Czech arms makers set sights on space defense in bid to sustain Ukraine-driven arms boom

Czech arms makers have thrived on demand linked to the war in Ukraine. But to sustain their growth, they need to look beyond ammunition and toward new technologies — and even space.

Czech arms maker Czechoslovak Group (CSG) announced in mid-October that it has acquired a stake in Canadian space technology manufacturer MDA Space. This space mission is part of the company's bid to continue riding the boom that has transformed its fortunes in recent years.

When it listed on the Amsterdam Stock Exchange earlier this year, CSG soared to become the most valuable company in Central and Eastern Europe, with a market capitalization of €14.6 billion ($16.4 billion), propelling its owner, Michal Strnad, to the top of the region's rich list. CSG began life as a 1990s startup , selling military surplus amid the collapse of the Warsaw Pact, the military alliance between the Soviet Union and Europe's socialist Eastern Bloc nations, which was founded in 1955 and disbanded in 1991.