- Lockheed Martin, Boeing, RTX among companies supplying weapons used in bombardments
- European firms Rheinmetall, BAE Systems also report soaring backlogs
ISTANBUL
As Israel’s genocidal war on Gaza devastates civilian life, global defense companies are quietly reaping the rewards. From Washington to London and Berlin, arms makers have reported soaring revenues, record backlogs and surging demand – turning a genocide into a lucrative business opportunity.
As of May 2025, Israel had dropped more than 100,000 tons of explosives on Gaza, according to the Gaza media office. That’s the equivalent of more than six Hiroshima bombs.
The bombardment, which has killed tens of thousands and left much of the enclave in ruins, has meant a windfall for the world’s biggest defense contractors.
The US is Israel’s primary military supplier, with over $310 billion in aid since its founding. However, even a 2024 US report concluded that “it is reasonable to assess” that American weapons have been used “in instances inconsistent with” Israel’s obligations under international law.
US defense giants such as RTX, Lockheed Martin and General Dynamics have all reported rising sales in the Middle East. While companies rarely break down sales by country, the vast majority of recent Middle East contracts are tied to Israel, especially since October 2023.
In Europe, Britain’s BAE Systems and Germany’s Rheinmetall have also highlighted sharp increases in orders, as governments boost military budgets in response not only to the war in Ukraine but also to Israel’s campaign in Gaza, which has intensified global demand for armaments.
Lockheed Martin
Israel’s F-16 and F-35 fighter jets – the workhorses of the bombing campaign in Gaza – are made by Lockheed Martin, the world’s largest defense company.
Its AGM-114 Hellfire missiles, fired from Apache helicopters, have been widely used in Gaza since 2023 and are among the primary weapons in the campaign.
Lockheed also makes the CH-53K King Stallion heavy-lift helicopter, which ferries Israeli troops into and out of Gaza, and the M270 Multiple Launch Rocket System (MLRS), used for artillery barrages.
The American firm reported $5.5 billion in sales to the Middle East since October 2023, according to US Securities and Exchange Commission (SEC) filings. In 2024, global revenues climbed 5.1% to $71 billion, though net earnings fell 22% to $5.3 billion.
The company said its aeronautics division, which includes the F-16 and F-35, brought in $28.6 billion, up 4% from 2023. The missiles and fire control segment, which includes the Hellfire and MLRS, saw sales increase 13% to $12.68 billion.
Meanwhile, its segment that includes services for helicopters used by Israel increased its sales by 6% to $17.26 billion in 2024.
Boeing
The Israeli Air Force has relied on Boeing F-15 fighter jets in every major assault on Gaza and Lebanon.
Boeing’s KC-46 Pegasus refueling planes are also strengthening the Israeli military’s long-range strategic capabilities. Last August, Israel’s Defense Ministry said it plans to buy two more in a $500 million deal to be financed with US military aid, adding to its current fleet of four.
The company also supplies AH-64 Apache attack helicopters.
Another key weapon in Israel’s arsenal is Boeing’s 250-pound GBU-39 small-diameter bomb, which Israel has dropped widely on Gaza.
Boeing, the world’s seventh-largest arms manufacturer, saw its defense division account for 36% of total sales in 2024, generating $23.9 billion, according to its SEC filings.
The unit’s backlog of military orders climbed to $64 billion – $5 billion more than the year before.
RTX
RTX Corporation, the world’s second-largest arms manufacturer, supplies Israel with some of the deadliest weapons in its arsenal. These include cluster bombs, bunker busters and guided air-to-surface missiles fired from Israeli F-16s.
Raytheon, an RTX subsidiary, co-produces Iron Dome interceptors with Israel’s Rafael. These interceptors have been included in recent US arms shipments to Israel.
Another subsidiary, Pratt & Whitney, makes the engines powering F-15 and F-16 fighter jets.
Since October 2023, RTX has sold $6 billion worth of weapons to customers in the Middle East and North Africa. Globally, sales in 2024 surged 17% to $80.7 billion, according to RTX' SEC filings.
Raytheon’s missile and defense division reported $26.7 billion in revenues, up 1.3%. Pratt & Whitney saw a 53% sales surge, reaching $28 billion.
“RTX’s commercial manufacturing facilities in Israel remain open and operational and have continued exporting products and importing critical items and raw materials,” the company said in an SEC filing.
“RTX’s defense programs’ ability to receive components from Israel has not been impacted in any material respect, although we could experience future delivery delays of certain products if further escalations arise,” it added.
General Dynamics
General Dynamics, the world’s fifth-largest weapons manufacturer, provides Israel with key munitions for the Gaza war. The company produces artillery rounds of the 155mm caliber, which have been heavily used in bombardments, and manufactures the metal bodies for the MK-80 bomb family – one of the primary aerial weapons dropped on Gaza.
General Dynamics also provides the Israeli military with weapon systems and components for its armored combat and personnel vehicles.
In 2024, General Dynamics sold $1.68 billion worth of military equipment to the Middle East and Africa, up 46% from 2023, according to its SEC filings Total revenues reached $47.7 billion, an increase of 13%.
Its Combat Systems division, covering tanks, armored vehicles, and munitions, posted $9 billion in sales, up 8.8%. sales in its weapons and munitions segment, which includes production of MK-80 bomb casings, also surged 20% to $2.9 billion.
Rheinmetall
Germany’s Rheinmetall supplies Israel with 120mm precision tank ammunition, which has been widely used in the ground assault on Gaza, according to Der Spiegel.
The company, Germany’s largest arms manufacturer, saw total revenues rise 35% in 2024 to $11.4 billion. Its weapons and ammunition sales surged 58% to $3.26 billion, according to its financial reports.
The backlog of Rheinmetall’s military orders reached $64.5 billion last year, nearly 45% higher than in 2023.
BAE Systems
BAE Systems, the UK’s biggest defense contractor and the world’s sixth-largest arms producer, manufactures the M109 howitzer. The 155mm mobile artillery system has fired thousands of shells into Gaza during the war.
The company also provides missile-launching kits and electronic components used on Israel’s F-15, F-16 and F-35 fighter jets.
BAE’s global sales rose 13% in 2024 to $38 billion. Its air segment reported $11.4 billion, up 7%, with backlogged orders of $36 billion, according to the firm's financial reports.
Its platforms and services division, which covers artillery, vehicles and munitions, brought in $5.9 billion, up 15%, with backlogs climbing 24% to $19.2 billion.