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Future of the Israeli Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024

  • ID: 4767164
  • Report
  • Region: Israel
  • 165 pages
  • GlobalData
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FEATURED COMPANIES

  • Boeing
  • Elbit Systems
  • Elisra Systems
  • Elta Systems
  • General Dynamics
  • IMI Systems
  • MORE
Future of the Israeli Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024

Summary

Israel’s gross defense expenditure is anticipated to be US$130.3 billion cumulatively over the forecast period. Driven by the need to secure itself against potential threats from Iran, Saudi Arabia, Syria, and to a certain extent, Egypt, Israel has traditionally focused on developing a robust and aggressive defense posture. Israel, remains surrounded by enemies and potential rivals and thus the country can ill afford to ignore security risks that have the potential to develop into a major security threat in future. As one of the largest defense markets in the Middle East, Israel allocated a gross budget of US$20.3 billion in 2019 and is likely to continue spending heavily on fortifying its defense and security apparatus.

During the period 2015 to 2019, the Israeli gross defense expenditure increased from US$18.1 billion in 2015 to US$20.3 billion in 2019, reflecting a CAGR of 2.90% over the analysis period. However, the Israeli defense expenditure is anticipated to grow rapidly from US$21.9 billion in 2020 to US$30.5 billion in 2024, registering a CAGR of 8.59% over the forecast period. The growth can be partially attributed to US$19 billion worth of military aid that the country is scheduled to receive from the US between 2019 and 2023, coupled with the country’s plans to boost its investments in missile defense capability by about US$8-10 billion over the next decade.

Over the forecast period, Israeli defense expenditure as a percentage of GDP is anticipated to maintain an average of 4.5%, driven primarily by the Palestine conflict and the threats posed by the increasing influence of Iran and Hezbollah within neighboring Syria. Israel is expected to focus its expenditure on the procurement of fighter aircraft, missiles, corvettes, nuclear capable submarines, border security equipment, and communication systems, among others. These procurement plans are expected to maintain Israel’s capital expenditure allocation at 52.5% even in 2024.

Israel has one of the most advanced defense industries worldwide and the country has consistently ranked among the top 10 defense exporting countries globally. During 2013-2017, Israel was ranked eighth on the list of the highest arms exporting countries, with a share of 2.9% of the global arms market. During the period 2014-2018 India was the single largest customer for Israeli defense equipment, accounting for 46.3% share of the Israeli defense exports. Azerbaijan and Vietnam were ranked as the second and third largest markets for Israeli defense equipment accounting for 17.4% and 8.5% respectively. Asia is the major defense market for Israeli defense equipment and accounts for a 78.7% share of Israeli defense exports during the period 2014-2018.

The Israeli government imported fighter aircraft, naval vessels, missiles, armored vehicles, engines, sensors, and artillery systems during 2014-2018. The US accounted for 50.8% of Israeli defense imports during this period, while India emerged as the single largest customer for Israeli defense goods with a share of 46.3%. The three key Israeli arms export categories were missiles, air defense systems and sensors.

The report "Future of the Israeli Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024", offers detailed analysis of the Israeli defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following -
  • The Israeli defense industry market size and drivers: detailed analysis of the Israeli defense industry during 2020-2024, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure and modernization patterns
  • Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to the army, navy, and air force. It also details the key challenges faced by defense market participants within the country
  • Porter’s Five Force analysis of the Israeli defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry
  • Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
  • Market opportunities: details of the top five defense investment opportunities over the next 10 years
  • Competitive landscape and strategic insights: analysis of the competitive landscape of the Israeli defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis
Companies mentioned: General Dynamics, Navistar Defense, Lockheed Martin, Raytheon , Boeing , Rafael Advanced Defense Systems,Israel Aerospace Industries (IAI), Elta Systems, Israel Shipyards, Elbit Systems, Elisra Systems, IMI Systems, TSG IT Advanced Systems Ltd, Plasan and SimiGon

