Military exports by Israel increased by 40 percent in 2017, bringing in $9.2 billion in contracts, the International Defense Cooperation Directorate at the Defense Ministry, said Wednesday.

According to the International Defense Cooperation Directorate at the Defense Ministry, known as SIBAT, defence exports brought in $9.2 billion last year, compared to the $6.5 billion in 2016 and $5.7 billion the year before.

“This is a significant achievement for the Israeli defense export, which attests, above all, to the esteem and prestige accorded to the Israeli defense industries around the world, and the demand that their products have for their products,” said SIBAT Director Brig.-Gen.(Res.) Michel Ben-Baruch.

“The Israeli defense industries are highly respected and trusted in the world, thanks to advanced and high quality technologies based on unique solutions proven by the IDF,” Ben-Baruch added.

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Along with many small deals, several dozens of significant contracts have been signed, the largest of which is the contract for the supply of air defense systems Barak-8 of India worth $ 2 billion (MRSAM for 1.6 billion for SV and LRSAM for 0.4 billion for the Navy), and the total volume of transactions with India is almost $ 3 billion.

According to SIBAT, in 2017 Israeli companies exported missiles aerial defense systems (31%),  radar systems (17%), avionics (14%), dry ammunition (9%), communications systems (9%), observation and optics (8%), UAVs (2%),  marine systems (1%), satellites and space (1%).

The largest distribution of Israeli defense exports was in Asia Pacific, with 58 percent, followed by Europe with 21 percent, North America with 14 percent, Africa with 5 percent and Latin America at 2 percent.

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SIBAT chief Michel Ben-Baruch told reporters he expects similar levels of defence exports in 2018.