August 22, 2019 / 9:52 AM / a month ago

Factbox: Israel a global leader in growing market for cyber weapons

FILE PHOTO: A man takes part in a training session at Cybergym, a cyber-warfare training facility backed by the Israel Electric Corporation, at their training center in Hadera, Israel July 8, 2019. REUTERS/Ronen Zvulun

TEL AVIV (Reuters) - Israel, a leading provider of hacking and surveillance tools known as cyber weapons, or spyware, is easing requirements on selling the technology abroad.

** Global demand for offensive cyber systems is expected to rise 39% by 2027 to $9.7 billion, according to defence research group Market Forecast, which identified companies in the United States, Israel and the European Union as dominating the market.

** Israel’s annual exports of cyber attack tools amount to hundreds of millions of dollars, a source close to the industry estimated. That’s a small chunk of Israel’s $7 billion in cybersecurity exports, which are dominated by defensive technologies and account for close to 10% of the global market.

** Israeli cyber startups have raised $539 million so far in 2019, compared with $828 million in all of 2018, according to data from Tracxn Technologies. This figure includes offensive and defensive technologies.

** London-based charity Privacy International ranked Israel in the top five globally for surveillance technologies, with 27 companies selling such systems.

Reporting by Ari Rabinovitch and Tova Cohen; Editing by Timothy Heritage and Giles Elgood

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