Scope
  • Israel’s defense expenditure as a percentage of its GDP is anticipated to increase to an average of 4.5% over the forecast period. The Israeli defense budget, which stands at about US$17.6 billion in 2019.
  • Between 2015 and 2019, the country’s capital expenditure allocation stood at an average of 52.1% of the total defense budget, and is expected to increase slightly to an average of 52.6% over the forecast period. Overall, Israel is projected to spend a total of US$68.5 billion on the acquisition of military hardware between 2020 and 2024.
  • The MoD is expected to invest in physical security of critical infrastructure, land-based C4ISR systems, infrastructure construction , Armored Personnel Carriers (APC), Multirole Fighter aircraft and Corvettes among others.
Reasons to Buy
  • This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Israeli defense industry market trends for the coming five years
  • The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
  • Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
  • A deep qualitative analysis of the Israeli defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts.
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Boeing
  • Elbit Systems
  • Elisra Systems
  • Elta Systems
  • General Dynamics
  • IMI Systems
  • MORE
1. Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. About the Publisher

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities
3.1. Current Market Scenario
3.1.1. Primary threat perception
3.1.2. Military Doctrine & Strategy
3.1.3. Procurement Programs
3.1.4. Social, Political and Economic Environment & Support for Defense Projects
3.1.5. Political and Strategic Alliances
3.2. Defense Market Size Historical and Forecast
3.2.1. Israel’s gross defense expenditure (inclusive of income dependent expenditure) to register a CAGR of 8.74% over 2020-2024
3.2.2. Israel’s net defense expenditure (excluding income dependent expenditure) to register a CAGR of 9.52% over 2020-2024
3.2.3. Israeli revenue dependent expenditure, inclusive of US military aid, will post a forecast-period CAGR of 6.07%
3.2.4. Hostile neighborhood, combined with terrorist threats, will continue to drive Israeli defense expenditure
3.3. Analysis of Defense Budget Allocation
3.3.1. The defense budget as a percentage of GDP is expected to be 4.5% over the forecast period
3.4. Analysis of Defense Budget Allocation
3.4.1. The majority of Israel’s defense budget is earmarked for capital expenditure
3.4.2. Capital expenditure forecast to increase at a CAGR of 8.69% over 2020-2024
3.4.3. Per capita defense expenditure expected to increase over the forecast period
3.5. Homeland Security Market Size and Forecast
3.5.1. Israeli homeland security market expected to grow at a CAGR of 5.75% over the forecast period
3.5.2. Measures to curb illegal immigration and organized crime to drive homeland security expenditure over the forecast period
3.6. Benchmarking with Key Global Markets
3.6.1. Israel is one of the largest defense spenders in the Middle East
3.6.2. The US has the largest defense expenditure in the world
3.6.3. Israeli defense expenditure expected to reach 4.9% of GDP by 2024
3.7. Market Opportunities: Key Trends and Growth Stimulators
3.7.1. Top 10 Defense Sectors by Value (US$ Million) - Projections over 2019-2024
3.7.2. Critical Infrastructure Protection - Physical Security
3.7.3. Land-based C4ISR
3.7.4. Infrastructure Construction

4. Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Defense imports increased after 2014 reaching highest point in 2015
4.1.2. The US accounted for over 64.1% of Israeli defense imports during 2014-2018
4.1.3. Aircraft accounted for the majority of Israeli defense imports
4.2. Export Market Dynamics
4.2.1. Israel exports a major portion of its domestic defense production
4.2.2. India, Azerbaijan and Vietnam emerged as the largest importers of Israeli defense equipment
4.2.3. Missiles, sensors and air defense systems were the most exported defense goods

5. Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining Power of Supplier: Medium-High
5.1.2. Bargaining Power of Buyer: High
5.1.3. Barrier to Entry: Low to Medium
5.1.4. Intensity of Rivalry: High
5.1.5. Threat of Substitution: Medium to High

