Israel and Slovakia have entered into a landmark agreement worth 2 billion shekels (USD 582 million) to enhance Slovakia’s air defence capabilities. This historic deal represents the largest defence export transaction between the two nations and underscores the growing global demand for Israeli military technology.
At the core of this agreement is the BARAK MX air defence system, a cutting-edge platform developed by Israeli Aerospace Industries (IAI).
Renowned for its versatility, the system is designed to counter a range of aerial threats, including fighter jets, helicopters, unmanned aerial vehicles, cruise missiles, and tactical ballistic missiles.
Its three types of interceptor rockets provide coverage for distances ranging from 35 to 150 kilometres, making it a comprehensive solution for modern defence needs.
Eyal Zamir, Director General of Israel’s Defence Ministry, highlighted the strategic significance of this deal. He noted that the rising global interest in Israeli combat systems is a reflection of their exceptional performance in real-world scenarios.
Zamir emphasised that defence exports are critical not only for Israel’s security but also for its economic stability, enabling the continued development of advanced military technologies.
The deal comes at a time when Israeli Aerospace Industries is experiencing unprecedented growth. In November, the company announced a record-breaking order backlog of approximately USD 25 billion.
This marks a substantial increase of USD 7.22 billion compared to the previous year, ensuring over three years of operations at current sales volumes.
Additionally, IAI reported a 74 per cent rise in net income during its third-quarter earnings, driven primarily by its Missile and Space Systems Division, which achieved USD 1.87 billion in sales in the first nine months of 2024.
The Arrow missile system, another key component of IAI’s portfolio, has earned global recognition, particularly for its advanced capabilities in missile defence.
Increased investment in research and development, rising to USD 81 million in the third quarter of 2024 from USD 65 million the previous year, has further bolstered the company’s innovation.
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