Israel Aerospace Industries (IAI), a major state-run aerospace and defense company, registered an all-time sales record in 2023, according to a financial report and statement released by the company on Wednesday.
The company’s sales reached 5.327 billion U.S. dollars last year, an increase of 7.12 percent compared to 4.973 billion in 2022.
The IAI also reported a 49 percent year-on-year increase in its net profit to a total of about 318 million U.S. dollars in 2023.
The IAI attributed the positive results to its intensive and wide-ranging activities for Israel’s security establishment and worldwide clients.
The company noted that activity against Israel by political organizations operating in some of the IAI’s target markets, including movements calling for a boycott against Israel, may make it difficult to enter into new deals and negatively affect the company’s future results.
It added that establishing foreign relations with new countries, as has been the case in recent years, may open up new markets for the company. Still, Israel’s position is affected by the conflict in general and the proceedings at the International Court of Justice in The Hague.
The IAI mentioned that several European countries halted supplies of components for Israel’s defense industry and that it cannot assess the effects the trend will have on its operations.
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