Israel Aerospace Industries has won an additional $777 million contract to supply long-range, surface-to-air missile defense systems to seven ships in the Indian navy, the company said on Wednesday.
The system is part of the Barak 8 family of air defense systems and has long-range water and land engagement capabilities allowing it to intercept all types of aerial targets, such as subsonic and supersonic missiles, fighter aircraft, maritime patrolling aircraft, helicopters, and sea-skimming missiles.
According to IAI, the Barak 8 interceptor can engage multiple targets simultaneously, "in severe saturation scenarios" and independent of the weather, making it one of the most advanced projectiles of its kind.
The system was developed by the IAI in collaboration with Israel's Defense Ministry, India's Defense Research and Development Organization, the navies of both countries, Rafael Advanced Defense Systems and local industries in India and Israel.
With this deal, sales of Barak 8 over the past few years total over $6 billion, IAI said.
"IAI's partnership with India dates back many years and has culminated in joint system development and production," IAI CEO Nimrod Sheffer said.
"India is a major market for IAI and we plan to reinforce our positioning in India, also in view of increasing competition.
"Israel Aerospace Industries will continue to develop the company's business strategy and its core growth engines, like Barak 8, alongside the development of new air defense systems," he said.
IAI Executive VP Boaz Levy said, "We thank our partners in India for choosing the IAI. This project reflects the close technological cooperation between Israel and India and … is another badge of honor to the capabilities of this advanced weapon system, which is the company's main growth engine."
Defense Minister Avigdor Lieberman welcomed the deal.
"Congratulations to the Israel Aerospace Industries and the defense establishment on this huge deal and the sale of Barak 8 to India. This proves, yet again, that defense and security are an investment and not an expense. IAI is a national asset that we must bolster and maintain," he said.
