Watchdog: Western arms companies failed to ramp up production capacity in 2022 due to Ukraine war

STOCKHOLM (AP) — An independent watchdog says many Western arms companies failed to ramp up production in 2022 despite a strong increase in demand for weapons and military equipment. Labor shortages, soaring costs and supply chain disruptions were exacerbated by Russia’s invasion of Ukraine, according to the Stockholm International Peace Research Institute, or SIPRI. It said the arms revenue of the world’s 100 largest arms-producing and military services companies last year was $597 billion — a 3.5% drop from 2021.