Israel Defence and Security Report 2017
BMI View: Israel possesses one of the largest defence sectors globally, and local manufacturers export arange of items - particularly in the electronics segment - to a variety of countries. We forecast Israel'sdefence spending to remain above 5% of GDP throughout the coming decade despite budget constraints, asthe country seeks to maintain its qualitative military edge over its neighbours through new procurementsand the development of new systems. Domestic demand for defence equipment will also be driven byelevated security threats, especially from Hamas and Hizbullah, as well as the risk of conflict with Iran.
For 2017, we expect defence spending to grow by 10.0% in US dollar terms, to USD18.8bn, although thestrong shekel explains part of the increase in dollar terms. As a percentage of GDP, however, the militarybudget remains high at 5.3%, when compared globally.
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