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Israel plans to privatize state-owned defense firms Israel Aerospace Industries (IAI) and Rafael Advanced Defense Systems through public offerings on the Tel Aviv Stock Exchange, aiming to sell 25-30% of each by 2027 while retaining control. The move comes amid rising global military spending and a record $14.8 billion in Israeli arms exports in 2024, including significant contracts with Germany and other nations. IAI is valued at $20 billion, while Rafael is estimated at $10 billion.