The defense sector in Ukraine tripled over the past year, and in 2024 the industry is expected to swell six times, Deputy Minister for Strategic Industries Hanna Hvozdiar said at the Global Outlook: A Winning Vision conference organized by the European Business Association (EBA) on Wednesday.

"The enemy, of course, surpasses us in numbers and in the means they involve. And the needs of the army are so great that it's very difficult for us, even together with our partners, to satisfy them in full. However, just last year we tripled our defense industry. This year we expect a six-fold increase," Hvozdiar said.

According to her, the ministry is creating opportunities to attract civilian companies to work in the field of military-tech.

"We're talking about ammunition, ammunition housings. They can be produced by civilian companies that have the appropriate equipment, and we are also moving in this direction," Hvozdiar said.

The deputy minister said that another niche is in the component market. According to her, many manufacturers of drones and UAVs still buy components abroad, while one of the existing priorities is to equip them with domestically produced parts.

"Our drones should depend on and consist of Ukrainian components as much as possible," Hvozdiar said.

"The money is all in the defense industry. Thus, sooner or later we will still come to the conclusion that this is more beneficial for the economy as a whole. It is very important for us to keep our budget within the country," she said.

Hvozdiar noted that Ukraine's Ministry of Strategic Industries is working on creating a platform for communications that could serve as a library of proven components of national production.