Israel's Ministry of Defense today announced today the completion of a series of cumulative deals with Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) for the supply of advanced communication systems to the IDF, totaling about $130 million.
The contracts include the supply of thousands of advanced communication systems from the software-defined radio (SDR) family, satellite communication systems, data-links for autonomous platforms, and the expansion of regional maintenance centers operating 24/7 in support of combat forces. In addition, over the past year, the Ministry of Defense's Directorate of Defense R&D (DDR&D), in collaboration with Elbit Systems and the IDF, has developed innovative solutions for secure and encrypted communication adapted to the evolving needs of IDF units.
This is the latest in a series of major deals between the Ministry of Defense and Elbit. In May, the company reported to the Tel Aviv Stock Exchange that it had received several contracts worth $760 million for the supply of ammunition to the Ministry of Defense, to be delivered over two years. Elbit noted in its announcement that since the start of the war, "Elbit Systems has experienced a substantial increase in demand for its products and solutions from Israel's Ministry of Defense compared with pre-war demand levels.
Six weeks ago, Elbit received an order worth NIS 2 billion from the Ministry of Defense to expand serial production of iron Beam, the first Israeli-developed laser interception system, with Rafael Advanced Defense Systems leading the project. From this total order, which is intended to bring the system to delivery in the second half of 2025, Elbit received a contract worth approximately $200 million from the Ministry of Defense for the supply of the laser. As part of the contract with Elbit, the company will provide the Ministry of Defense with its high-power laser solution, developed in-house for increased protection against a variety of threats. In addition, the contract includes ongoing support services.
Published by Globes, Israel business news - en.globes.co.il - on December 16, 2024
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