Eight Israeli companies are attending the 2008 Singapore Air Show, which opened today and will continue through February 24. The companies include Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT), Israel Aerospace Industries Ltd. (IAI), Rafael Advanced Defense Systems Ltd., Rada Electronic Industries Ltd. (Nasdaq: RADID), Orbit Alchut Technologies Ltd. (TASE:ORBI), and Bental Motion Systems Ltd.. This year's Singapore Air Show is expected to draw 80,000 visitors to the more than 900 displays from 42 countries.
The participating Israeli companies will display a number of developments, including unmanned aerial vehicles (UAV), most of which have operated in combat conditions; avionics systems for combat jets, helicopters, and UAVs; and hybrid UAV engines. Israel is a prominent player in two important global markets: UAVs, estimated at $54 billion in 2006-16; and command and control systems, estimated at $2.6 trillion over the next 20 years.
Israel Export and International Cooperation Institute chairman David Arzi said that, despite growth in recent years, Israel's defense exports still have only a small market share, which meant great potential for expansion. He estimated the global aerospace at $1.3 trillion dollars. "Israel is one of the top five defense exporters in the world," he added.
Published by Globes [online], Israel business news - www.globes-online.com - on February 18, 2008
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