Israel News: Putin just kept watching, while Israel made bumper money in the middle of the war

Israel News: While Russia is facing a huge decline in its arms exports due to being embroiled in the Ukraine war, on the other hand, Israel has created history in the arms market despite being war-torn. In the year 2024, Israel sold weapons worth a record $ 14.8 billion - this is the highest figure of its defense exports till date.

Demand increased amid war

This achievement of Israel is also special because it itself is fighting on many fronts - Gaza, Syria, Lebanon, Yemen and even Iran. Despite this, the demand for its weapons is increasing rapidly in the world. According to the Israeli Defense Ministry, its defense exports have registered a 13% increase in 2024. This figure was $ 13 billion in 2023.

Russia vs Israel: Two pictures of war

According to the report of SIPRI and Jamestown Foundation, Russia's arms exports have fallen by 92% between 2021 and 2024. Continuous wars, economic sanctions and delivery hurdles have almost pushed Russia out of the international arms market. In contrast, Israel's "proven in battle" technology is being praised worldwide. Its weapon systems are being considered to stand the test of modern warfare.

Europe became the biggest customer

The largest share of Israel's arms exports in 2024 came from Europe. 54% of the total exports went to European countries - up from just 35% in 2023. The $3.8 billion Arrow-3 missile defense system deal with Germany was the biggest defense deal this year. European countries are increasing their military capabilities due to the growing distance from Russia, and Israel has become a major beneficiary of this.

Israeli hold in India and Asia

The demand for Israeli weapons is constantly increasing in countries like India, Philippines, Singapore and Vietnam. During 2020-2024, India bought 13% of its total arms imports from Israel, while the Philippines bought 27%. Israeli defence technology is also gaining ground in Arab countries — from a mere 3% in 2023 to 12% in 2024. Morocco has even bought Elbit's howitzers, PULS rocket systems and satellites.

Best-selling weapons

Missiles, air defence systems and rockets accounted for the biggest share of Israel's total defence exports, accounting for 48% of the total exports. These were followed by products such as armoured vehicles (9%), manned aircraft (8%), cyber and intelligence systems (4%), and drones and UAVs (1%).

Accelerating pace

Although Israel's share in the global defence market between 2020-2024 has been only 3.1%, its growth rate has been much faster than other countries. In contrast to war-torn Russia, Israel is emerging as a technology-driven military exporter, capitalising on its strategic position in the arms market.