I think they are finally learning the lesson. They can’t depend on anyone, especially Biden. Make your own weapons.
Israel "can" make more of those expensive weapons, including things like "smart" bunker busters, but that expense undercuts the rest of the economy. It gets much tougher when the time comes to produce things like F-35's: There are good reasons few countries produce such items. All in all, it's just not a viable long term strategy.