Israel Aerospace Industries Soars 55% Profit Increase and $6.1B Revenue During Wartime
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Editor - . March 13, 2025
- . Update: March 13, 2025 6:33 pm
State-run Israel Aerospace Industries (IAI) reported a record breaking year in 2024 that earned them a net $493 million, up 55% from $318 million in 2023 making it one of Israel’s largest defense contractors. Revenue also soared by 15.5% reaching $6.1 billion.
Sales gains were driven by strong demand in both the domestic and international markets. Notably, exports increased from $3.8 billion to $4.3 billion even as their share of overall sales decreased from 71% in 2023 to 66% in 2024. Following a series of conflicts and vast challenges, the IAI performance increased phenomenally in the market of Israel. Local sales increased from $1.5 billion to $2.1 billion which also saw the share of the local market in overall sales grow from 29% to 34%.
The backlog of orders of the company grew enormously to $25 billion due to sustained demand and use of its capacity over four years. IAI president and CEO Boaz Levy has said that a surge in contracts points to a vote of confidence in Israel’s technological prowess. “2024 was entirely managed alongside unprecedented fighting in Israel, yet we met enhanced supply quotas and satisfied our customers,” he said. While its major rival Elbit Systems is set to announce its Q2 earnings the week after, IAI’s record results are proof of its strategic strength in difficult times.
