TEL AVIV — An Israeli defense major expects major rocket contracts in 2012.

The state-owned Israel Military Industries has released a forecast of a sharp increase in rocket sales over the next seven months. IMI said revenues from its Givon rocket division would reach $190 million, a sharp increase from $120 million in 2011.

“At IMI, we believe that the future is in rockets,” Givon chief executive officer Nathan Wechsler said.

In an interview with the Israeldefense.com web site, Wechsler did not detail IMI’s assessment of increased revenues in 2012. But he said Israel and foreign countries were examining a range of IMI rocket systems, with ranges of between 45 and 150 kilometers.

“While rockets have not been the mainstream for the Americans or the IDF, people have begun to realize in recent years that an artillery group composed of battalions of self-propelled cannons and rockets is an optimal solution,” Wechsler said.

Executives said the Israel Army was examining the purchase of IMI tactical rockets as part of the military service’s new rocket battalion.

They said the Army has identified IMI precision-guided surface-to- surface rockets as a priority in 2012. The Army sponsored a live-fire trial of IMI’s Accular guided rocket, based on the LAR-160.

IMI has long struggled amid a decline in orders from the Israeli military as well as the loss of such markets as India and Turkey. Givon was said to have an order backlog of $430 million, most of it comprised of foreign projects.

Executives said IMI has focused its marketing on the Lynx artillery rocket and the Extended-Range Artillery, or EXTRA, precision-guided rockets. They said the rockets, which could be fired on naval platforms, achieved a circle error of probability of less than 10 meters.

In the interview, Wechsler said Lynx, EXTRA as well as the Delilah cruise missile were sold to several foreign militaries. He did not identify the clients.

“We’re trying to sell extremely versatile systems,” Wechsler said. (Copyright © 2012 East West Services, Inc. 04/17/12)