European arms manufacturer builds up stockpiles amid Iran crisis

European missile manufacturer MBDA has spent €1 billion ($1.16 billion) on production without signed contracts in a bid to boost stockpiles and meet rising demand, the company’s chief executive said on March 26, according to Reuters.

The company has shifted away from its previous model of waiting for orders before starting production, instead building up inventories of high-demand weapons, particularly air defence systems.

"The Iran crisis is... again increasing the need for ​ramp up ​for ⁠acceleration and of course, further ​work is underway in ​our ⁠organisation to see to evaluate further possibilities," CEO Éric Béranger told reporters.