IAI's Barak 8 wins $340m contract with Indian Navy

BARAK-MX Photo: IAI website

Foreign investment in TASE hits five-year high

The MRSAM systems, produced by Israel Aerospace Industries' Indian partner Bharat Dynamics, will be mounted on most India Navy warships.

Last week, India bought over 70 MRSAM (medium-range surface-to-air missile) systems from Bharat Dynamics, Israel Aerospace Industries’ (IAI) partner in developing the Indian version of the Barak 8 air defense system. The contract is worth 29.6 billion rupees (about $340 million).

The systems will be mounted on most of the Indian Navy’s future warships. The Indian Ministry of Defence said that the contract represented a critical milestone in boosting India’s defensive capabilities. According to reports in India, the contract will create about 350,000 work days, under Prime Minister Narandra Modi’s "Made in India" policy whereby overseas companies are required to operate local production lines.

From the Israeli side, the company managing the MSRAM contract in India is IAI subsidiary Aerospace Services India (ASI), based in New Delhi, which carries out transactions in Indian currency. The MRSAM system provides protection against a range of aerial threats, and is in service with the Indian Navy, Army, and Air Force. It is effective up to a range of 70 kilometers, and is capable of tracking more than 1,000 aerial threats simultaneously. It consists of a phased array radar, a command and control system, mobile launchers, and interceptors equipped with advanced radio frequency sensors.

$139 million order for Elbit America

Meanwhile, Elbit Systems (TASE: ESLT; Nasdaq: ESLT) subsidiary Elbit America has reported a $139 million follow-on order for enhanced night vision goggle-binoculars for the US Army. Production will be at Elbit America’s facility in Roanoke, Virginia, and delivery will be by December 2026. "Our ENVG-Bs provide clarity in low-light and no-light conditions, so soldiers can operate anytime and anywhere their mission dictates." said Erik Fox, vice president of Warfighter Systems at Elbit America.

Elbit America has delivered more than 25,000 advanced night vision binocular systems since 2020, through the US Army’s ENVG-B program and the United States Marine Corps’ Squad Binocular Night Vision Goggle program.

Plasan Sasa teams with South Korea’s Hanwha Aerospace

Specialist armor company Plasan Sasa, from Kibbutz Sasa near the Lebanese border, is expanding its collaboration with South Korean company Hanwha Aerospace. The two companies will cooperate on the development of protection kits for Hanwha’s K9 self-propelled howitzers and K10 ammunition resupply vehicles. According to the Army Recognition website, the guns and vehicles are "likely destined for Romania, although it could also be Estonia or Poland."

In mid-2024, Romania signed a deal with Hanwha worth about $1 billion that included protection kits for 54 K9 howitzers and 36 K10 vehicles. The K9 howitzer fires 155 mm shells, which are standard among Western countries and in the NATO alliance. The weapons are in high demand thanks to their 360 kilometer range.

Published by Globes, Israel business news - en.globes.co.il - on January 26, 2025.