6. Market Entry Strategy
6.1. Market Regulation
6.1.1. Offset policy requires foreign OEMs to invest 50% of the contract value in Israel
6.1.2. Defense sector remains closed to foreign direct investment
6.2. Market Entry Route
6.2.1. Procurement Policy and Process
6.2.2. Foreign companies penetrate the market by supplying arms
6.2.3. Foreign OEMs form alliances to market products in the global defense industry
6.3. Key Challenges
6.3.1. Israeli defense industry highly dependent on the US
6.3.2. Monopolistic competition

7. Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.1.1. Israeli Market Share Analysis, 2019-2024
7.1.2. Domestic companies fulfill the majority of Israeli defense requirements
7.2. Key Foreign Companies
7.2.1. General Dynamics: Overview
7.2.2. General Dynamics: Products
7.2.3. General Dynamics: Recent Announcements and Strategic Initiatives
7.2.4. General Dynamics: Alliances
7.2.5. General Dynamics: Recent Contract Wins
7.2.6. Navistar Defense: Overview
7.2.7. Navistar Defense: Products
7.2.8. Navistar Defense: Recent Announcements and Strategic Initiatives
7.2.9. Navistar Defense: Alliances
7.2.10. Navistar Defense: Recent Contract Wins
7.2.11. Lockheed Martin: Overview
7.2.12. Lockheed Martin: Products
7.2.13. Lockheed Martin: Recent Announcements and Strategic Initiatives
7.2.14. Lockheed Martin: Alliances
7.2.15. Lockheed Martin: Recent Contract Wins
7.2.16. Raytheon: Overview
7.2.17. Raytheon: Products
7.2.18. Raytheon: Recent Announcements and Strategic Initiatives
7.2.19. Raytheon: Alliances
7.2.20. Raytheon: Recent Contract Wins
7.2.21. Boeing: overview
7.2.22. Boeing: products and services
7.2.23. Boeing: recent announcements and strategic initiatives
7.2.24. Boeing: alliances
7.2.25. Boeing: recent contract wins
7.3. Key Public Companies
7.3.1. Rafael Advanced Defense Systems: Overview
7.3.2. Rafael Advanced Defense Systems: Products
7.3.3. Rafael Advanced Defense Systems: Recent Announcements and Strategic Initiatives
7.3.4. Rafael Advanced Defense Systems: Alliances
7.3.5. Rafael Advanced Defense Systems: Recent Contract Wins
7.3.6. Israel Aerospace Industries: Overview
7.3.7. Israel Aerospace Industries: Products
7.3.8. Israel Aerospace Industries: Recent Announcements and Strategic Initiatives
7.3.9. Israel Aerospace Industries: Alliances
7.3.10. Israel Aerospace Industries: Recent Contract Wins
7.3.11. Elta Systems: Overview
7.3.12. Elta Systems: Overview
7.4. Domestic Private Companies
7.4.1. Israel Shipyards: Overview
7.4.2. Israel Shipyards: Products
7.4.3. Israel Shipyards: Recent Announcements and Strategic Initiatives
7.4.4. Israel Shipyards: Recent Contract Wins
7.4.5. Elbit Systems: Overview
7.4.6. Elbit Systems: Products
7.4.7. Elbit Systems: Recent Announcements and Strategic Initiatives
7.4.8. Elbit Systems: Alliances
7.4.9. Elbit Systems: Recent Contract Wins
7.4.10. Elbit Systems: Financial Analysis
7.4.11. IMI Systems: Overview
7.4.12. IMI Systems: Products and Services
7.4.13. IMI Systems: Recent Announcements and Strategic Initiatives
7.4.14. IMI Systems: Alliances
7.4.15. IMI Systems: Recent Contract Wins
7.4.16. Elisra Systems: Overview
7.4.17. Elisra Systems: Products
7.4.18. Elisra Systems: Recent Announcements and Strategic Initiatives
7.4.19. Elisra Systems: Alliances
7.4.20. Elisra Systems: Recent Contract Wins
7.4.21. TSG IT Advanced Systems Ltd.: Overview
7.4.22. TSG IT Advanced Systems Ltd.: Products and Services
7.4.23. TSG IT Advanced Systems Ltd.: Recent Announcements and Strategic Initiatives
7.4.24. TSG IT Advanced Systems Ltd.: Alliances
7.4.25. TSG IT Advanced Systems Ltd.: Recent Contract Wins
7.4.26. Plasan: Overview
7.4.27. Plasan: Products
7.4.28. Plasan: Recent Announcements and Strategic Initiatives
7.4.29. Plasan: Alliances
7.4.30. Plasan: Recent Contract Wins
7.4.31. SimiGon: Overview
7.4.32. SimiGon: Products
7.4.33. SimiGon: Recent Announcement and Strategic Initiatives
7.4.34. SimiGon: Alliances
7.4.35. SimiGon: Recent Contract Wins

