IAI earned $ 42 million in the first quarter of 2021

IAI earned $ 42 million in the first quarter of 2021, an increase of 24% compared to the same quarter in 2020, despite a sharp decline in the revenues of two of its divisions. IAI's revenues, managed by Boaz Levy, totaled $ 1.015 billion, down 0.3% from the same quarter in 2020.
The slight decline in the company's revenue is a result of growth in the revenue of the Missile and Space Systems Division and the Elta Division, which was fully offset by a sharp decline in the Aviation Division's revenue, and a more moderate decline in the All Military Pilots Division.
IAI's main growth engine in the last quarter was the Missile and Space Systems Division, whose revenues jumped by 23% compared to the same quarter in 2020 and amounted to $ 421 million, due to growth in the missile and defense and defense systems industry. This division provides various types of air defense for intercepting various types of threats for example, anti-aircraft systems, laser systems. This division provided the Barak 8 system to the Indian Army and the Azerbaijani Army, and also provides the active defense systems to Navy Ship 6. The Israeli.
Elta Division revenue grew 8% in the first quarter of 2021 compared to the same quarter in 2020 and totaled $ 384 million. The increase in Elta's revenues was due to an increase in revenues in the air defense systems industry, for example the radar systems of Iron Dome systems as well as the radar systems of the active defense system of sea-air and surface-to-air missiles Barak 8, which was sold to India and participated in the recent conflict between Azerbaijan To Armenia, and of the arrow missile radar system for intercepting ballistic missiles. Elta also benefited from the growth of the land systems industry, in which the division develops robots and unmanned vehicles for the land army, as part of the attempt to allow entry and combat to targets
Executive planes made by IAI Photography: IAI
State Comptroller: Senior executives in IAI were appointed in improper procedure
"If there is anyone who goes against our interests - he will not be in the Likud"
The Military Aircraft Division, which develops and manufactures UAVs and is characterized by high volatility in accordance with the timing of the recognition of project revenues, experienced a 6% decrease in its revenues in the first quarter of 2021 compared to the corresponding quarter in 2020 to $ 109 million. Passing compared to the same quarter in 2020 to a level of $ 237 million, the decrease is due to the decrease in demand for aircraft maintenance, due to the fall in civil aviation activity.