Israel profits from global arms shopping spree ...Middle East

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One of last week’s major news headlines in Israel was that the US had approved the sale of the Arrow 3 missile defense system to Germany for $3.3 billion – Israel’s biggest ever weapons system deal. To put matters into proportion, the entire revenue in the first half of 2023 of Israel Aerospace Industries (IAI), the lead company in the project, was $2.5 billion. Israel’s defense exports climbed to a record $12.5 billion of new contracts signed in 2022, up from $11.3 billion in 2021, which was also a record, and in the coming years the country’s biggest defense companies expect this figure to grow. Israel’s leadership is banking on future defense deals. This could be seen earlier this

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Last updated : 25 August 2023 clock 12:16 PM

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Israel profits from global arms shopping spree ...Middle East

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