The UAE is the mystery customer in Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) huge new $2.3 billion deal signed last month, the "Intelligence Online" website reports. Similar to a previous deal Elbit signed in August with Serbia, worth $1.63 billion, the company chose to remain vague about the content of the agreement and the purchasing country, and in this case even refrained from specifying on which continent it is located.
In its original announcement, Elbit said that the deal would be carried out over eight years, but did not specify which systems were involved.
From drones to intelligence capabilities
The same agreement with Serbia, which is expected to be delivered over five years, includes the supply of long-range precision artillery rocket systems, and a wide range of unmanned aerial combat systems for surveillance and combat including individual drones.
Elbit will also provide Serbia with advanced intelligence (ISTAR) capabilities, including COMINT, SIGINT and electronic warfare systems. The agreement includes the supply of intelligence collection and processing systems, advanced electro-optical (E/O) systems, night vision, and upgrades to combat vehicles and defense systems.
The latest (UAE) deal is considered to be of historic scope, and joins a series of huge deals signed by Israeli defense companies in recent years. At the top of the list is the sale of the Arrow 3 system by Israel Aerospace Industries to Germany in 2023, for $3.5 billion. In addition, at the end of June, Rafael won a tender from the Romanian Ministry of Defense for the purchase of a short-range and extremely short-range air defense system (V/SHORAD), in a deal worth an estimated $2.2 billion.
Prior to the Arrow 3 sale to Germany, IAI’s record deal was the sale of Barak 8 systems (MRSAM) to India in April 2017, for $1.6 billion. About a month later, the naval version of the Barak 8 missiles was sold to India in another deal, for approximately $630 million.
Elbit has so far declined to respond.
Published by Globes, Israel business news - en.globes.co.il - on December 17, 2025.
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