Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT), a partner in the development of the system used by the IDF to detect attack tunnels from the Gaza Strip, is designating the system for future export, subject to obtaining the appropriate permits from the Ministry of Defense.
Elbit Systems is convinced that the system's string of successes in recent months, in which it brought about the exposure and destruction of a number of tunnels, is strategically significant, because it is the first effective system of its kind in the world.
The top-secret system is based on sensors that monitor underground events and provide alerts when spaces are detected there. The publication of full particulars about the system, however, is forbidden.
Elbit Systems' partners in developing the system are the Administration for the Development of Weapons and Technological Infrastructure in the Ministry of Defense and other concerns.
In view of the successes on the Gaza Strip border in recent months, Elbit Systems regards the system as a solution that could interest the US in its struggle against drug smuggling on the US-Mexico border. Some of this smuggling utilizes tunnels. It could also be used extensively on the border between North and South Korea, because long and wide tunnels have been dug for years from the north in the direction of its southern neighbor with the aim of sending military forces into them in the event of a future conflict.
On the occasion of today's publication of Elbit Systems' financial statements, Elbit Systems president and CEO Bezhalel Machlis said, "Elbit Systems is a strategic partner in the development of the solution to the underground threat, and this has strategic consequences, both here in Israel and elsewhere in the world."
Machlis also commented on the Iron Fist active defense system developed by Israel Military Industries Ltd. (IMI), which is designed to intercept anti-tank missiles fired at tanks and APCs, in view of the emerging acquisition of IMI by Elbit Systems.
"The concept behind Iron Fist is a work of genius," Machlis said, adding, "It provides a lightweight solution that can also be suitable for wheeled vehicles. The global trend is towards procurement of light armored fighting vehicles (AFVs), and Iron Fist is a unique solution found during the development process. There is always complexity in electronic integration, and this is an area in which Elbit Systems has a great deal of experience and special capabilities."
Published by Globes [online], Israel Business News - www.globes-online.com - on March 20, 2018
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