8. Business Environment and Country Risk
8.1. Economic Performance
8.1.1. GDP Per Capita
8.1.2. GDP, Current Prices
8.1.3. Export of Goods and Services (LCU Billion)
8.1.4. Import of Goods and Services (LCU Billion)
8.1.5. Gross National Disposable Income (US$ Billion)
8.1.6. Local Currency Unit per US Dollar
8.1.7. Market Capitalization of Listed Companies
8.1.8. Market Capitalization of Listed Companies (% of GDP)
8.1.9. Government Cash Surplus/Deficit as a Percentage of GDP
8.1.10. Goods exports as a Percentage of GDP
8.1.11. Goods imports as a Percentage of GDP
8.1.12. Service Imports as a Percentage of GDP
8.1.13. Service Exports as a Percentage of GDP
8.1.14. Foreign Direct Investment
8.1.15. Net Foreign Direct Investment as a Percentage of GDP
8.1.16. Mining, Manufacturing, Utilities Output (LCU Bn)

9. Appendix
9.1. About the Publisher
9.2. Disclaimer

List of Tables
  • Table 1: Israeli - Ongoing Development and Procurement Programs, 2019
  • Table 2: Israeli - Future Procurement Programs, 2019
  • Table 3: Israeli Top Defense Procurement Programs by Value (US$ Million), 2019-2024
  • Table 4: Israeli Defense Cooperation
  • Table 5: Israeli Military Training Exercises
  • Table 6: Israeli Gross Defense Expenditure (ILS Billion & US$ Billion), 2015-2024
  • Table 7: Israeli Net Defense Expenditure (ILS Billion & US$ Billion), 2015-2024
  • Table 8: Israeli Revenue Dependent Defense Expenditure Including US Aid (ILS Billion and US$ Billion ), 2015-2024
  • Table 9: Israeli GDP Growth vs Defense Expenditure as a Percentage of GDP Growth, 2015-2024
  • Table 10: Israeli Defense Budget Split Between Capital and Revenue Expenditure (%), 2015-2024
  • Table 11: Israeli Defense Capital Expenditure, (ILS Million & US$ Billion), 2015-2024
  • Table 12: Israeli Per Capita Defense Expenditure (US$), 2015-2024
  • Table 13: Israeli Homeland Security Expenditure, (ILS Billion & US$ Billion), 2015-2024
  • Table 14: Benchmarking with Key Markets - 2015-2019 vs 2020-2024
  • Table 15: Top Israeli Defense Sectors by Value (US$ Million), 2019-2024
  • Table 16: Israeli Defense Offset Regulations
  • Table 17: Market Entry by Key Foreign OEMs
  • Table 18: Competitive Landscape of the Israeli Defense Industry
  • Table 19: Top Defense Suppliers in the Israeli Defense Industry By Value (US$ Million), 2019-2024
  • Table 20: General Dynamics - Products
  • Table 21: General Dynamics - Alliances
  • Table 22: General Dynamics - Recent Contract Wins
  • Table 23: Navistar Defense - Products
  • Table 24: Navistar Defense - Alliances
  • Table 25: Navistar Defense - Recent Contract Wins
  • Table 26: Lockheed Martin - Products
  • Table 27: Lockheed Martin - Alliances
  • Table 28: Lockheed Martin - Recent Contract Wins
  • Table 29: Raytheon - Products
  • Table 30: Raytheon - Alliances
  • Table 31: Raytheon - Recent Contract Wins
  • Table 32: Boeing - Product Focus
  • Table 33: Boeing - Alliances
  • Table 34: Boeing - Recent Contract Wins
