Europe Drives Record Jump in Israel’s Security Exports, Reaching $14.8 Billion in 2024

Israel’s security exports rose more than 13% in 2024, to $14.8 billion from $13.1 billion in 2023, according to figures released by the Ministry of Defense. The source notes that this growth came in a difficult year for Israeli exports overall, which shrank by 5.6% in 2024. The source states that the figures are based on a voluntary report submitted by security companies. It also says that the value of Israeli defense exports has doubled since 2019, and it links the growth partly to a rise in global military spending, which the Stockholm International Peace Research Institute (SIPRI) reported increased by 9.4% in 2024.

Europe was the largest destination for the increase. According to the source, the continent accounted for 54% of Israeli security exports in 2024, up from 35% in 2023, rising from $4.6 billion in 2023 to nearly $8 billion in 2024. The source attributes part of this demand to Russia’s war in Ukraine and to European concern about Russian drone attacks there. It also comments on how U.S. policy under Donald Trump, including his stated unwillingness to keep funding the U.S. defense of Europe against eastern threats, could affect future figures, though it says those effects would appear only in reports covering 2025.

The source describes risks in these European markets. It reports that Spain’s Ministry of Defense is freezing a deal worth close to a billion shekels to buy Spike missile systems from Rafael because of the situation in Gaza. It says that people involved in the sector report that images from Gaza and accusations that Israel is responsible for the humanitarian disaster there are affecting current talks with defense ministries, and that Israeli officials have been told openly that approval of some deals may be a problem. The source also says that arms deals in European legislatures and parliamentary committees have faced challenges from members of parliament seeking to stop purchases from Israel, and that competitors of Israeli arms companies have used the war in Gaza to warn customers about systems used by the Israel Defense Forces (IDF) there.

By product area, the source reports that air defense, missiles and rockets accounted for 48% of Israeli security exports in 2024, making it the largest category. It says the jump in that area was linked to European concern over Russian drone attacks on Ukraine. The source adds that air defense systems are expensive per unit and that more than half of Israeli export transactions, 56.8%, were worth at least $100 million. It names Arrow, Magic Wand and Iron Dome as systems that saw increased procurement. Armored and combat vehicles, satellites and space, radar and electronic warfare, and manned aircraft and avionics each accounted for smaller shares, with armored and combat vehicles at 9% and the other three at 8% each.

Regional patterns were mixed. The source reports that Israel’s security exports to Asia fell from $6.3 billion to $3.4 billion, and that the decline followed large deals with India and Azerbaijan signed in 2023 that were not repeated in 2024. Sales to the Abraham Accords countries, the United Arab Emirates, Bahrain, Morocco and Sudan, rose compared with 2023 but remained well below 2022, reaching $1.8 billion, or 12% of total security exports, in 2024. The source notes that the 2022 figure was about $3 billion.

The source also includes forecasts and official statements. Attorney Itay Mack, who has monitored Israeli export policy for several years, is quoted as saying that a jump in deals with India may come in 2025 because of escalation between India and Pakistan, and that the effect of European security budgets may be seen in 2025 as well. Defense Ministry Director-General Maj. Gen. Amir Baram said the record “expresses more than any growing global appreciation for the performance of Israeli technology,” and that more countries want to protect their citizens with Israeli weapons. Brig. Gen. (res.) Yair Coles, identified in the source as head of the Defense Ministry’s Security Exports Division, said the result was the fourth consecutive year of record-breaking Israeli defense exports and that the defense industries’ connection with the Defense Ministry and the IDF gives advantages in world markets, which he said is a point of protecting vulnerable civilians (Proverbs 31:8-9).

Source: Read the original report (translated from Hebrew)