search
Front > News

Israeli defense firms beat world average in revenue growth

Israeli defense companies credit: Tali Bogdanovsky
Israeli defense companies credit: Tali Bogdanovsky
15 Dec, 2024 9:41
שלח תגובה במיילDean Shmuel Elmas

The three Israeli defense firms in the SIPRI top 100 reported higher than average growth but did not all climb in the global rankings.

Total revenue of the world's 100 largest defense companies rose by 4.2% in 1023 from the previous year. The list includes Israel's three biggest defense companies - Israel Aerospace Industries (IAI), Elbit Systems (TASE: ELST; Nasdaq: ELST), and Rafael Advanced Defense Systems - who due to the war which broke out last year saw combined revenue rise 15% last year to $13.6 billion.

These figures have been reported by the Stockholm International Peace Research Institute (SIPRI), which ranked Israeli defense companies fourth in 2023 in terms of the rate of growth, after Russia (40%), South Korea (39%), and Japan (35%).

On the other hand, French defense companies saw revenue decline 8.5% in 2023 compared with the previous year. This may explain why French President Emmanuel Macron, has worked so hard to keep Israeli defense companies away from the prestigious defense exhibitions in his country.

In 2023, Elbit Systems reported revenue of $5.38 billion, up 14% from 2022, although its ranking by SIPRI in the top 100 fell from 24th to 27th. Israel Aerospace Industries revenue grew 15.4% in 2023 to $4.49 billion from $3.89 billion in 2022, and it rose from 37th to 34th in the rankings. Rafael, with revenue of $3.73 billion in 2023, up 16% from 2022, rose in the rankings from 44th to 42nd.

Published by Globes, Israel business news - en.globes.co.il - on December 15, 2024

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024

Israeli defense companies credit: Tali Bogdanovsky
Israeli defense companies credit: Tali Bogdanovsky
Forbes Rich List credit: Shutterstock Maslowski Marcin Wiz founders ranked in Forbes 2025 Rich List

There are a few dozen Israelis listed in the 2025 Forbes Real-Time Billionaires List including Wiz founders Assaf Rappaport, Yinon Costica, Roy Reznik and Ami Luttwak.

SatixFy CEO Nir Barkan credit: Ariel Barkan Canada's MDA Space to buy Israeli satcom co SatixFy

MDA Space will pay $269 million for the Israeli company, including taking on a $76 million debt and a 75% premium on SatixFy's closing price on Nasdaq yesterday.

Raising dollars credit: Shutterstock Israeli startups raised over $1b in March

Israeli privately-held tech companies have raised $2.1 billion in the first three months of 2025, according to IVC-LeumiTech, up 24% from the corresponding quarter of 2024.

Terminal 1 credit: Personal image Terminal 1 reopening revives Israel low-cost fare options

With the opening of the terminal for international flights, the Irish low-cost airline Ryanair has returned to Israel and with it, double-digit US dollar round-trip fares.

Arkady Volozh credit: Shlomi Yosef Analysts see Israel-linked Nebius challenging CoreWeave

Nebius, founded by Yandex founder Arkady Volozh, operates in CoreWeave's AI server market, but is growing "more rationally", and has far less debt.

Bezalel Smotrich and Amir Yaron credit: Knesset Spokesperson and Tali Bogdanovsky Retail chains, credit card cos could soon act as banks

Israel's financial regulators have proposed that supermarket chains, credit card companies and investment houses will be able to accept deposits and offer credit.

Elbit Systems rocket launcher credit: Elbit Systems Elbit Systems wins $130m European rocket order

The order is for the supply of rockets for Elbit's Precise and Universal Launching System (PULS), which has an effective range of up to 300 kilometers.

Nvidia VP Ali Kani credit: Nvidia Nvidia intensifies efforts to compete with Mobileye

"Globes" talks to Nvidia VP and automotive team head Ali Kani about the chipmaker's autonomous vehicle activities and assesses the threat to Mobileye.

Fitch ratings agency credit: Shutterstock Fitch reaffirms Israel's A rating with negative outlook

The ratings agency said, "The negative outlook reflects rising public debt, domestic political and governance challenges and uncertain prospects for the conflict in Gaza."

Tamar rig credit: PR Sovereign Wealth Fund earned handsome returns in 2024

Israel's Sovereign Wealth Fund, known as the Citizens' Fund, had assets worth about $2 billion at the end of 2024, the Ministry of Finance reports.

Fencing goes up Petah Tikva's Segula neighborhood credit: NTA Work on Metro to begin in Petah Tikva

The first work on the Tel Aviv Metropolitan underground railways system will begin on the M2 line depot in Petah Tikva.

Startups credit: Shutterstock/NicoElNino IVC-LeumiTech: Tech fund raising jumps 24% in Q1

Israeli privately-held tech companies raised $2.13 billion in the first quarter of 2025, up 24% from the corresponding quarter of 2024, but down 12% from the preceding quarter.

Miri Regev and Yitzhak Rochberger credit: Yediot Ahronot/ Reuven Kapuchinsky and Amit Shabi Ramat Hasharon wants railway station for the Mossad

Ramat Hasharon is pushing for a station in Glilot neat the Mossad headquarters, even though a new station is also planned for Glilot South, 1.6 kilometers away.

Prime Minister Benjamin Netanyahu credit: Reuven Kastro Police call Netanyahu for testimony as aides arrested

Jonatan Urich and Eli Feldstein are being held over alleged payments received from Qatar while working in the prime minister's bureau.

Highcon chairperson Shlomo Nimrodi credit: PR Packaging tech co Highcon winding down

The company, which numbers Benny Landa and JVP among its investors, is laying off most of its workforce, having lost 99.9% of its value since its flotation.

MK Almog Cohen credit: Danny Shem-Tov, Knesset Spokesperson's Office Netanyahu halts Nevatim airport bill

Legislation mandating construction of an airport at Nevatim, near Beersheva, is ready for final Knesset approval, but the prime minister blocked it after a security cabinet meeting.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018