Acquiring a helo-carrier would line them up perfectly for a future JSF purchase. Of course, such a platform would certainly make a lot of other North African/South West Asian countries a lot more edgey. And Israel would have to oufit the vessel with a considerable AA/CIWS suite, most likely using a development of the Barak missile and other "homegrown" systems. Ideally, being an area of prodigeous numbers of corvettes and other light fast attack craft, they certainly should incorporate a decent number of automatic guns (several 20-30mm, and 4 of the 76mm SuperRapid guns would sufficiently cover the quadrants. Obviously, it won't have a battle group escorting it, so sufficient self-protection is a must. And it would certainly start up an even bigger arms race in that region, because Israel's neighbors would want to be sure they had enough effective assets to disable the vessel if a conflict arose (so the need for sufficient numbers of close in weapons/ anti-missile systems becomes more necessary). But it certainly would afford Israel an ideal platform for any joint US/Israeli Mediterranean operations, showing the flag, and could even offer a large mobile support platform in event of any catastrophes and disasters in the Med region. It could also provide Israeli defense industries with an ideal platform to increase their weapons programs' prowess: developing larger systems for larger vessels, and it could put them into a bigger market. And anyone's economy can use such a boost..

What in the hell are they going to do with an aircraft carrier? What possible mission could it have?

I've never read anything that would indicate such a possibility. Israel simply couldn't afford one, esp. given the need for escort/support vessels. I'm under the impression that their navy is more interested in aquiring another Dolphin sub, which would already stretch its resources to the breaking point. Besides, what would Israel do with such a thing? If it went anywhere far from Israel itself it would be extremely vulnerable.

The Israeli forces are primarily designed for defending Israel, and Israel has no requirement for force projection. As other posters have pointed out, the Israeli Navy is small, and so any carrier would also need a large fleet to go with it.

Most I'm actually seeing is they have more of an interest in an amphibious assault-type platform more than a dedicated air operations system. But obviously, they would have ASW concerns in mind, and even moreso, amphibious landing ops. You'll just have to read the funny papers and keep reading up..

why would they need one? it would just sit in the meditteranean sea eating money. the real question is whether Israel is going to replace their f-15s any time soon.

The only possible mission for an Israeli carrier would be into the Arabian/Persian Gulf. Power projection to harass the Iranians would be its only possible use. The problem though is that in as limited a geographic area as that it would be a sitting duck. You would also have a problem with how to transit it there, since the Egyptians would sooner bottle up the Suez again as let Israeli craft through. Remember, the main mission of the Israeli Navy is coastal defense. They have no need for power projection of that kind.

The real question is, where would Israel build one? I don't recall Israel having the shipbuilding infrastructure to build a ship that big. I doubt it could get away with buying one from another country (or paying the country to build one for them.) Maybe China, but I can't help but feel this would create too much opposition from the Arab world who would use their oil clout against China. Even if they could build one, I think the overall investment (the carrier, the planes, the escorts, etc.) required would easily outweigh the potential benefits. It could also easily exacerbate the Mid-East arms race. "If Israel has a carrier, then there would have to be a Muslim carrier." Finally, as has been pointed out, carriers are essentially blue water creatures. They are ill at ease in confined waters. The British carrier experience in the Med during WWII was not particulary good.

And that was with Malta, Gib, Cyprus and armoured decks on the CVs. I think that Isreal is the best aircraft carrier the Isrealis could wish for.

The Israelis don't "show the flag". It gets shot at too many places. We had an Israeli military delegation in town once. They travel in unmarked aircraft.