The largest government-owned defence and aerospace company in Israel, which develops and produces military and commercial aerospace and defence systems worldwide. Founded in 1953 as Bedek Aviation Company and headquartered in Lod, Israel, it provides, in part, space systems, including communication and observation satellites, launchers, ground stations and systems, and subsystems and components. The company (then known as Israel Aircraft Industries Ltd.) entered the space race in 1988 with the launch of its Ofeq and subsequent Amos-series satellites and Shavit space launcher. The company changed its name to Israel Aerospace Industries in 2006 to better reflect its activities and direction.