Yep, the current Russian war in Ukraine exposed the fact that the western 'military complex' isn't that industrial anymore, as (for example) the total
annual production of artillery shells is less than what we'd shoot in a single average day of WW2.
There's still a lot of money spent, but it's spent less on actual industrial capacity but rather mostly on various high-tech R&D things - probably because then you can convert a larger portion of the order to profits instead of hardware.
