An increase in domestic orders, along with a rise in export deals, helped Israel Aerospace Industries (IAI) to secure record business last year, with its net sales performance of over $6.1 billion marking a rise from just above $5.3 billion a year earlier.
Detailing its full-year results for 2024 – which it describes as “the highest grossing year in the company’s history” – IAI on 12 March said its order backlog had risen to around $25 billion; up from roughly $18 billion at the end of 2023.
In terms of divisional split, IAI’s Military Groups accounted for almost $5.2 billion of the sales total before adjustments, while its Aviation Group posted a figure of around $1.47 billion. Those figures represent respective year on year increases of 15% and 6%, the company notes.
“2024 was entirely managed alongside unprecedented fighting in Israel, and IAI faced numerous global challenges that affected its performance,” says chief executive Boaz Levy.
Domestic sales rose in value to $2 billion, from about $1.5 billion in 2023, while exports also climbed to just over $4 billion, from almost $3.8 billion. The company’s gross profit of $1.1 billion, meanwhile, was up from $967 million in 2023.
In addition to the Israeli military’s use of IAI-supplied weapons and equipment during its war against Hamas militants in Gaza, the nation also employed its Arrow 2 and Arrow 3 anti-ballistic missile defence systems during a major missile and drone attack launched by Iran last April.
“The security of the State of Israel, its people and its economy are instrumental to our endeavours, and we will continue to lead the development of highly advanced technological solutions needed for the future battlefield,” Levy says.
