Israel concluded 2016 with $6.5 billion in new defense export contracts, an impressive 14 percent increase.
The year 2016 was the second consecutive year of increased Israeli defense export contracts, with Israel’s defense industries signing a total of $6.5 billion in new contracts throughout the year, This consists of an increase of $800 million, a massive 14 percent spike from the previous year.
With the help of the International Defense Cooperation Directorate at the Ministry of Defense (SIBAT) and other ministry departments, the Israeli defense industries succeeded in signing dozens of significant contracts, allowing for the continued strengthening of Israel place in the global market.
“The increase in the volume of new contracts signed expresses a global trend of pulling out of the recession, especially in Europe and North America, and increased defense budgets in the face of growing security challenges,” SIBAT Director, Brig. Gen. (res.) Mishel Ben Baruch explained.
He underscored the fact that Israel’s defense industries have won great prestige around the world thanks to “advanced quality technology.”
“We are proud to conclude a challenging and successful year for the Israeli defense industry. We succeeded in working together to bring about a significant increase in the volume of defense exports,” Ben Baruch stated.
Aircraft and aerial system improvements dominated the market with 20 percent of the sales, followed by observation and electro-optic equipment with 18 percent; aerial defense, 15 percent; ammunition and weapons stations, 13 percent; radars and Electronic Weaponry, 12 percent; information and intelligence, 8 percent, Unmanned Aerial Vehicles (UAV), 7 percent; telecommunications, 4 percent, and maritime at 1 percent. Another 2 percent was categorized as “other.”
Israel’s largest market in 2016 was in Asia and the Pacific, with $2,611 M. in sales, Europe with $1,795 M., North America with $1,265 M., Latin America with $550 M. and Africa with $275 M.
Most recently, reports have emerged that Israel’s Rafael Advanced Defense Systems and the Indian Defense Ministry have inked a $1 billion deal, according to which Rafael will sell India its Spike anti-tank missiles.
The Spike, which has medium, long and extended range versions, has been sold to 25 countries worldwide.
By: Aryeh Savir, World Israel News