Israel made big money by wreaking havoc in these Muslim countries, Israeli defense companies became rich

New Delhi: Israel has been engaged in a conflict with Hamas in Gaza since October 2023 and during this period there has also been fighting with Hezbollah in Lebanon. Apart from this, Israel also remains at loggerheads with Iran, while the Israeli army is also active against the Houthi rebels in Yemen. This conflict has caused massive destruction in Gaza, Lebanon and Yemen, while Israeli defense companies have directly benefited from it. Israel's arms manufacturing companies see a significant increase in profits in 2024.

cause of increase

According to Israeli media reports, a Wall Street Journal report states that major Israeli defense companies such as Elbit Systems, Rafael Advanced Defense Systems and Israel Aerospace Industries (IAI) are moving towards historic records in their arms sales. . The orders of these companies have increased by more than 25 percent in 2024, which is more than the 23 percent increase in 2023.

interest from foreign buyers

According to the report, the effectiveness of missile defense systems like Iron Dome and Arrow during the war has been appreciated globally. Due to this, the demand for these systems has also increased in foreign countries. For example, Slovakia recently signed a 560 million euro deal with IAI for the Barak MX integrated air defense system. According to IAI CEO Boaz Levi, there has been a surge in demand for weapons in Israel and other countries.

Big deals of Elbit Systems

In addition, Elbit Systems has also received large orders from the Israel Defense Ministry. Recently, the Defense Ministry has signed two agreements with Elbit Systems. The first agreement is for the procurement of aerial ammunition, while the second deal pertains to the construction of a national raw material production facility, whereby materials previously imported will be produced in the country.

Israel's defense industry

The increase represents a significant boost for Israel's defense industry, boosting the country's economy while also bolstering its global military reputation. The success of systems like Iron Dome and Arrow has attracted the attention of countries around the world. However, despite this, Israel's army and government are facing international criticism over attacks in Gaza and Lebanon. Read Also: China will build a dam in space, preparations for a huge solar energy project like Three Gorges Dam in space