CENTEF report reveals Hezbollah acquired $157m of weapons in 2024, majority provided freely by Iran

What Happened

According to a report published Thursday by the Israeli Center for Research of Terror Financing (CENTEF), Hezbollah acquired an estimated $157 million worth of weapons and military equipment in 2024 despite its war with Israel. The report, "Hezbollah Financial Statements," estimates that Iran provided roughly $129 million of that total as an in-kind grant, while Hezbollah spent approximately $28 million in cash on its own acquisitions. CENTEF based its estimates on open-source information, valuations of known Hezbollah military assets, and three methods: historical arsenal replenishment rates, Iran's manufacturing and delivery capacity, and global cost benchmarks for equipping military forces. CENTEF estimated Hezbollah acquired roughly 4,500-6,500 rockets and missiles during 2024, including approximately 4,000 short-range rockets (with 122mm Katyushas priced at about $300 per round), 400 Falaq rockets, 120 Burkan rockets, 600 Fajr-series rockets, 60 Zelzal-2 rockets, 40 Fateh-110/M-600 missiles, 150 GPS guidance kits, and 12 Paveh land-attack cruise missiles. The report notes Iran is estimated to produce 50 to 240 ballistic missiles per month and 1,800 to 3,000 attack drones per year, placing a ceiling on Hezbollah's guided missile and drone acquisitions. CENTEF described its approach as treating Hezbollah as a business entity to assess financial health and identify supply chains to disrupt, according to CENTEF CEO Sharon Gal and researcher Marc Cohen.

Key Actors

Why It Matters

The report frames Hezbollah's arsenal as dependent on Iranian in-kind transfers, making Tehran's production capacity and supply corridors the critical pressure points. By quantifying the group's weapons acquisitions and financing, CENTEF aims to give legislators and operators a basis for targeted supply-chain disruption instead of costly airstrikes that carry significant consequences for Lebanese civilians. The findings also underscore the scale of Iran's material commitment to Hezbollah despite the 2024 conflict and repeated disruptions to the supply corridor.

Watch For

Monitor CENTEF's promised interactive tool and subsequent installments of the Hezbollah Financial Statements series, which are planned to expose the group's media spending, payments to wounded fighters, and military infrastructure costs. Also watch for any policy or legislative responses to the report that aim to disrupt Iranian weapons transfers to Hezbollah, and for further estimates of Hezbollah's post-2024 replenishment rates.