Israel's Defense Exports Soar To $14.8 Billion, Fueling Global Demand

(MENAFN- The Rio Times) The Israeli Ministry of Defense reports that defense exports hit $14.8 billion in 2024, marking a fourth consecutive record year.

This $1.7 billion increase from 2023 reflects surging demand for Israel's advanced military technology.

The industry's growth doubles export values from five years ago, showcasing Israel's economic strength.

Europe drives 54% of sales, up from 35% in 2023, with Germany's $4.6 billion Arrow system purchase leading the charge.

Asia-Pacific accounts for 25%, with India buying drones and air defenses. North America and Abraham Accords nations, like the UAE, split the rest, expanding Israel's market reach.

Missiles and air defense systems dominate, comprising 48% of exports, up from 36% in 2023, due to proven systems like Iron Dome .


Israel's Defense Exports Soar to $14.8 Billion, Fueling Global Demand
Satellites and space systems rise to 8% from 2%, reflecting demand for surveillance technology.

Companies like Rafael and Israel Aerospace Industries thrive, with Rafael's orders nearing $15 billion.

Conflicts with Hamas, Hezbollah, Iran, and Yemen's Houthis boost demand, pushing Israel's defense spending to $47 billion, a 65% increase.

The Gaza war, killing 52,000 Palestinians per Hamas-run health ministry, draws European criticism, yet their reliance on Israel's systems grows.

This paradox highlights Israel's indispensable role in global security.

The Abraham Accords open new Middle Eastern markets, strengthening Israel's trade networks. Despite diplomatic isolation, Israel's battle-tested technology ensures steady sales.

The industry employs thousands, bolstering Israel's economy while meeting allies' security needs. This export boom matters because it shapes global trade and defense markets.

Israel's innovation drives economic growth, while its systems protect nations from missiles and drones.

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