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)
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
-
UK releases security strategy and plans for future defence spending boost
The UK’s National Security Strategy brings together the recently released Strategic Defence Review (SDR), Strategic Security Review, AUKUS Review and Industrial and Trade Strategies. At the same time, the UK made a commitment to reach defence spending of 5% of GDP by 2035 and Germany committed to 3.5% by 2029.
-
Pentagon’s FY26 defence budget proposal is $130 billion more than US Congress plans to provide
The House Committee on Appropriations approved a FY2026 bill reducing investments in main defence programmes.
-
What role could holographic and 3D capabilities play in the warfare of tomorrow
Holographic and 3D technologies have been lauded by some for their ability to provide technical and operational advantages for military training and planning. But is the hype truly justified?
-
Unfolding the Golden Dome for America: Seven things you should know about the programme
Shephard talked to multiple experts about the most pressing concerns and considerations regarding the air defence system advocated by President Trump.
-
Industry welcomes UK Strategic Defence Review, but pressure remains on future defence investment plans
While industry reception to the SDR has been positive, questions still remain from analyst and trade associations about what this could mean for future investment and the future UK Defence Industrial Strategy.