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Israeli firms may gain if U.S. boosts defence

Tuesday, February 28, 2017 - 01:36

Hopes are high in Israel for stronger commercial and strategic ties under U.S. President Trump, with cyber security and defence firms standing to benefit. Laura Frykberg reports.

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An opportunity perhaps for Israeli firm Elbit Systems. The defence electronics company - one of the world's biggest suppliers of drones and helmet based systems Has multiple subsidiaries in the U.S. It could be one of many in Israel's booming tech sector to win more contracts under a proposal by Donald Trump. The U.S. President plans to boost defence spending. (SOUNDBITE) (English) JON MEDVED, CEO OF EQUITY CROWDFUNDING FIRM OURCROWD, SAYING: "This is going to probably help Israel's tech industry. Israel is strong in all of these areas. In terms of cyber security, Israel is a world power. Of the 1800 estimated cyber security start ups in the world, over 400 are here in Israel." Israel also hopes to capitalise on the controversial border wall with Mexico. Magal Security Systems is making a push to help build it. The company helped build the West Bank barrier. Since Trump was elected its shares have soared 60 percent. (SOUNDBITE) (English) JON MEDVED, CEO OF EQUITY CROWDFUNDING FIRM OURCROWD, SAYING: "Israel is also very, very good obviously in anything having to do with border defence and border security to the extent that becomes an important issue in the U.S and it seems like it will, those companies will benefit." Another company which could cash in is Israel's Aerospace Industries. It, along with others in the defence industry - account for 14 percent of the country's exports. Trump's proposals could see that increase, assuming of course he can get them through Congress.

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Israeli firms may gain if U.S. boosts defence

Tuesday, February 28, 2017 - 01:36