ISRAELI arms company Elbit Systems reported record profits today, as Israel’s ongoing wars and remilitarisation drives across the world have boosted revenues.

Elbit’s first-quarter revenues rose to almost $2.2 billion (£1.6bn) from just under $1.9bn (£1.4bn) in the same period last year, while profits were up 59 per cent on a year ago. The company has a backlog of orders worth over $30bn (£22.3bn).

Israel’s continuing military occupation of most of Gaza, heightened aggression in the occupied West Bank of Palestine and war against Iran and Lebanon have raised demand for munitions, missiles and drones, which its military can buy with considerable assistance from the United States which currently provides $3.8bn (£2.8bn) in military aid every year.

Orders from elsewhere also rose, with Israel marketing its weaponry as “battle-tested” because of their constant use by the highly militarised state against its neighbours.

One major new contract was announced to modernise the military of “a European customer.” No country was named but Germany has signed several new agreements with Israel recently on strengthening its armed forces.