The crisis in Israel’s arms industry

Last month the heads of four major Israeli arms firms warned their government of a “major crisis” in the country’s arms industry. The value of arms exports is falling at the rate of at least $1 billion per year, the CEOs wrote.

In their letter to Prime Minister Benjamin Netanyahu they warned that “military exports have dropped from $7.5 billion in 2012, to $6.5 billion in 2013, and further to $5.5 billion in 2014. This year we are expecting exports to total $4-4.5 billion.”

That means that by the end of this year, the three-year fall in exports could amount to as much as $3.5 billion. What accounts for this dramatic situation?

Continue reading over at MEMO.

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