Photo: Rafael Advanced Defense Systems
Rafael Advanced Defense Systems Ltd. has reported record financial results for 2024, with a 27% increase in sales, reaching $4.8 billion. The company recorded $8.23 billion in new orders and a net profit of $257 million, a 64% rise from...
To read the full article, please log in or enter your email below:
Rafael Advanced Defense Systems Ltd. has reported record financial results for 2024, with a 27% increase in sales, reaching $4.8 billion. The company recorded $8.23 billion in new orders and a net profit of $257 million, a 64% rise from the previous year. Rafael’s order backlog grew by 24% to $17.76 billion, representing 3.6 years of sales, with nearly half derived from export contracts.
The final quarter of 2024 was the company’s strongest, generating $1.48 billion in sales, compared to $1.2 billion in the same period of 2023. Orders received in the quarter totalled approximately $3 billion.
Rafael Chairman Dr. Yuval Steinitz highlighted the company's role in Israel’s security and economy, noting the impact of its defence systems during conflicts in 2024. “Rafael’s advanced systems—such as Iron Dome, David’s Sling, and Trophy—saved thousands of lives, enabled operational continuity under fire, and provided critical breathing room to manoeuvring forces,” he said. He also emphasised Rafael’s ongoing work on a laser-based air defence system and its contributions to economic recovery in northern Israel.
CEO and President Yoav Tourgeman described 2024 as a significant year for Rafael amid heightened operational demands. “Global demand surged, meeting Rafael’s operational excellence with a record order backlog,” he stated. He credited the company’s employees for their efforts and noted the recruitment of around 1,800 new staff, as well as increased investment in research and development. Rafael also expanded its presence with a new development site in Hadera, complementing its existing R&D centres across Israel.
Among its key developments, Rafael signed an agreement with the Israeli Ministry of Defence to advance the Iron Beam laser interception system. The company also reinforced its global presence, including inaugurating a production facility in the US for Tamir interceptor manufacturing in partnership with Raytheon.
Operationally, Rafael's defence systems were deployed in response to Iranian missile and UAV attacks in April and October 2024. In April, the Israeli Navy successfully used the C-Dome naval defence system for the first time to intercept threats in the Gulf of Eilat. Additionally, the Trophy active protection system was integrated onto Germany’s Leopard tank, marking its use on 16 platforms worldwide.
Rafael continued its corporate social responsibility efforts, retaining a "Platinum Plus" rating from Maala in the high-tech and defence sector. It allocated approximately 8% of its annual revenue to research and development and was awarded two Israel Defence Prizes in 2024 for its David’s Sling system and an undisclosed innovation.
With a workforce of around 10,000 direct employees and indirect support for 20,000 households through subcontractors, Rafael remains a significant employer in northern Israel. The company’s annual procurement reached approximately $1.08 billion, primarily benefiting suppliers in the region. Since becoming a government-owned business corporation, Rafael has paid over $680 million in dividends to the State of Israel.
Seoul ADEX 2025 will take place at Korea International Exhibition Center (KINTEX) from Oct. 20 to 24, 2025. The venue…
The Turkish Ministry of National Defense has confirmed the successful completion of inspection and acceptance procedures for the Sub-Cloud Unmanned…
The Bali International Airshow will return on 8–11 September 2027, following the success of its inaugural edition in 2024. Organisers…
Air Astana has marked two decades of operations in the Indian market by launching a new route connecting Almaty and…
Sikorsky, a Lockheed Martin company, and Bristow Group Inc. have entered into a long-term agreement aimed at providing enhanced aftermarket…
United is investing in blended wing body (BWB) aircraft start-up JetZero that is creating an aircraft design that has the…
MRO company AAR is celebrating the Company’s 70th anniversary, citing its 'Doing It Right' maxim, strategic evolution of services, and…
Indonesian carrier PT TransNusa Aviation Mandiri has increased the frequency of its Jakarta–Singapore route to twice daily, effective today, as…
The Emirates Group is inviting Singapore-based IT professionals to attend an exclusive, invite-only information session on Saturday, 26 April 2025,…
Embraer signed its affiliation with the Mexican Federation of Aerospace Industry (FEMIA) during FAMEX. The affiliation aims to strengthen the…
Saudia Group has confirmed an order for 10 Airbus A330-900 aircraft for its low-cost subsidiary, flyadeal. The deal, announced during…
BOC Aviation has signed a lease agreement with Thai Airways International for five Airbus A321neo aircraft. The aircraft, sourced from…
Korean Air has been selected as the preferred bidder for a major performance upgrade programme involving the Republic of Korea’s…
The Israeli ministry of defence is evaluating initial proposals from domestic companies to decide what types of loitering weapon systems…
Boeing has entered into a definitive agreement to sell portions of its Digital Aviation Solutions division to Thoma Bravo, a…
Embraer has introduced the dentCHECK inspection tool, developed by 8tree, into its aircraft maintenance operations in Nashville, Tennessee. The move…
Monada.ai, a platform focused on automating freight sales, has partnered with CargoAi to integrate the Quote & Book API from…
India has dispatched the second battery of its BrahMos supersonic cruise missile system to the Philippines, marking continued progress in…
All Nippon Airways (ANA) and Singapore Airlines (SIA) will begin operating revenue-sharing flights between Japan and Singapore from September 2025,…
Fokker Services Group (FSG) - a leader in aircraft maintenance, modifications, completions, and conversions- has been selected by Embraer for…
Dubai Airports received the Operational Excellence Award from AirportLabs at Passenger Terminal Expo 2025, in recognition of its decade-long innovation…
Discussions between Japan and Indonesia on the potential joint development and production of advanced frigates for the Indonesian Navy are…
The European Space Agency's (ESA) Atomic Clock Ensemble in Space (ACES) has been successfully launched to the International Space Station…
Israel Aerospace Industries (IAI) has partnered with DCX Systems Limited to establish a new joint venture - ELTX - aimed…
General Atomics Aeronautical Systems, Inc. (GA-ASI) has announced its decision to invest in two Dutch companies—Emergent Swarm Solutions and Saluqi…
Dynamatic Technologies and Deutsche Aircraft have inaugurated the rear fuselage assembly line for the D328eco turboprop aircraft at Dynamatic's aerospace…
FN has introduced a new brand identity as part of its ongoing development in the defence and security sector. This…
Huawei introduced five innovative aviation solutions at Madrid's Passenger Terminal Expo 2025, designed to drive intelligent upgrades within the industry,…
Azorra has delivered the first of two new Embraer E195-E2 aircraft to Hunnu Air, marking both the start of a…
French surveillance and security solutions provider ATERMES is returning to IQDEX 2025, held from 19 to 22 April at the…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2025 GBP all rights reserved.