Calepin des entreprises international 2026 VA.pdf — page 100

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ISRAEL AEROSPACE INDUSTRIES (IAI)
Business trends
	
 IAI revenues reached $6,112 million (€5,649 million) in 2024, up 14.7% year-on-year in US dollars. Growth was 
driven by military activites, which grew by 15.5% year-on-year (in US dollars) and accounted for 85% of sales. 
During the year, the group delivered BARAK MX air defence and missile defence systems to Morocco and 
Cyprus. It also continued integration of the BARAK MX system on the Israeli Navy’s Sa’ar 6 corvettes, as well 
as development work on the future Arrow 4 missile defence system in partnership with the Missile Defence 
Agency in the United States.
	
 In December 2024, IAI’s CEO confirmed that the group was ready to float up to 49% of its capital on the stock 
market, exclusively for domestic investors, and that it was awaiting authorisation from the Israeli government 
for this operation.
	
 In April 2025, IAI and India’s DCX Systems agreed to create a joint venture, called ELTX, which will be 
responsible for technology transfers in airborne radars and ground systems for the benefit of the Indian 
defence industry as part of the Atmanirbhar Bharat and Make in India initiatives.
	
 In May 2025, IAI signed a letter of intent with Hellenic Aerospace Industry to offer its large autonomous 
underwater vehicle BlueWhale to the Hellenic Navy.
Home market
	
 IAI generated 34% of its turnover in its domestic market in 2024. The group is a key partner of the Israel Defense 
Forces and the second-largest national defence group, behind Elbit Systems and ahead of Rafael.
	
 The Ministry of Defense of Israel ordered Arrow 3 missile defence system interceptor missiles from IAI in 
December 2024 and July 2025.  
	
 In the summer of 2025, two satellites produced by IAI were placed into orbit on behalf of the Israel Defense 
Forces: the Dror-1 telecommunications satellite (by SpaceX’s Falcon 9 Block 5 launcher) in July and the Ofek-19 
reconnaissance satellite (by the group’s Shavit-2 micro-launcher) in September.
Export markets
	
 In December 2024, the European Border and Coast Guard Agency (Frontex) awarded a four-year contract to 
Airbus and IAI to continue their surveillance missions over the Mediterranean Sea using the group’s Maritime 
Heron MALE UAS.
	
 IAI signed a €560 million contract in December 2024 with Slovakia to supply its BARAK MX air and missile 
defence system.
	
 In December 2024, the group signed a $7.2 million (€6.7 million) contract with the Colombian Aerospace Force 
for the maintenance of its Kfir C.10/12 fighter aircraft, 11 of which are in service, until July 2026.
	
 In February 2025, the Bundeswehr began construction work on the infrastructure for IAI’s Arrow 3 missile 
defence system at the Holzdorf air base (south of Berlin). This work is expected to be completed in 2028. 
Two other sites in Germany, which have not yet been specified, will also host the Arrow 3 system.
	
 In March 2025, the U.S. Department of Defense awarded a contract to the ELTA North America subsidiary for 
the supply of its M3S2 (Multi-Mission/Multi-Sensor Suite) protection suite for land vehicles for testing purposes. 
This suite includes an AESA radar for detecting ground and air threats (including small drones), EO/IR sensors 
for identifying and tracking threats, and an acoustic fire detection system.
Technology and Innovation
	
 Self-financed R&D expenditure amounted to $333 million (€308 million) in 2024, representing 5.4% of revenues.
STRATEGIC HIGHLIGHTS