>We believe that the T-90M's production rate is significantly higher, that the ratio of newly built tanks to modernized vehicles is lower, and that the availability of older tanks does not determine the factory’s production capabilities.
>We believe that Uralvagonzavod has started implementing production expansion plans.
>What might these volumes be? It is worth noting that in the 2000s and 2010s, the plant was capable of producing up to 140 tanks per year at its peak, alongside the production of assembly kits. During that period, the factory operated under peacetime conditions, without transitioning to a 24-hour, 3-shift schedule with round-the-clock operations and extensive overtime—which it has now adopted. Implementing a 24-hour production cycle, considering the productivity reserve of hulls, likely makes it possible to outperform these figures.
Thus, in our opinion, T-90M tank production at Uralvagonzavod in 2022 amounted to 60-70 units. In 2023, production volumes further increased, driven by additional hiring and a transition to a 3-shift, 24-hour production schedule. It is likely that during this period, production could have increased to 140-180 tanks per year, and by 2024, it could have exceeded 250—possibly even 300—tanks per year. A recent Wall Street Journal article cited Western intelligence sources estimating current production at about 300 tanks annually. Based on information from reliable analytical sources available to us, production in 2024 was around 280 T-90M tanks per year.
>Moreover, if the loss trend for this year remains unchanged, the size of the Russian tank fleet may even increase by several hundred units per year, despite ongoing combat operations.

Actually interesting western article about T-90M production numbers.
https://notes.citeam.org/eng_t90