Elbit Systems Ltd. (TASE: ESLT; Nasdaq: ESLT) has been awarded contracts worth a total amount of approximately $335 million (NIS 1.25 billion), to supply defense systems to a European country. The contracts include the supply of PULS (Precise and Universal Launching Systems) rocket launchers and rockets, and Hermes 900 Unmanned Aircraft Systems (UAS) equipped with advanced payloads. The contracts will be performed over a period of three years and six months.
Elbit Systems’ PULS provides a comprehensive and cost-effective solution capable of launching unguided rockets, precision-guided munitions, and missiles with various ranges. The PULS launcher is fully adaptable to existing wheeled and tracked platforms, enabling significant reductions in maintenance and training costs.
As evidenced by the current order and by many previous ones, the Russia-Ukraine war has led to higher defense budgets in Europe, Greece being a case in point. The Greek government is considering replacing its outdated MLRS launchers with PULS or Lockheed Martin’s A2.
The Hermes 900 multi-role MALE UAS is Elbit Systems' largest unmanned aerial vehicle, designed to perform a wide range of missions, including area dominance and persistent intelligence, surveillance, target acquisition and reconnaissance (ISTAR) across land and maritime domains. According to Elbit Systems, the Hermes 900 has been selected by over 20 customers worldwide. The Hermes 900 is widely used by the IDF. Hermes 900 and 450 aircraft are also an important part of Elbit Systems’ collaboration with the Indian defense industry. In December 2018, Elbit Systems and Adani Defence and Aerospace launched a joint venture to produce both models. According to foreign reports, the price of a Hermes 900 aircraft can reach $6.85 million per unit, while the price of a Hermes 450 is $2 million.
Elbit Systems president and CEO Bezhalel (Butzi) Machlis said, "We are proud to support our European customer with advanced and versatile defense solutions that enhance operational effectiveness and adaptability. These contracts reflect the global trust in our innovative systems, such as the PULS and Hermes 900, which are designed to meet a broad range of mission requirements."
Published by Globes, Israel business news - en.globes.co.il - on November 18, 2024.
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