Israel-Hamas Conflict to boost sales of 'Iron Dome'

The global market  which has diverted defense spending to other needs since the global economic crisis in 2008.The 'Iron Dome', developed with technical and financial assistance from the US is Israel's frontline anti-missile system, with the Jewish state developing it in tandem with a more sophisticated Arrow system.

 After the ceasefire was announced yesterday, the Israeli Defence Minister Ehud Barak today thanked his US counterpart Leon Panetta, for the American support of the 'Iron Dome' counter-rocket system.

'Iron Dome' protected Israelis from the barrage of missile attacks by Hamas by successfully intercepting them in the middle of the air.

According to various accounts, the 'Iron Dome' system intercepted between 80-90 per cent of the rockets being fired by Hamas and allied Palestinian groups from Gaza.

 Barak described the anti-missile system as "unprecedented" and said, it "managed to make Tel Aviv and other cities nearly
impregnable" to missile fire.

"The system intercepted over 85 per cent of rockets fired at Israeli civilians and provided decision space for Israel to achieve its strategic goals without forcing further military actions," Pentagon Press Secretary George Little, said.

 Panetta today in his call with Barak said that he is impressed by the 'Iron Dome' system and looks forward to continuing to support the system for the benefit of Israel's security, Little said.

 Well aware of the importance of this defence system, US President Barack Obama, in 2011, had secured an additional USD
205 million to help produce an Israeli-developed short-range rocket defence system, which has helped defend Israeli communities against rocket attacks by successfully intercepting rockets.

In July 2012, Obama provided an additional USD 70 million to Israel to ensure that Israel could maximise its production of the 'Iron Dome' system for 2012.

 Over the next three years, the Obama Administration intends to request additional funding for 'Iron Dome', based on an annual assessment of Israeli security requirements against an evolving threat."My goal is to ensure Israel has the funding it needs each year to produce these batteries that can protect its citizens.

That is why going forward over the next three years, we intend to request additional funding for Iron Dome, based on an annual assessment of Israeli security requirements against an evolving threat," Panetta said after his meeting with Barak in May this year.

 "This is part of our rock solid commitment to Israel's security and comes on top of approximately USD 3 billion in annual security assistance for Israel," Panetta had said.