  • Table 35: Rafael Advanced Defense Systems - Products
  • Table 36: Rafael Advanced Defense Systems - Alliances
  • Table 37: Rafael Advanced Defense Systems - Recent Contract Wins
  • Table 38: Israel Aerospace Industries - Products
  • Table 39: Israel Aerospace Industries - Alliances
  • Table 40: Israel Aerospace Industries - recent contract wins
  • Table 41: Elta Systems - Key Products
  • Table 42: Israel Shipyards - Products
  • Table 43: Israel Shipyards: Recent Contract Wins
  • Table 44: Elbit Systems - Products
  • Table 45: Elbit Systems - Alliances
  • Table 46: Elbit Systems - Recent Contract Wins
  • Table 47: IMI Systems - Products and Services
  • Table 48: IMI Systems - Alliances
  • Table 49: IMI Systems - Recent Contract Wins
  • Table 50: Elisra Systems - Products
  • Table 51: Elisra Systems - Alliances
  • Table 52: Elisra Systems : Recent Contract Wins
  • Table 53: TSG IT Advanced Systems Ltd. - Products and Services
  • Table 54: TSG IT Advanced Systems Ltd. - Alliances
  • Table 55: TSG IT Advanced Systems Ltd. - Recent Contract Wins
  • Table 56: Plasan - Products
  • Table 57: Plasan - Alliances
  • Table 58: Plasan - Recent Contract Wins
  • Table 59: SimiGon - Products
  • Table 60: SimiGon - Alliances
  • Table 61: SimiGon - recent contract wins
List of Figures
  • Figure 1: Israeli Analysis of Defense Budget: 2020 and 2024
  • Figure 2: Israeli Defense Imports/Exports: 2014 and 2018
  • Figure 3: Israeli Top Five Prospective Procurements/Developments
  • Figure 4: Israeli National Security Threats
  • Figure 5: Israeli Partnering Countries for Defense Cooperation and Military Training
  • Figure 6: Israeli Gross Defense Expenditure (ILS Billion), 2015-2024
  • Figure 7: Israeli Gross Defense Expenditure (US$ Billion), 2015-2024
  • Figure 8: Israeli Net Defense Expenditure (ILS Billion), 2015-2024
  • Figure 9: Israeli Net Defense Expenditure (US$ Billion), 2014-2023
  • Figure 10: Israeli Revenue Dependent Expenditure (ILS Billion), 2015-2024
  • Figure 11: Israeli Revenue Dependent Defense Expenditure (US$ Billion), 2015-2024
  • Figure 12: Israeli - Defense Budget Including Revenue Dependent Expenditure vs Israeli Defense Expenditure Excluding Revenue Dependent Expenditure (US$ Billion), 2015-2024
  • Figure 13: Israeli GDP Growth vs Defense Expenditure as a Percentage of GDP, 2015-2024
  • Figure 14: Israeli Defense Budget Split Between Capital and Revenue Expenditure (%), 2015-2024
  • Figure 15: Israeli Capital Budget Allocation (ILS Billion), 2015-2024
  • Figure 16: Israeli Capital Budget Allocation (US$ Billion), 2015-2024
  • Figure 17: Israeli Per Capita Defense Expenditure (US$), 2015-2024
  • Figure 18: Israeli Homeland Security Budget (ILS Billion), 2015-2024
  • Figure 19: Israeli Homeland Security Budget (US$ billion), 2015-2024
  • Figure 20: Benchmarking with Key Markets - 2015-2019 v/s 2020-2024
