Israel Aerospace Industries’ annual financial statement, published last week, highlighted two large deals it signed with the German government in 2023 and late 2025, under which the company will sell Arrow anti-ballistic missile systems for a total of $6.7 billion. A third of the company’s revenue in 2025 – $2.6 billion – came from sales of missile and other offensive and defensive weapons systems. Most came from the deal with Germany.