United States support the production of Iron Dome weapon system from Israel with $249 million 130314.

The agreement, concluded last Wednesday, “ensures continued US funding for procurement of Iron Dome systems and interceptors, and provides for significant co-production opportunities for US industry. Under the terms of the agreement, $429 million will be transferred immediately to Israel to support Iron Dome procurement."

The Iron Dome system is capable of intercepting and destroying short-range rockets, and mortar and artillery shells, and is an invaluable component of Israeli missile defense. During Operation Pillar of Defense in 2012, Iron Dome was credited with saving countless Israeli lives, and was called a "game-changer" by many Israeli policy-makers.

It’s first major test came in November 2012, when Israeli officials claimed the system intercepted as many as 85 per cent of the rockets fired from Gaza during Israel’s eight-day battle with Hamas.

The agreement represents strategic value for both nations. Israel will obtain valuable resources to contribute to its defense and U.S. industry will receive meaningful co-production opportunities for Iron Dome components.

Israel has credited its Iron Dome mobile missile defence system with stopping at least three rockets fired from Gaza on Wednesday.

The Israeli Defense Force said at least 30 rockets were fired from two locations in the Gaza Strip, with at least eight rockets hitting urban areas. There were reports that rocket fire continued throughout the evening and the number of rockets being launched into Israel had climbed to more than 50.