  • Figure 21: Defense Expenditure of the World’s Largest Military Spenders (US$ Billion), 2019 and 2024
  • Figure 22: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2019
  • Figure 23: Israel’s Physical Security Market Size (US$ Million), 2019-2024
  • Figure 24: Israel’s Land Based C4ISR Market Size (US$ Million), 2019-2024
  • Figure 25: Israel’s Military Infrastructure Construction Market Size (US$ Million), 2019-2024
  • Figure 26: Top Israeli Defense Procurements in Terms of Their Supplier Relationships
  • Figure 27: Israel Defense Imports TIV Value (US$ Million), 2014-2018
  • Figure 28 : Israeli Arms Imports by Country, 2014-2018
  • Figure 29: Israeli Defense Imports by Category (%), 2014-2018
  • Figure 30 : Israeli Defense Exports TIV Value (US$ million), 2014-2018
  • Figure 31 : Israeli Defense Exports by Country (%), 2014-2018
  • Figure 32 : Israeli Defense Exports by Category (%), 2014-2018
  • Figure 33: Industry Dynamics - Porter’s Five Forces Analysis
  • Figure 34: Israeli Market Challenges
  • Figure 35: Israeli Market Share Analysis, 2019-2024
  • Figure 36: Elbit Systems, Revenue Trend Analysis, 2014-2018
  • Figure 37: Elbit Systems, Operating Profit Trend Analysis, 2014-2018
  • Figure 38: Elbit Systems, Net Profit Trend Analysis, 2014-2018
  • Figure 39: Israeli GDP Per Capita, 2015-2025
  • Figure 40: Israeli GDP, Current Prices (US$ Billion), 2015-2025
  • Figure 41: Israeli Export of Goods and Services (LCU Billion), 2005-2014
  • Figure 42: Israeli Import of Goods and Services (LCU Billion), 2005-2014
  • Figure 43: Israeli Gross National Disposable Income (US$ Billion), 2005-2014
  • Figure 44: Local Currency per US$, 2015-2024
  • Figure 45: Israeli Market Capitalization of Listed Companies (US$ Billion), 2005-2012
  • Figure 46: Israeli Market Capitalization of Listed Companies (% of GDP), 2005-2012
  • Figure 47: Israeli Government Cash Surplus/Deficit as a Percentage of GDP, 2005-2012
  • Figure 48: Israeli Goods Exports as a Percentage of GDP, 2005-2014
  • Figure 49: Israeli Goods Imports as a Percentage of GDP, 2005-2014
  • Figure 50: Israeli Service Imports as a Percentage of GDP, 2005-2014
  • Figure 51: Israeli Service Exports as a Percentage of GDP, 2005-2014
  • Figure 52: Israeli Foreign Direct Investment (US$ Billion), 2005-2014
  • Figure 53: Israeli Net Foreign Direct Investment as a Percentage of GDP, 2005-2014
  • Figure 54: Israeli Mining, Manufacturing, Utilities Output (LCU Bn), 2005-2014
Note: Product cover images may vary from those shown
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  • General Dynamics
  • Navistar Defense
  • Lockheed Martin
  • Raytheon
  • Boeing
  • Rafael Advanced Defense Systems
  • Israel Aerospace Industries (IAI)
  • Elta Systems
  • Israel Shipyards
  • Elbit Systems
  • Elisra Systems
  • IMI Systems
  • TSG IT Advanced Systems Ltd
  • Plasan and SimiGon
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
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