The second parade took place in 1949, on Israel's first independence day, in Tel Aviv. It failed in the process because the overenthusiastic crowd burst into the parade ground. It was nicknamed "The parade that did not march".
Starting with the third parade in 1950, annual parades were held on the country's independence day, ending in 1968. Citing financial concerns, it was then decided that the parade should only be held on special occasions. The last IDF parade thus took place in 1973, on Israel's 25th birthday.
The Israel Defense Forces still has weapon exhibitions country-wide on Independence Day, but they are stationary and have a limited scale.