Israel's Revenues from Defence Industry Exports Reach Record Highs

Record revenues have been achieved for the second consecutive year.

07/08/2023 - 20:26

The export of Israeli defense industry continues to achieve record-breaking results, as reported by with reference to Israeli media.

Revenues have surged to a new record high. In 2022, the income reached $12.5 billion, which is $1.1 billion more than the previous year, also a record year. For comparison, defense export revenues were $2.5 billion in 2020, $5.8 billion in 2015, and $7.4 billion in 2010.

According to the Israeli Ministry of Defence, there were two main sources for this unprecedented growth in the defense industry, with the chief one being the sale of weaponry and military equipment to European countries. The total value of military products sold to European Union countries was approximately $3.7 billion.

Industry experts believe that this record-setting trend will continue to expand in 2023. An illustrative example of this is the ongoing discussion in the German Bundestag regarding the acquisition of the Israeli long-range missile defense system "Hetz-3". The cost of this system amounts to $4 billion. If Germany proceeds with the purchase of this missile defense system, it will become the largest arms deal in history.



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