Iron Dome shootdowns of Gaza rockets cost $31m to $37m: Israel

JERUSALEM (REUTERS) - Israel's Iron Dome interceptions of Palestinian rockets during eight days of Gaza fighting cost US$25 million to US$30 million (S$31 million to S$37 million), the Israeli government said on Thursday, arguing the United States-backed system was well worth the money.

"Were Iron Dome traded on the (Tel Aviv) stock exchange or Nasdaq, it would have multiplied its share value several times over," Civil Defence Minister Avi Dichter told Israel Radio in an interview where he outlined the system's outlay.

Using radar-guided interceptor missiles, Israel's five truck-towed Iron Dome batteries shot down 421 of some 1,500 rockets launched from the Gaza Strip between Nov 14 and Wednesday's Egyptian-brokered truce, the military said.

It put Iron Dome's success rate at 90 per cent. To lower costs, the system engages only rockets that threaten populated areas, though it often fires two interceptor missiles at once.