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6 September 2024

Thanks To U.S. & India, Israel’s Weapons Sale ‘Breaking Records’ Despite War On Multiple Fronts

Prakash Nanda

What is more noteworthy is that Israeli defense industries like Rafael Advanced Defense Systems Ltd., Israel Aerospace Industries (IAI), and Elbit are not only producing a formidable list of advanced weapon systems for the Israel Defense Forces (IDF) but also finding increasing demand for their products in the international arms bazaars.

For instance, a just-released news report says that Rafael has attained robust financial results for the second quarter of 2024. The company achieved sales of NIS 3.9 billion ($1.1 billion), marking a 25% increase compared to the same period last year.

New orders in the second quarter reached NIS 6.4 billion ($1.7 billion), a 65% jump from the same quarter in 2023. For the first half of 2024, Rafael secured orders totaling NIS 14.2 billion ($3.8 billion), representing a 34% increase compared to the first half of 2023.

Rafael’s net profit for the first half of 2024 stood at NIS 364 million ($98 million), up from 110 million in the second half of 2023. In the second quarter alone, net profit reached NIS 132 million, compared to 61 million in the same period last year.

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