Israeli arms exports to get lift from Ukraine war and rising global tensions
Israel exported a record $12.5 billion in arms last year, and that growth is likely to continue over the next several years.
Al-Monitor Pro Members
David Rosenberg
Israeli reporter specializing in business, economics and politics
June 28, 2023
Israel exported a record $12.5 billion in arms last year, the Defense Ministry said June 14, and that growth is likely to continue over the next several years. Israel is well-positioned to take advantage of growing global defense spending in the wake of the Ukraine war and due to growing tensions in the Gulf and with China. That is because Israeli weapons manufacturing is heavily weighted toward drones, missiles, electronic warfare and air defense systems, all of which have played a major role in the Ukraine conflict. Israel’s cutting-edge cyberhacking technology remains dogged by controversy due to customer abuse, but demand remains brisk for other cyberwarfare segments. In addition, the government is doing more than ever to encourage exports, cutting red tape and entering into more government-to-government deals. Increased exports are critical to the country’s defense industry, which sells as much as 80% of its products and services abroad.