Israeli arms firms post record revenues in 2024 amid surge in defence exports

Tel Aviv [Israel], December 21 (ANI): Israeli arms manufacturers recorded their highest-ever revenues in 2024, driven by a sharp rise in defence exports, according to official data released by the Israeli government, Al Jazeera reported on Sunday.

According to Al Jazeera, Israel's defence exports rose by 13 per cent last year compared to 2023, reaching a record level of nearly USD 15 billion. Missiles, rockets and air-defence systems accounted for the bulk of the exports, the statement said.

More than half of Israel's defence deliveries in 2024 were made to European countries, while significant shipments were also sent to the Asia-Pacific region, led by India, Al Jazeera reported.

Israel currently ranks among the world's top 10 arms-exporting nations.

The surge in revenues came amid international scrutiny of Israel's military operations in Gaza. Israel is facing a case at the International Court of Justice brought by South Africa, while the International Criminal Court has issued arrest warrants against Israeli Prime Minister Benjamin Netanyahu and Israel's former Defence Minister Yoav Gallant over alleged war crimes.

Israeli arms trade analyst Shir Hever, speaking to Al Jazeera, said importing countries were aware of the legal and ethical implications of purchasing Israeli weapons.

He said that under international law, third countries have obligations regarding trade with states accused of war crimes and crimes against humanity.

In addition to conventional weapons, Israeli defence exports include advanced surveillance and artificial intelligence-based technologies, such as facial recognition systems. These tools are deployed extensively in the occupied West Bank and Gaza, according to rights groups, Al Jazeera reported.

Israel's Ministry of Defence said Europe accounted for 54 per cent of total defence exports in 2024, up from 36 per cent in 2023.

The Asia-Pacific region represented 23 per cent of exports, while the United States accounted for 9 per cent, Al Jazeera reported.

Despite growing demand, some countries, including Spain, have introduced restrictions on arms imports from Israel, citing humanitarian and legal concerns. (ANI)

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