Israel sets defence export record for fourth year, surpassing $14.7 Bn in 2024

Israel’s Ministry of Defence (IMOD) has announced that the country has achieved a new all-time high in defence exports for the fourth consecutive year, reaching $14.795 billion in 2024, a 13 per cent increase compared to 2023. The data was presented by IMOD Director General Maj Gen. (Res.) Amir Baram and Brig. Gen. (Res.) Yair Kulas, head of the International Defence Cooperation Directorate (SIBAT), to Defence Minister Israel Katz.

Over the past five years, Israel’s defence exports have more than doubled. In 2024 alone, Israeli defence companies secured hundreds of contracts worldwide, with 56.8 per cent of the deals classified as “mega-deals” worth over $100 million each. The largest market was Europe, accounting for 54 per cent of total exports, up from 35 per cent in 2023. Other regional shares include Asia-Pacific (23 per cent), Abraham Accords countries (12 per cent), North America (9 per cent), Latin America (1 per cent), and Africa (1 per cent).

The surge in exports is attributed in part to the operational success of Israeli systems during the ongoing war that began on October 7, 2023. Despite operating under emergency conditions and prioritising domestic needs, Israeli defence industries continued fulfilling international contracts, which boosted global demand.

Missiles, rockets, and air defence systems made up nearly half (48 per cent) of the total export volume, a sharp rise from 36 per cent in 2023. Satellite and space systems also saw notable growth, accounting for 8 per cent of exports, up from 2 per cent the previous year. Other key export segments included armoured vehicles (9 per cent), radar and electronic warfare (8 per cent), and manned aircraft systems (8 per cent).

The record-breaking figures reinforce Israel’s position as a leading global defence exporter and highlight growing international trust in its cutting-edge military technologies.