INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Israel’s Rafael ties up with Lockheed Martin to make new laser weapon

    • Rafael has already developed — along with Israel Aerospace Industries — a similar, but non-laser, defense system

    • Called the Iron Dome, it is a mobile all-weather air defense system employed by several countries across the world

    Israel-based Rafael Advanced Defense Systems and US weapons-maker Lockheed Martin have reportedly joined hands to develop a ground-based laser weapon for Israel, local reports have said.

    The two companies signed a Principles of Cooperation agreement in this regard, said the local reports.

    Lockheed Martin was also quoted in a statement as saying that the two companies would “also explore opportunities to market this system in the US.”

    It added in the statement: “The companies will explore opportunities and technology implementations for developing a ground-based laser weapon system.”

    In its pursuit of better laser technology, Israel’s Defense Ministry has reportedly made several breakthroughs in the development of a system that can intercept a variety of aerial threats, including rockets and unmanned aerial vehicles.

    The method of airborne interception using a powerful laser has many advantages, like a low cost per interception, the ability to effectively intercept long-range threats at high altitudes regardless of weather conditions, and the ability to defend vast areas.

    Rafael has already developed — along with Israel Aerospace Industries — a similar, but non-laser, defense system that Israel now markets to the world.

    Called the Iron Dome, it is a mobile all-weather air defense system that is employed by several countries across the world.