Prakash Nanda
What is more noteworthy is that Israeli defense industries like Rafael Advanced Defense Systems Ltd., Israel Aerospace Industries (IAI), and Elbit are not only producing a formidable list of advanced weapon systems for the Israel Defense Forces (IDF) but also finding increasing demand for their products in the international arms bazaars.
For instance, a just-released news report says that Rafael has attained robust financial results for the second quarter of 2024. The company achieved sales of NIS 3.9 billion ($1.1 billion), marking a 25% increase compared to the same period last year.
New orders in the second quarter reached NIS 6.4 billion ($1.7 billion), a 65% jump from the same quarter in 2023. For the first half of 2024, Rafael secured orders totaling NIS 14.2 billion ($3.8 billion), representing a 34% increase compared to the first half of 2023.
Rafael’s net profit for the first half of 2024 stood at NIS 364 million ($98 million), up from 110 million in the second half of 2023. In the second quarter alone, net profit reached NIS 132 million, compared to 61 million in the same period last year.
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