Israel Aerospace Industries (IAI) announced that it has expanded its agreement with Boeing on the Arrow Weapon System (AWS). Leaders of both companies gathered at IAI/MLM Division for a signing ceremony to celebrate the 10th anniversary of the partnership and to extend the commitment to work together.

"This new agreement is the next logical step in our relationship with Boeing and a strong opportunity for both companies to play a bigger role in the missile defense market. It is based on a strong foundation of successful cooperation," said Itzhak Nissan, IAI President and CEO.

The IAI-Boeing Strategic Teaming Agreement aims to explore and develop new opportunities in the missile defense arena. During the past 10 years, IAI and Boeing have collaborated on the successful development, production and deployment of AWS. As the world's first operational national missile defense system, AWS has become a vital, anti-ballistic missile defense strategy for Israel's national defense.

"We are pleased to mark this occasion with our partner IAI, as well as expand our agreement for future cooperation on missile defense initiatives," said Boeing Network & Space Systems President Roger Krone. "The Arrow program demonstrates Boeing's commitment to developing international missile defense partnerships around the globe."

IAI is the prime contractor for the AWS program. It has initiated, developed and deployed the in-service Arrow 2 program and, together with Boeing, is developing the Arrow 3 system - a crucial asset in Israel's multi-tier anti-ballistic defense strategy.The Arrow program has been a cooperative effort between the U.S. Missile Defense Agency and the Israel Missile Defense Organization since 2002.