IAI logs record annual sales and net income
Stronger military sales outweigh fall in commercial aviation-related sales amid COVID-19 pandemic.
Israel Aerospace Industries (IAI) posted record sales and net income in 2020, the company announced on 18 March when revealing its annual financial results.
Sales reached $4.2 billion (up by 1.85%) and net income rose by 48% year on year to reach $133 million.
R&D (in-house and contracted) exceeded the $1 billion mark for the first time, increasing by 13% in 2020 to about $1.04 billion.
IAI attributed sales growth mainly to increased demand for goods and services from its Elta subsidiary and the Systems Missiles & Space Group. Sales in the IAI Military Group in 2020 increased by 14% to $3.51 billion.
However, the crisis in civil aviation amid the COVID-19 pandemic contributed to an 18% fall in revenues from the Aviation Group to $1.19 billion.
Exports in 2020 accounted for 71% of sales, which was similar to the proportion recorded in 2019.
The year-end order backlog was slightly lower in 2020 ($12.6 billion versus $13.5 billion in 2019). Export customers accounted for 79% of the 2020 total.
As part of our promise to deliver comprehensive coverage to our Defence Insight and Premium News subscribers, our curated defence news content provides the latest industry updates, contract awards and programme milestones.
More from Defence Notes
-
![Orchestrating operational readiness across every defence domain]()
Orchestrating operational readiness across every defence domain
Are all systems ready for the next mission? Have upgrades been applied? Are all assets aligned to deploy together, on time and fully prepared? In modern defence operations, readiness is no longer measured platform by platform. It is measured by how well people, assets, data and decisions move together — across land, sea and air.
-
![How deepening AI usage can boost efficiency and maximise effects for forces]()
How deepening AI usage can boost efficiency and maximise effects for forces
Saab has outlined how it is using artificial intelligence to make training more like electronic gaming, while the UK’s Power Size Technologies is applying the same technology to better evaluate and design vehicle capability, moving AI-enabled innovation further upstream from the frontline.
-
![From systems integrator to multi-domain solutions provider (video)]()
From systems integrator to multi-domain solutions provider (video)
Philipp von Brandenstein, Head of Corporate Communications at Rheinmetall, explains how Eurosatory 2026 marked a new stage in the company's evolution.
-
![US Pentagon pushes for major reform of defence acquisition system]()
US Pentagon pushes for major reform of defence acquisition system
The US Department of Defense has requested new contracting authorities from Congress, using the Army's MV-75 Cheyenne programme to demonstrate how competition, digital engineering and closer industry collaboration could accelerate acquisitions.
-
![US speeds up B61-13 nuclear bomb production as programme moves further ahead of schedule]()
US speeds up B61-13 nuclear bomb production as programme moves further ahead of schedule
The US government plans to accelerate production even further after achieving key B61-13 milestones months ahead of schedule, as the programme advances amid growing US-China strategic competition.
