Military aid is central to Ukraine winning the war against Russian aggression and while the West has pledged to stand by Kyiv until the end, that isn't being matched with action, Daniel Wolody says.
"Words aren't matched by deeds pretty much across the world," he told a parliamentary hearing into Australia's provision of aid to Ukraine on Monday.
"It's not that Australia has done nothing, we're thankful for the help we've received, but it's a case of too little too late."
International military aid is vital to help Ukraine win the war against Russia. (AP PHOTO)
Australia has given about $1 billion in military and humanitarian aid to Ukraine and has joined a British-led coalition of forces helping train soldiers in the UK.
But Russia was able to exploit Ukraine's dwindling weapon supply with hundreds of millions of dollars in aid seeming like a lot of money, but it wasn't not enough in the context of a war, Mr Wolody said.
"The important thing to realise is that this approach costs Ukrainian lives, about 150 on average per day," he said.
"The West is giving just enough to Ukraine so that it doesn't lose, but not enough so that it can win and what this really means is the war has to drag on."
About 150 Ukrainians are dying every day as the war drags on. (AP PHOTO)
Australia had been able to indirectly profit off the war through increased demand and prices for grains, such as wheat, and LNG with gas companies set to make record profit this year, he said.
"Australia is a net beneficiary of the war and it can afford to be far more generous right now," he said.
The hearing also heard from the private sector, with companies outlining ways they would be able to help the besieged nation.
SPEE3D metal printing supports Australia, Ukraine, Britain, Japan and the US, with the war being the first conflict where the technology is being used on the battlefield.
The international community had donated much equipment to Ukraine but a lot of it was old or obsolete and maintaining it was a problem, co-founder Bryon Kennedy said.
"So metal 3D printers, such as those supplied by SPEE3D, can supplement and augment traditional supply chains," he said.
"Trials of other military including the US and UK have proven the adaptability of this printing technology to manufacture parts that can be used on military vehicles looking to expand in Australia and globally."
DroneShield CEO Oleg Vornik said funding was an issue.
He suggested a committee to liaise between the Ukrainian battlefield and Australia to better prioritise what was needed and could be made locally to help Kyiv.
"People who are on the ground, Ukrainians will know best," he said.
