IAI reports most profitable period in company history
IAI was selected as the prime contractor for the Carmel program, the future armoured fighting vehicle for the IDF. (Image: Israel Aerospace industries)
IAI reports consistent growth in Q3, some of which is attributed to major awards such as the Carmel project.
Israel Aerospace Industries have reported profitability and growth for the 12th consecutive quarter in the Q321 financial report.
This quarter has marked the most profitable period in company history with 17% growth in net income throughout the past three fiscal quarters.
2021 has seen an increase in sales by approximately $3 billion, with over $1 billion occurring in the third quarter.
This growth has been attributed to increased sales in the Systems Missiles & Space Group and the Military Aircraft Group while being partly offset by reduced sales in the ELTA Group.
There has been a growth of 17% in operating income throughout the period and 44% in Q3 to approximately $52 million.
This growth has been aided by a number of major awards.
IAI was selected by the Israeli MoD to develop and manufacture the Carmel project for the IDF.
The Estonian Defence Forces selected IAI to provide advanced anti-ship missile systems, while the Bundeswehr contracted the company to provide radars.
IAI also signed a cooperation agreement with SixAI to convert defence technology for the civilian market.
Moreover, IAI has seen expansion into the Asia-Pacific region, with multiple contracts awarded by the Republic of Korea.
More from Defence Notes
-
![Why small guns have been critical to layered CUAS architectures]()
Why small guns have been critical to layered CUAS architectures
Multiple countries have been deploying small arms as the last line of drone defence due to their multiple operational and tactical advantages.
-
![Singapore Airshow 2026: ST Engineering hints at export success for AME assault rifle family]()
Singapore Airshow 2026: ST Engineering hints at export success for AME assault rifle family
The Singapore-based technology company unveiled its new rifle family at this week’s airshow. Chen Chuanren spoke with the ST Engineering’s head of small arms to find out more about how the weapons have been refined.
-
![High tension in the High North – a wake-up call for NATO’s future Arctic defence efforts?]()
High tension in the High North – a wake-up call for NATO’s future Arctic defence efforts?
Any potential ‘Arctic Sentry’ mission would be months in the planning, but with tensions high in the region given the US’s push for Greenland, NATO countries will need to continue to emphasise their commitment to the region, analysts have said.
-
![Venezuela prepares personnel and equipment for a potential second US attack]()
Venezuela prepares personnel and equipment for a potential second US attack
Defence Minister Gen Vladimir Padrino López has declared that the Venezuelan armed forces “will continue to employ all its available capabilities for military defence”.
-
![As the new year starts, the UK defence spending delay continues]()
As the new year starts, the UK defence spending delay continues
The UK’s defence spending commitments remain uncertain as the government’s Defence Investment Plan, which had been due by the end of 2025, is yet to be published.
