Elbit Systems reports two Asia-Pacific deals worth $768m
Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) has reported two major contracts this week. This morning the company notified the Tel Aviv Stock Exchange that it had signed a $548 million contract to supply combat networked warfare capabilities to an Asia-Pacific country. Yesterday the company reported signing a $220 million to provide an airborne precision munition solution to an Asia-Pacific country.
The contract for networked warfare capabilities will be performed over a four-year period, during which will provide an integrated solution comprising of its networking middleware; a suite of airborne, land and ship-borne command and control applications as well as advanced waveforms and a wide range of E-LynX software defined radio (SDR) systems including airborne, vehicular, handheld, and shipborne configurations. The program will include extensive co-development efforts and transfer of know-how. These comprehensive combat networked capabilities are intended to improve operational effectiveness, decision making and interoperability across all domains of operation, platforms and systems. Elbit is already in combat networked warfare projects in Israel, Switzerland and the UK.
Elbit Systems President & CEO Bezhalel Machlis said, “We witness a growing recognition by Armed Forces of the essentiality of digitization and the capability to conduct interoperable multi-domain operations, especially in light of the lessons learned from recent conflicts. This significant contract award to execute a military-wide networked warfare program further validates the leading position we hold in the growing areas of C4ISR and multi-domain networked warfare.”
Under the airborne precision munition solution contract, Elbit Systems will supply the Lizard precision guidance kit for general purpose airborne warheads. The Lizard is a laser-based precision guidance kit enabling general purpose airborne warheads, of both Western and Eastern versions, to engage targets, including fast moving ones, with high accuracy.
Machlis added, “There is an increase in the demand for our precision fire capabilities as high accuracy has become an operational imperative across all domain of operations. Armed forces around the globe are requiring solutions that enable efficient conversion of ammunition stockpiles into a capability that is relevant in modern warfare, especially in light of lessons learned from recent military conflicts.”
Earlier this week, Elbit also reported a $70 million contract to provide an electronic warfare system to an international customer.
Elbit Systems’ share price rose 3.91% on Nasdaq yesterday to $218.60, giving a market cap of $9.682 billion. The share price rose a further 0.64% in aftermarket trading. The share price is up 3.51% on the TASE this morning.
Published by Globes, Israel business news – en.globes.co.il – on June 30, 2022.
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