Greece close to $3.5b deal for Israeli air defense systems

Israel is expected to close a strategic deal of historic proportions with Greece for the sale of three Israel air defense systems for €3 billion ($3.5 billion). The price is similar to that of the sale of the Arrow 3 system to Germany. The deal with Greece is expected to include Rafael’s Spyder system, which will replace the Russian Osa-AK and Tor-M1 systems, Israel Aerospace Industries’ Barak MX, which will replace the Hawk system, and Rafael’s David’s Sling, which will replace the Russian S-300 system. The Israeli systems will be integrated into a new air defense array alongside Patriot missiles, which Greece will retain.

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“As a result of conflicts around the world and growing threats, the procurement of air defense systems is on the rise,” Israel Aerospace industries CEO Boaz Levy told “Globes.” “The Greeks know what they are getting, and it’s not for nothing that they’re talking about the Barak MX, because it can be used against aircraft, missiles, and ballistic missiles. This is a system that has been deployed operationally; whoever buys knows what they are buying. Interest in the system is not confined to Greece.”

The Barak MX system has been sold to several countries. The outstanding deal was with Azerbaijan in November 2023, amounting to $1.2 billion.

The large deal arises from the fact that Greece has for a long time not invested in its military technologies, and now finds itself a long way behind, particularly versus the main threat, from Turkey. The current deal is intended to cover the Thrace region and the eastern Aegean. Further deals are expected later on.

Published by Globes, Israel business news – en.globes.co.il – on December 1, 2025.

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