Israel and Slovakia sign historic $582 million deal to boost air defense capabilities

In November, Israel Aerospace Industries reported a record-breaking order backlog of approximately $25 billion and a 74% increase in net income in its third-quarter earnings report.

By Pesach Benson, TPS

Israel and Slovakia signed a 2 billion shekel ($582 million) agreement on Monday to boost the European country’s air defense systems, in the largest defense export deal ever between the two.

The centerpiece of the deal is the BARAK MX air defense system, a state-of-the-art platform designed to counter aerial threats, including missiles and aircraft.

Produced by Israeli Aerospace Industries, the system’s versatility allows it to address threats from fighter jets, helicopters, UAVs, cruise missiles, and tactical ballistic missiles. Its three different interceptor rockets range from 35-150 km.

“The expansion of Israeli defense exports in parallel with the war is a direct continuation of the achievements of Israeli technologies on the battlefield. We see growing interest from additional countries in the extraordinary performance of the IDF and Israeli combat systems, both in defense and offense,” said Defense Ministry Director General Maj. Gen. (res.) Eyal Zamir.

“Defense exports are a central component of our security and economic resilience. They are what allow us to continue to develop the next generations of the most advanced combat systems in the world.”

In November, Israel Aerospace Industries reported a record-breaking order backlog of approximately $25 billion and a 74% increase in net income in its third-quarter earnings report.

The growth was driven by IAI’s Missile and Space Systems Division, with $1.87 billion in sales for the first nine months of 2024, up from $1.63 billion in 2023.

The Arrow missile system earned global acclaim, supported by increased R&D investment of $81 million in Q3, up from $65 million.

IAI also reported a record-breaking $25 billion order backlog as of September 30, 2024. This represents a $7.22 billion increase from the previous year and secures 3.5 years of operations at current sales volumes.

International demand for Israel’s military technology has surged as European countries increased their defense budgets in response to Russia’s war in Ukraine. Israel is developing a multilayered aerial defense system that has drawn global attention.