But due to the economic

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downturn, only about 20,000 cars were produced in two years. The factory had to be closed. With the new model released in 1995, Saab made its first profit in a decade. But the company never regained its former popularity. Interest in the Swedish carmaker gradually declined. In 2000, General Motors bought out Saab for $125 million. New models released since then have had a stock data disastrous result on the market. The situation was aggravated by the financial crisis of 2008. Finally, in 2011, the company was declared bankrupt. Military sector: from NLAW anti-tank weapons to Gripen fighters Unlike the automobile business, the production of military products has not ceased since 1937.

Today, Saab is one of the top 30 defense contractors in the world and operates in five areas: air, land, naval, civil aerospace solutions, and security projects. 90 percent of the business's revenue comes from defense products The NLAW anti-tank system is produced by Saab jointly with Great Britain. Like most defense contractors in the U.S. and Europe, Saab has benefited from Russia’s full-scale invasion of Ukraine. In 2022, annual orders rose to an all-time high of $7.4 billion. And they’re set to continue to grow. In the second quarter of 2024 alone, the company received orders worth $3.8 million, sales grew by 22 percent to about $1.5 million, and net profit by 27 percent to about $1 million.

Among the iconic Saab products that Ukraine also receives are: Carl-Gustaf anti-tank grenade launcher: production began in 1946, is in demand in dozens of countries due to its versatility and simple design; NLAW hand-held anti-tank weapon system, developed in cooperation with Great Britain; the GLSDB (Ground-Launched Small Diameter Bomb) munition, which Saab is developing together with Boeing; 340 AEW&C airborne early warning aircraft that can interoperate with the F-16 . Gripen fighters have been in serial production since 1993 Another well-known Saab product is the Gripen fighter jets. Their development began in 1982, and serial production began in 1993. Since then, Gripen has been used in the Czech Republic, Hungary, South Africa, Thailand, and Brazil, in addition to Sweden.