Elbit Systems (TASE: ESLT; Nasdaq: ESLT) has announced a $300 million contract to supply weapon, reconnaissance, driving, and situational awareness systems for approximately 230 armored vehicles, to a European customer. The contract will be performed over a period of six years and includes custom design, production, lifecycle maintenance and complete in-country support.
Elbit Systems has kept the identity of the customer confidential, but from the remarks of the company’s president and CEO Bezhalel Machlis, it is clear that it is one of the many European countries to which it has supplied systems in the past.
"This contract underscores the customer's high level of satisfaction for our systems and solutions already in service," Machlis said. "It also reinforces Elbit Systems' leadership in the armored vehicle market, underpinned by our commitment to delivering cutting-edge solutions that meet the requirements of our customers."
With the war between Russia and Ukraine entering its third year, European countries are spending their enlarged defense budgets, and Israeli companies such as Elbit Systems are taking a fair share, particularly in NATO countries.
The announcement of the current deal comes as Elbit Systems prepares to unveil its newest UAV at the Singapore Airshow, an important biennial event in the aerospace and aviation industries.
Published by Globes, Israel business news - en.globes.co.il - on February 20, 2024.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.