Global arms race boosts anti-tank weapons maker: Saab says third-quarter profit jumped 13.6% to £45m
The defense giant behind anti-tank weapons Britain has sent to Ukraine has posted soaring gains as nations rearm in the face of more military threats.
Saab, which makes the next-generation light anti-tank weapon (NLAW) that has played a key role in Ukraine’s resistance to the Russian invasion, said profits rose 13.6% to £45 million in the third quarter of the year.
The Swedish company, which builds everything from warships and fighter jets to missiles and radar systems, said it would continue to benefit from increased defense spending for years to come.
Easy to use: The 27.5 pound rocket launcher has been called the ultimate tank killer and the UK has sent over 5,000 of them to Ukraine
“It’s a multi-year growth opportunity that we see in Europe and elsewhere, at least until 2030,” said Saab CEO Micael Johansson.
The 27.5-pound rocket launcher has been called the ultimate tank killer, and the UK has sent more than 5,000 of them to Ukraine.
Their lightness makes them easy to carry and use. A soldier can be trained to use them in less than a day.
Military analysts believe the weapons were crucial to defeating the Russian advance in the early stages of the war.