TEL AVIV: Israel and Slovakia signed a 2 billion shekel (USD 582 million) agreement on Monday to boost the European country’s air defense systems, in the largest defense export deal ever between the two.
The centerpiece of the deal is the BARAK MX air defense system, a state-of-the-art platform designed to counter aerial threats, including missiles and aircraft.
Produced by Israeli Aerospace Industries, the system’s versatility allows it to address threats from fighter jets, helicopters, UAVs, cruise missiles, and tactical ballistic missiles. Its three different interceptor rockets range from 35-150 km.
“The expansion of Israeli defense exports in parallel with the war is a direct continuation of the achievements of Israeli technologies on the battlefield. We see growing interest from additional countries in the extraordinary performance of the IDF and Israeli combat systems, both in defense and offense,” said Defense Ministry Director General Maj. Gen. (res.) Eyal Zamir.
“Defense exports are a central component of our security and economic resilience. They are what allow us to continue to develop the next generations of the most advanced combat systems in the world.”
In November, Israel Aerospace Industries reported a record-breaking order backlog of approximately USD 25 billion and a 74 per cent increase in net income in its third-quarter earnings report.
The growth was driven by IAI’s Missile and Space Systems Division, with USD 1.87 billion in sales for the first nine months of 2024, up from USD1.63 billion in 2023. The Arrow missile system earned global acclaim, supported by increased R&D investment of USD 81 million in Q3, up from USD 65 million.
IAI also reported a record-breaking USD 25 billion order backlog as of September 30, 2024. This represents a USD 7.22 billion increase from the previous year and secures 3.5 years of operations at current sales volumes.
International demand for Israel’s military technology has surged as European countries increased their defense budgets in response to Russia’s war in Ukraine. Israel is developing a multilayered aerial defense system that has drawn global attention. (ANI/TPS)