Ukraine to produce 1.5 million drones by the end of 2024, announces Prime Minister Denis Shmygal on October 1 during a government meeting.
This ambitious goal set by the Ukrainian government aims to position the country as a leader in the rapidly growing drone industry. With the global drone market projected to reach $42.8 billion by 2025, Ukraine’s plan to manufacture 1.5 million drones in the next four years is a bold move that could bring significant economic benefits to the country.
In his announcement, Prime Minister Shmygal emphasized the importance of this project for the development of the Ukrainian economy and the country’s technological advancement. He stated, «This is a strategic decision for our country. By producing 1.5 million drones, we will not only create thousands of new jobs but also boost our economy by attracting foreign investments and strengthening our export potential.»
The production of drones is expected to generate over $1 billion in revenue for Ukraine, with a significant portion of it coming from exports. This will not only bring additional income to the country but also improve its trade balance and reduce its dependence on imports.
Apart from economic benefits, the production of drones will also have a positive impact on the country’s defense capabilities. Drones have become an essential tool in modern warfare, and Ukraine’s ability to produce them domestically will strengthen its defense capabilities and reduce its reliance on foreign suppliers.
The Ukrainian government has already taken steps to support the development of the drone industry in the country. In 2020, the Verkhovna Rada (Ukrainian parliament) passed a law that provides tax incentives and other benefits to companies involved in the production of drones. This legislation has attracted the interest of both local and international companies, with many showing interest in investing in Ukraine’s drone industry.
The production of 1.5 million drones will also bring advancements in science and technology to Ukraine. The country’s universities and research institutions will have the opportunity to collaborate with companies involved in the manufacturing of drones, leading to the development of new technologies and innovations. This will not only benefit the drone industry but also other sectors of the Ukrainian economy.
Ukraine’s potential in the drone industry is not to be underestimated. With its skilled workforce, growing technology sector, and favorable business climate, Ukraine is well-positioned to become a hub for drone production in Europe. The country’s geographical location, at the crossroads of Europe and Asia, also provides easy access to major markets, making it an attractive location for drone production.
As Ukraine moves forward with its plan to produce 1.5 million drones, it is clear that this project has the potential to bring significant economic, technological, and defense benefits to the country. With the government’s unwavering support and the interest of local and international investors, Ukraine’s drone industry is set to take off in the coming years.