Israeli defense firms report record profits amid ongoing Gaza conflict

Since October 2023, Israel has intensified its military operations in Gaza against Hamas, leading to significant destruction and civilian casualties. The conflict has also escalated tensions with Hezbollah in Lebanon and Houthi rebels in Yemen. Despite the devastation in Gaza and Lebanon, Israeli defense companies are experiencing record profits. Orders for major firms like Elbit Systems and Israel Aerospace Industries have surged by over 25% in 2024, driven by increased demand for advanced defense systems. Recent agreements with the Israeli Defense Ministry, valued at around NIS 1 billion, aim to enhance military capabilities. This growth in arms sales has bolstered Israel's economy and military reputation, even as international criticism of its actions continues.