Defense exports reach record
For the first time,the US is Israel's largest defense customer.
Ran Dagoni,Washington 28 May 08 16:08
"Defense News"reports that Israel's defense companies signed
contracts worth $5.6 billion in 2007 -an all-time high for the country's
defense exports.According to the Ministry of Defense SIBAT -
Foreign Defense Assistance and Defense Export Organization,and
the ministry's Armaments R&D Administration,last year's sales were
$700 million greater than the $4.87 billion in 2006,the previous
record.
"Defense News"quotes SIBAT director general Yossi Ben Hanan as
saying that Israel's defense exports had totaled $11 billion in the past
two years.
He said that this was an amazing achievement for a small country
that does not manufacture large platforms.The achievement
underscored Israel's added value for the defense and aerospace
markets and made the country one of the world's top four arms
suppliers.
Ben-Hannan said the trade gives a valuable boost to Israel's
economy.Every billion dollars in new contracts creates another
20,000 jobs,he said.
SIBAT noted that,for the first time,the US was Israel's largest arms
customer,signing contracts worth $1.5 billion in 2007,$400 million
more than in 2006.Israel's top defense exporter to the US last year
was Plasan Sasa Ltd.,a manufacturer of armor add-on kits for
vehicles,which had $800 million in sales to the US.
Elbit Systems Ltd.(Nasdaq:ESLT;TASE:ESLT)was in second
place with $700 million in US sales,mostly through its Fort Worth
subsidiary,Elbit Systems of America LLC.As a US company,it is not
included in SIBAT's list.
India was Israel's second largest defense customer,with $800 million
worth of new procurement contracts in 2007.
Israel exports mostly radar systems,drones and anti-tank missiles to
India,Turkey,Britain,the United States and other countries.
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