. small-caliber ammunition manufacturer, making CSG a major global player in this market.

Overall, The European defense industry saw revenue growth in 2023, although it lagged behind other major players. Many European defense companies were working on older contracts, which affected their revenues. However, the demand for ammunition, artillery systems, and combat vehicles, particularly related to the war in Ukraine, led to significant revenue increases in Germany, Sweden, Ukraine, Poland, Norway, and the Czech Republic.

Source: Natoaktual.cz

Author: CzechTrade and CzechInvest Ofiice in New York