RAMALLAH, June 16 (JMCC) - Israeli defense companies hit a record high in arms sales in 2010, reports the Jerusalem Post
, making it one of the world's top four arms exporters.
Brig.-Gen. (res.) Shmaya Avieli, head of SIBAT, the Defense Ministry’s Foreign Defense Assistance and Defense Export Department, expressed satisfaction with the financial results for 2010 but said Israel is still facing a number of challenges due to the continued global economic crisis and the expected coalition withdrawal from Iraq and Afghanistan.
“We recognize the challenges but are working hard to maintain the level we are currently at and even to increase it,” Avieli said on Wednesday.
In total, Israeli defense companies sold $9.6b. worth of military hardware in 2010, out of which $2.4b. went to the IDF. In recent years, defense industries have invested in establishing joint ventures and partnerships in South America, Asia and South Korea.