financetom
Business
financetom
/
Business
/
Israel Aerospace sees interest in Arrow system that repelled Iran's missiles
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Israel Aerospace sees interest in Arrow system that repelled Iran's missiles
May 16, 2024 1:24 AM

JERUSALEM, May 16 (Reuters) - Israel's Arrow defense

systems helped thwart Iran's massive missile and drone attack

last month, and a number of countries are now interested in

purchasing the technology, said the developer's chief executive.

Iran's overnight attack between April 13 and 14, repelled by

Israel's multi-tiered defense shield with the help from allies,

included more than 100 ballistic missiles.

The Arrow system, according to Israel's air force, "carried

out the main part" in their interception.

That success immediately drummed up global interest, said

Boaz Levy, CEO at state-owned Israel Aerospace Industries

(IAI), the project's main contractor.

The U.S. is a partner in the Arrow project and Boeing ( BA )

is involved in its production.

"A number of countries have approached us asking for

information," Levy told Reuters. "I'm very optimistic that there

will be more deals for the Arrow system, especially after the

very special demonstration we did."

He declined to name any of the countries since talks are in

the early stages.

Arrow is the upper layer of Israel's missile defenses,

together with the Iron Dome, which takes out short-range threats

like mortars and rockets, and mid-range defender David's Sling.

Arrow-2 has been around for years and intercepts ballistic

missiles at long range. The newer Arrow-3 specializes in

knocking out missiles while they are still outside Earth's

atmosphere.

Israel, with U.S. approval, agreed last year to sell the

Arrow-3 system to Germany in a $3.5 billion deal, its biggest

ever defense sale. The agreement comes as Germany and its

neighbors in Europe are boosting defense spending in the wake of

Russia's war in Ukraine.

The Germany deal took almost two years to sign, Levy said,

and that would likely be the time frame of new deals in the

works. The process is handled between governments and again

would need U.S. approval, he said.

Each Iron Dome interceptor, used frequently to shoot down

rockets from Gaza and Lebanon, is estimated to cost about

$50,000. The Arrow missiles are on a different level.

"The cost of the Arrow interceptor is on par with similar

interceptors around the world, even cheaper. The amount passes a

million dollars," Levy said, without elaborating.

Iran's attack spurred IAI to boost both production of

current Arrow systems and also the development of its next

generation, the Arrow-4, which will replace Arrow-2.

"It's in a very accelerated process towards the start of

production. And we are doing this in full coordination with the

security establishment here in Israel and the Missile Defense

Agency in the United States," Levy said.

He declined to say when Arrow-4's development would be

complete.

(Editing by Toby Chopra)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
EU looks to accelerate ban on Russian LNG in new sanctions package, official says
EU looks to accelerate ban on Russian LNG in new sanctions package, official says
Sep 18, 2025
BRUSSELS, Sept 18 (Reuters) - The European Commission is discussing a proposal to bring forward a ban on Russian liquefied natural gas in a new package of sanctions against Moscow over its invasion of Ukraine, an EU official said. The new push follows a call between European Commission chief Ursula von der Leyen and U.S. President Donald Trump on Tuesday....
What's Going On With Plug Power Stock?
What's Going On With Plug Power Stock?
Sep 18, 2025
Plug Power Inc ( PLUG ) shares are trading higher by 33% over the past week, lifted by a favorable macroeconomic shift and growing optimism for the hydrogen sector. The stock’s ascent has coincided with the Global X Hydrogen ETF ( HYDR ) , of which Plug Power ( PLUG ) is a major holding, touching a new 52-week high...
Lionsgate Studios to Cut 5% of Staff in Latest Round of Layoffs, CEO Says
Lionsgate Studios to Cut 5% of Staff in Latest Round of Layoffs, CEO Says
Sep 18, 2025
12:51 PM EDT, 09/18/2025 (MT Newswires) -- Lionsgate Studios ( LION ) is eliminating an additional 5% of its companywide workforce, according to a Thursday internal memo from Chief Executive Jon Feltheimer. The move follows a previous 8% reduction, Feltheimer said in the memo, adding that the layoffs are part of a strategy to adapt the company to an industry...
--Washington Trust Bancorp Keeps Quarterly Dividend at $0.56 a Share, Payable Oct. 10 to Shareholders of Record Oct. 1
--Washington Trust Bancorp Keeps Quarterly Dividend at $0.56 a Share, Payable Oct. 10 to Shareholders of Record Oct. 1
Sep 18, 2025
12:53 PM EDT, 09/18/2025 (MT Newswires) -- Price: 30.11, Change: +0.81, Percent Change: +2.76 ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved