Israel’s defense companies continue to cement their position on the global stage, with Elbit Systems, Israel Aerospace Industries and Rafael all ranking among the world’s 30 largest defense companies, according to a ranking published Tuesday by American magazine Defense News. The milestone comes as Elbit announced Tuesday morning that it had signed $270 million in new contracts with an international customer.
1+Elbit said the contracts, worth approximately $270 million in total, will be carried out over a period of up to six years. Under the agreements, the company will supply advanced intelligence, surveillance and target-acquisition systems from its SPECTRO family, incorporating AI technologies. Elbit will also provide AMPS NG systems for airborne intelligence and target-acquisition missions. The company enters the new deal with a record order backlog of $32 billion as of the end of the second quarter
Only the U.S. and China Rank Higher
Rafael also entered the ranks of the world’s 30 largest defense companies after placing 31st last year. It joins fellow Israeli defense giants Elbit, ranked 21st, and Israel Aerospace Industries, ranked 27th. In the country rankings, Israel places third globally, behind only the United States and China.
1+$20 Billion a Year
The three companies generate combined annual defense revenues of more than $20 billion from military and security activities alone, positioning tiny Israel as a defense powerhouse with an outsized global impact. American defense giant Lockheed Martin holds the top spot, with approximately $72 billion in defense