Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) subsidiary ELTA Systems Ltd. has won contracts to supply the Flight Guard anti-missile self-defense system to commercial aircraft in Israel. It is believed that the customer is El Al Israel Airlines Ltd. (TASE:ELAL) or Israir Airlines and Tourism Ltd. The Flight Guard systems will be delivered within a year, and Elta reports that additional orders are expected in the coming months.
The volume of orders for Flight Guard to various customers in Israel and overseas is believed to be $40-50 million with each system costing $250,000.
Elta says that Flight Guard, which was tested and approved by the Israel Airports Authority in 2005, is the only such system approved in Israel. The company reports that it has sold more than 200 systems for military and commercial aircraft and UAVs in 15 countries. The systems are also used by IDF helicopters during combat missions.
Flight Guard includes Missile Approach Warning Systems, which rapidly scan the surrounding terrain, and protect against missiles threats.
Published by Globes [online], Israel business news - www.globes-online.com - on September 16, 2009
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