Israel Aerospace Industries (IAI) CEO Boaz Levy is the new candidate to become the company’s chairman. Levy is the consensus candidate of Minister of Defense Israel Katz and Minister in Charge of Government Companies David Amsalem, after Silvan Shalom's proposed appointment to the position, met with opposition after widespread public criticism following allegations of sexual assault and he withdrew his candidacy.
Levy has led IAI in recent years, and even more so since the start of the war with the company not having a chairman. Levy told "Globes" last month after publication of IAI’s 2025 financial results, "We estimate that there will soon be an IPO, which will only enhance our ability to invest in R&D, in the acquisition of companies, and in the establishment of infrastructure and production."
On international competition he added, "IAI is in a different technological and business situation than other countries, because we have already developed a large part of the solutions for the future battlefield. Therefore, we are already coming up with the solutions and the investment required is a business investment."
IAI reported $7.3 billion revenue in 2025, up 21% from 2024, as well as a 45% jump in its net profit - according to the government-owned company's financial statements for 2025. IAI’s order backlog at the end of 2025 had grown to $29 billion, which translates to about four years of activity. This compares with an order backlog of $25 billion a year earlier. About a third of the company's orders are for the Israeli market and two-thirds for the international market, according to the data.
An outstanding professional background
Levy is an expert in complex systems in the field of missiles and space and between 2013 and 2020 served as IAI VP, Director of the Missile and Space Systems Division. He joined the company in 1989. In November 2020, the board of directors approved his appointment as CEO. He is a co-winner of several Israel Defense Awards, the most recent of which was in 2024.
The ministers have been squabbling over the identity of the company's next chairman since Amir Peretz stepped down in November 2024. Prior to Silvan Shalom, Amsalem tried to appoint former Liku minister Gilad Erdan to the position, despite opposition Katz, who wanted Gabi Seroussi appointed. The struggle between the two lasted about a year until Erdan finally announced the withdrawal of his candidacy "To stop the damage caused by the Minister of Defense," he said at the time.
Now, a candidate with an outstanding professional background is finally being offered the position. If the appointment does go ahead, Levy will head the search committee for the CEO to replace him, with market estimates suggesting it will be one of the deputy CEOs serving under him.
"Reuters" recently reported that Israel plans to begin privatizing two of its largest defense companies, IAI and Rafael, as early as the current quarter of this year. These plans were attributed to Government Companies Authority head Roi Kahlon. IAI’s company valuation is estimated at $20 billion, and any flotation would involve about 25%-30% of the shares. Proceeds from the IPO will be used to strengthen the IDF as part of a plan announced by Prime Minister Benjamin Netanyahu for an additional NIS 350 billion over a decade for the defense forces.
Published by Globes, Israel business news - en.globes.co.il - on April 6, 2026.
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