DUBAI (Reuters) -Russian state conglomerate Rostec said on Tuesday that its defence exports fell by half since 2022 as domestic orders became a priority amid the fighting in Ukraine, but expects
Rostec Reports 50% Drop in Defense Exports Amid Domestic Focus
DUBAI (Reuters) -Russian state conglomerate Rostec said on Tuesday that its defence exports fell by half since 2022 as domestic orders became a priority amid the fighting in Ukraine, but expects recovery soon.
Until 2022 Russia held second place in the world after the United States in defence exports, but the volumes dropped "due to the fact that we have had to supply most of our production to our army", Rostec Chief Sergey Chemezov told reporters.
Sanctions have complicated operations both in civil and defence sectors, but did not affect overall output, he said.
"I assure you that in the near future we will start to recover (with exports). We have expanded our capacities and increased production, so we will be able not only to meet the needs of our military but also supply our partners," Chemezov said, speaking on the sidelines of the Dubai Airshow.
The company's backlog of export orders exceeds $60 billion, Russian state agencies reported early in November, citing Rostec.
Rostec sees a huge demand from several countries for its new fifth-generation stealth fighter jet Sukhoi Su-57, he said, but did not provide details.
Rostec's subsidiary the United Aircraft Corporation continues to work on the MS-21 airliner, which is set to replace Airbus A320 and Boeing 737 in Russia and is expected to be ready for commercial use in 2026.
MS-21 is currently carrying out flight tests and a shorter 140-seat version is expected within two years, Chemezov said.
(Reporting by Federico Maccioni; Writing by Gleb Stolyarov; Editing by Joe Bavier/Guy Faulconbridge)
