Israel Aerospace Industries secures $1B contract for system supply

Israel Aerospace Industries (IAI) has entered a $1 billion contract to supply one of its systems to an unnamed third party, the state-owned defense contractor said on Tuesday.

IAI, which makes some of Israel’s most advanced drones and missile defense systems, said in a regulatory filing in Tel Aviv that the deal is expected to reach about $1 billion and be carried out over five years.

It “will produce and supply a system to a third party”, IAI said, declining to provide further detail.