Home Business Israel’s arms export hits record high of $12.6B in 2022

Israel’s arms export hits record high of $12.6B in 2022


The export of Israel’s military equipment reached an all-time high of $12.55 billion in 2022, Israel’s Defense Ministry said in a statement on Wednesday.

According to the ministry, 2022 was the second year in a row that the overall value of defense agreements broke records. Israel’s export of military equipment has surged by 50pc over the past three years.

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Some 120 Israeli companies signed “hundreds” of new sales deals in 2022, with about half of them valued at over $100 million, according to the statement.

Notably, in the wake of the so-called Abraham Accords, a series of deals signed in 2020 in which the United Arab Emirates, Bahrain and Morocco agreed to normalize ties with Israel, exports of military equipment to these countries reached $3 billion, the ministry said.

In the global market, reconnaissance and attack drones attracted significant attention, with a quarter of the deals signed with foreign armies specifically focusing on these technologies.

Missiles, rockets, and air defense systems accounted for 19pc of Israel’s exports of military equipment, while radar systems made up 13pc.

Observation equipment and optronics comprised 10pc, intelligence, information, and cyber systems constituted 6pc, and communication systems made up 6pc of the sales. Manned aircraft and avionics represented 5pc, and weapon stations and launchers made up another 5pc. The remaining portion consisted of exports in vehicles, ammunition, armaments, maritime systems, and services combined.

Global instability “increases the demand for Israeli air defense systems, drones, UAVs (unmanned aerial vehicles), and missiles,” Director General of the Defense Ministry Eyal Zamir was quoted as saying in the statement.

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