Latest news with #defenseexports
Asharq Al-Awsat
6 days ago
- Business
- Asharq Al-Awsat
Amid Gaza War, Israel Defense Exports Jump 13% in 2024 to Record $15 bln
Israel's defense exports rose 13% in 2024 to a record of nearly $15 billion, led by missiles, rockets and air-defense systems with over half the deliveries going to European militaries, the government said on Wednesday. Military exports, the Defense Ministry said in a statement, have more than doubled over the past five years, reaching nearly $15 billion in value in 2024. The ministry said that since the outbreak of the Gaza war on Oct. 7, 2023, Israel's defense industries have operated in emergency mode with round-the-clock arms production while also maintaining manufacturing for foreign clients. "The new record in Israeli defense exports, achieved during a year of war, reflects more than anything else the growing global appreciation for Israeli technology's proven capabilities," said Defense Ministry Director-General Amir Baram, Reuters reported. "Israeli systems have resonated throughout the Middle East this past year. More nations want to protect their citizens using Israeli defense equipment." The ministry said there was significant growth in contracts from Europe last year, where exports accounted for 54% of the total, up from 36% in 2023. Asia-Pacific was next at 23% with the United States at 9%. Missile, rocket and air defense systems comprised 48% of defence exports, followed by vehicles and armoured personnel carriers at 9%, and satellites and space systems, radar and electronic warfare, manned aircraft and avionics at 8% each. Some 57% of contracts amounted to more than $100 million.
Al Arabiya
6 days ago
- Business
- Al Arabiya
Israel arms exports hit all time high in 2024: Defense ministry
Israel's defense ministry said Wednesday that its arms exports hit an all-time high of more than $14.7 billion in 2024, despite international criticism of Israel's ongoing war against Hamas in Gaza. 'Israel again reached an all-time peak in defense exports in 2024, marking the fourth consecutive record-breaking year in the scope of defense agreements,' the ministry, which oversees and approves the exports of Israel's defense industries, said in a statement. For the latest updates on the Israel-Palestine conflict, visit our dedicated page. A majority -- 56.8 percent -- of the deals signed were 'mega-deals' valued at at least $100 million each, the ministry said, adding that 'operational achievements' in the Gaza war had driven the demand. Since the outbreak of the war, sparked by militant group Hamas's attack on October 7, 2023, the ministry said it had been operating on 'emergency mode, mobilizing for the war effort with round-the-clock IDF production while maintaining foreign client manufacturing.' 'The war's operational achievements and the proven battlefield performance of Israeli systems have driven strong international demand for Israeli defense technology, concluding 2024 on a remarkably high note with record-breaking export deals,' it said. The ministry said that demand for its missiles, rockets, and air defence systems had 'reached a new significant milestone' and accounted for some 48 percent of the total number of exports, up from 36 percent in 2023. Additionally, 'satellite and space systems exports saw substantial growth, representing 8 percent of deals in 2024 compared to 2 percent in 2023,' the ministry said. A breakdown of the regions to which the arms were exported showed that European countries made up more than half. Sales to countries considered part of the Abraham Accords appeared to have risen from 3 percent in 2023 to 12 percent. 'Precisely during a difficult and complex year of war, Israel has broken an all-time record in defense exports,' Defense Minister Israel Katz said in the statement. 'The world sees Israeli strength and seeks to be a partner in it,' he added.
Arab News
6 days ago
- Business
- Arab News
Israel defense ministry says arms exports hit all time high in 2024
JERUSALEM: Israel's defense ministry said Wednesday that its arms exports hit an all-time high of more than $14.7 billion in 2024, with a sharp rise in deals with Arab Gulf states, despite international criticism of Israel's ongoing war against Hamas in Gaza. 'Israel again reached an all-time peak in defense exports in 2024, marking the fourth consecutive record-breaking year in the scope of defense agreements,' the ministry, which oversees and approves the exports of Israel's defense industries, said in a statement.
Bloomberg
6 days ago
- Business
- Bloomberg
Israel Defense Exports Hit Record in 2024 as Europe Demand Jumps
Israel's defense exports hit a record for a fourth consecutive year thanks largely to growing demand from Europe, even as some of its nations call for sanctions over the war in Gaza. International military sales totaled $14.8 billion last year, up $1.7 billion from 2023 and more than double the figure five years ago, Israel's defense ministry said on Wednesday.
