ndustry of our state. Its core components include rocket, aircraft and shipbuilding plants, aircraft and ship engine-building, armored vehicles and radio-electronic equipment, ammunition and special chemicals, repair services. Nowadays the main requirement for the national military-industrial complex which has been focused on the export of its products for many years, is to meet the needs of the Armed Forces of Ukraine and other military formations in armaments and military equipment quickly and efficiently.But the implementation of the main function of the military-industrial complex is hampered by both chronic problems of the defense industry (a small number of closed research-production cycles for the development and manufacture of weapons, depreciation of industrial equipment and outdated technologies, lack of human, financial, material resources, a large number of counterparties) and new challenges, for the successful overcoming of which, it is necessary to take a number of measures at the legislative level to reform the military-industrial complex and create appropriate conditions for its development, to attract private partners who could provide significant assistance to the defense industry in Ukraine in solving current tasks and related problems due to active implementation of various projects in the military-industrial sphere within the framework of public-private partnership. This is what actualizes the issue of this study.Recent research and publications analysis. The analysis of national and international publications showed that the issues connected with the topic of research are currently covered in the studies of many authors, namely: A. Kalyaev, Y. Shimov, T. Korolyuk, Y. Gusev, A. Abramovichus, M. Zhorokhov and other scientists. However, issues related to the problems of the development of the military-industrial complex of Ukraine and ways of overcoming them have not been studied sufficiently. Highlighting previously unsettled parts of the general problem. The purpose and objectives of the article are to analyze the problems of development of the military-industrial complex of Ukraine as an important component of the country's security as well as to identify ways of improving the situation in the field of the military-industrial complex.Paper main body. Nowadays, in order to defeat the aggressor – Russia, defense enterprises need to unite their assets, resources or technologies. We have been at war for 7 years and during all this period of time each defense enterprise has been strengthening the defense capabilities of our country seperately, because the current legislation which regulates the work of Ukroboronprom does not allow them to get united. The reform of Ukroboronprom will allow enterprises to achieve better results in the production of weapons and military equipment by getting their assets, resources and technologies united. And this in its turn will help simplify and reduce the cost of production processes.Reforming of Ukroboronprom makes it possible to attract foreign direct investments, to create additional value for our products. The Ukrainian military-industrial complex will become an attractive and reliable partner in domestic and foreign markets. The league of defense enterprises will give an opportunity to establish a full cycle of production: precision-guided munitions, radars, ammunition and special chemicals, armored vehicles as well as aircraft and ship repair services.Conclusions of the research and prospects for further studies. The given analysis makes it possible to find out that the future of the Ukrainian military- industrial complex depends on foreign investors, who, despite the war, are providing financial resources for the development and modernization of armaments.Ukraine will benefit from cooperation with foreign investors as all developments will remain the intellectual property of Ukrainian companies. This allows developing samples of military armaments.The current situation with military exports is not hopeless. There are some branches where Ukraine can compete with Russia or Eastern Europe. Everything will depend on the efficiency of Ukroboronprom's top managers and private initiative as small companies have been given the opportunity to enter foreign markets without total control by the state monopolist.The successfully implemented reforms of Ukroboronprom will provide an opportunity to bring defense enterprises as well as design bureaus of Ukraine to life by attracting investments. In fact, they will be attracted by a defense company which will replace the current Ukroboronprom. As long as our companies continuously manufacture, modernize and repair armaments for the needs of our army as the main internal customer, the defense company mentioned above will act as a corporate center or a strategic architect of the entire reform. That is, it will help to get the corporate model of management "on the rails" without stopping the production .Thus, the defense company will take the leadership in all transformations, will control and be responsible for the realisation of the strategy, business plans, the implementation of the established rules and policies. But above all, it will help state-owned defense enterprises to make a quantum leap into the future that has already come.
STRENGTHENING THE FINANCIAL STABILITY OF ENTERPRISES IN THE MILITARY-INDUSTRIAL COMPLEX: DEFENSE PROCUREMENT AND ACQUISITION OR CONVERSION OF PRODUCTION?
