The Indian press reports that Rafael Armament Development Authority has agreed a huge deal with the Indian Army to supply advanced anti-aircraft systems with a range of up to 45 kilometers. The deal, worth $1 billion, was reportedly approved by the Indian cabinet yesterday.
Rafael will supply the Indian army with its Spyder low-level quick-reaction surface-to-air missile system capable of engaging aircraft, helicopters, unmanned air vehicles, drones and precision-guided munitions.
The Indian Army acquired Spyder systems worth $270 million a year ago. The system incorporates a pilot's helmet (display head-up HVD) manufactured by Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT), which automatically locks onto targets.
In the latest deal, Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) will serve as a sub-contractor of Rafael. In another recent contract with the Indian army for the supply of Barak ship defense missiles, Rafael is acting as a subcontractor for IAI.
Israel's defense exports to India have now reached $3 billion, making it the largest arms supplier to India, even surpassing Russia.
Friday, August 21, 2009
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