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ATGM are over rated.

At least that appears to be the lesson learned in the Israel/Hezbollah throwdown last summer.

The Israelis, as they have in all past wars, collected detailed information on each tank that was hit by enemy fire. Israel won't, for obvious reasons, release all this information. But they have provided some data. There were "several hundred" Merkavas sent into southern Lebanon in 2006. Of those, ten percent were hit by enemy fire (including mines and roadside bombs). Merkava faced modern anti-tank guided missiles (ATGM) for the first time in 2006. Only 18 tanks were seriously damaged, and only a third of those were from several hundred ATGMs fired by Hizbollah. Only two of the 18 heavily damaged tanks were destroyed, and both of those were damaged by roadside bombs. In those two cases, the tank was over the bomb when it was detonated.
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