Israeli state-owned defense company Aviation Industries (IAI) has released its 2023 financial report, revealing a 7% increase in sales to $5.3 billion and a significant 49% rise in profits to $318 million.
The company's order portfolio surged by 19% compared to 2022, reaching $18 billion. Notably, the Israeli market share of the order book expanded from 27% to 29% in 2023, boosted by the war in Gaza.
However, the report highlights potential risks stemming from global anti-Israel sentiments due to the war:
"The corporation's status as a state-owned entity could be impacted by the international political climate surrounding Israel, especially considering the proceedings before the International Court of Justice in The Hague."
The group further notes that certain European countries have halted the supply of defense parts to Israel, while some foreign insurance firms have scaled back or terminated certain insurance coverage. These developments may result in extended delivery times and increased prices.
