Rafael, Lower Saxony and Aurelius to develop Volkswagen site in Germany
If completed, the agreement would give Rafael a new production site in Germany, at a Volkswagen location slated to close.
If completed, the agreement would give Rafael a new production site in Germany, at a Volkswagen location slated to close.
In an interview with Breaking Defense, Yoav Tourgeman acknowledged that questions remain about how exactly the Israeli defense giant would go public.
The current market presents an opportunity for the Israeli government to raise billions of dollars while improving the companies' efficiency and access to capital.
Both Elbit Systems and Rafael plan to attend Eurosatory, despite a new ban on Israeli government officials attending.
The MRIC centers around Israel’s famed Iron Dome and uses a truck-mounted Iron Dome launcher with Tamir interceptors.
Today’s announcement comes more than two years after the Army began hunting for a second interceptor for its developmental IFPC Inc 2 launcher.
The deal, the latest push by the Israeli firm into the European market, is valued at approximately $390 million.
The Israeli Ministry of Defense and Rafael Advanced Defense Systems delivered the first Iron Beam system to the Israeli Air Force on Dec. 29.
Companies from Israel, the UAE and Turkey made an estimated $31 billion in arms revenue in 2024, according to a new report.
The Iron Dome money comes as a result of a $8.7 billion aid package passed by the US Congress in April 2024, which included $5.2 billion for air defense assets.
Yoav Tourgeman, the CEO and president of Rafael, told Breaking Defense that he's not concerned about sales to Europe being heavily impacted by politics.
The company said the weapon combines “high-speed transit, seeker precision and mission persistence for contested operational environments."
The Israeli MoD called today’s news a “global technological and engineering breakthrough.”