Israel ranked world's 8th largest defense supplier

Elbit Systems helmet

Sales by Israel's four largest defense companies, led by Elbit Systems, topped $8.6 billion in 2016.

Israel was rated in eighth place among the world's leading sellers of weapons systems last year. In 2016, Israel's four leading defense companies - Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT), Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1), Rafael Advanced Defense Systems Ltd., and Israel Military Industries Ltd. (IMI) - had $8.6 billion in sales to the defense market.

The ranking is by international accounting firm Baker Tilly, based on figures from US weekly "Defense News." The rating of the world's 100 leading defense companies is solely according to their sales to the defense markets, and does not include civilian market sales and revenue.

Elbit Systems was the leading Israeli defense company in defense sales in 2016, although when civilian sales are included, IAI had larger sales. Elbit Systems was ranaked 27th in the world in defense sales, while IAI was ranked in 33rd place.

According to Baker Tilly, Elbit Systems' defense sales totaled $3.1 billion in 2016, compared with $2.6 billion for IAI. Rafael rose from 41st place in Baker Tilly's international rankings for 2015 to 37th place for 2016 with $2.3 billion in sales, up 17%, compared with the preceding year, making it one of the world's fastest growing defense companies, according to Baker Tilly.

In contrast to most of the defense companies in Baker Tilly's ranking, Rafael's business is all in the defense industry. IMI is further down the list in 92nd place with $496 million in sales in 2016, compared with 90th place in 2015. Baker Tilly's analysis of the Israeli companies on the list was led by its strategy consulting division head, Yaki Baranes.

Baranes told "Globes" today that in comparison with his firm's rankings in 2010, most of the Israeli had companies had improved their places on the global list: Rafael was in 28th place in 2010, IAI in 36th place, Rafael in 47th place, and IMI in 97th place.

Baranes predicts that IAI's ranking will improve in the current year, following a series of major weapons deals signed in India in recent months, including the sale of Barak 8 missiles. IAI's sales of these systems in India total $2.5 billion. According to Baker Tilly, the world leader in defense sales is US company Lockheed Martin, with $43.4 billion in sales in 2016.

Published by Globes [online], Israel Business News - - on August 3, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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