More and more German companies are trying to get involved in the fast -growing and particularly profitable market for equipment, in view of the planned modernization of the Armed Forces, in which up to € 500 billion will be invested. According to the Association of Equipment Industry, the flourishing of the weapons industry after the Russian attack on Ukraine has launched the number of its members. “We now have 340 companies in our registers, 100 more than at the end of 2024,” said Hans Christoff Atchpontien, Managing Director of the Federal Union of the German Security and Defense Industry (BDSV). When he took over his duties in 2017, the Union numbered just 70 members. Many of the new BDSV members come from the automotive industry and are former suppliers or service providers for car manufacturers who, due to the crisis in the German automotive industry, are reorganing and seeking contracts with the defense industry. Particular demand seems to have engineering companies whose know -how is considered extremely valuable in the defense industry. […]
Source: News Beast
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