Ukraine war flips Sweden’s Hagglunds fortunes from layoffs to billions
The war in Ukraine has significantly boosted Sweden's defense industry, particularly benefiting Hagglunds, an armored vehicle manufacturer. Once struggling, Hagglunds has seen its order book soar to $8 billion, with a workforce that has tripled in size. The company's success is largely attributed to its Combat Vehicle 90, which has been positively received in Ukraine and is expected to secure further orders from European nations.
- ▪Hagglunds has invested $300 million to expand its production capacity.
- ▪The company has seen a 400% increase in output since 2020.
- ▪The Combat Vehicle 90 has sold over 1,300 units and is used by Ukrainian forces.
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| Original publisher | Straits Times — World |
| Canonical URL | https://www.straitstimes.com/world/europe/ukraine-war-flips-swedens-hagglunds-fortunes-from-layoffs-to-billions |
| Publication time | Wed, 29 Apr 2026 17:33:11 +0800 |
| Retrieval time | 2026-04-29T09:36:54.536Z |
| Last seen | 2026-04-29T09:36:54.536Z |
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Ukraine war flips Sweden’s Hagglunds fortunes from layoffs to billionsSign up now: Get ST's newsletters delivered to your inboxPublished Apr 29, 2026, 05:33 PMUpdated Apr 29, 2026, 06:43 PMListenORNSKOLDSVIK, Sweden, April 29 - The war in Ukraine has turned Sweden's defence industry into one of Europe's fastest-growing weapons hubs, a shift visible nowhere more clearly than in the tiny northern town of Ornskoldsvik, home to armoured vehicle maker Hagglunds.Owned by British defence giant BAE Systems since 2004, Hagglunds began as a family business making furniture in the late 19th century before moving on to buses, trams, planes and eventually, armoured vehicles in the 1950s.Post-Cold War demilitarisation left the company struggling, and when Tommy Gustafsson-Rask became managing director…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Straits Times — World.