According to a recent GlobalData report titled “Israel’s defense market, 2023-28Israel’s defense budget is expected to increase from $24.4 billion in 2023 to $27.5 billion in 2028, while its procurement budget is expected to increase to $10.2 billion by the year 2028.
Akash Pratim Debbarma, an aerospace and defense analyst at GlobalData, found that the country is taking steps to modernize its defense capabilities by launching a series of strategic procurement programs. “These initiatives underscore the country’s proactive approach to maintaining its qualitative military superiority over potential adversaries,” Debbarma said.
According to Debbarma, the growing military capabilities of the Arab states in the region are a major obstacle to Israel’s ability to maintain its qualitative military advantage. “With perceived adversary Arab countries strengthening their own defense capabilities, Israel must persistently strive to maintain its technological edge and deterrent capability.”
The GlobalData report finds that Israel’s defense procurement budget experienced a compound annual growth rate (CAGR) of 17.1%, reaching $8.8 billion in 2023 from $4.7 billion in 2019.
Israel’s defense initiatives
Israel’s defense procurement initiatives go beyond simply acquiring foreign military equipment, as evidenced by the continued development of domestic procurement programs in partnership with Israel Aerospace Industries Ltd (IAI) and Elbit Systems.
A notable example is the Long Range Ordnance (LORA) weapon system, developed by IAI’s Salam division, consisting of a long-range surface-to-surface tactical missile. IAI’s LORA artillery weapon system weighs approximately 1,600 kg and is intended for strike scenarios with a range of up to 400 km with an accuracy of 10 meters or better.
In conjunction with Israeli Military Industries Systems (IMI), ISI also developed the Rampage conventional attack missiles, a stand-off precision air-to-surface missile (ASM) system, developed to specifically target high-value protected assets using GPS/ INS guided missile with anti-jamming capabilities.
IMI is also responsible for the production of the Predator Hawk conventional attack missile, a missile with a range of 300 kilometers and a circular error of less than 10 meters (CEP). This missile is designed to allow ground forces to target distant targets within the combat zone and is capable of carrying a diverse range of warheads.
The Israeli Missile Defense Organization (IMDO) and the US Missile Defense Agency (MDA) developed the Arrow 4 missile defense system with IAI as the prime contractor, providing an advanced interceptor missile to replace the Arrow-2 interceptors in the coming decades.
Reinforcement of naval and air fleets
US government approval sale of 25 F-35 Joint Strike Fighter aircraft to Israel in 2008, worth $15.2 billion, was a major development that will strengthen its air superiority. According to Debbarma, Israel’s investment in missile and missile defense systems, as well as in the field of fixed-wing military aircraft, is establishing itself as a desirable market for defense technologies. This move is expected to encourage innovation and collaboration within the industry.
With the addition of Sa’ar-6 corvettes and state-of-the-art missile systems, Israel’s surface fleet will receive a significant boost. This action is expected to enhance the nation’s naval capabilities and defense posture. The Israeli Navy is in the process of adding four brand new Sa’ar-6 corvettes to its fleet. The Israeli Navy’s Sa’ar corvettes, which are derived from the German Braunschweig-class corvette, have undergone extensive modifications to meet Israel’s unique requirements.
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