Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) has received a $350 million Special Mission Aircraft related contract for intyelligence operations from a major European country. The contract will be executed by IAI’s ELTA Systems, which has major expertise and experience in the Special Mission Aircraft sector.
IAI has already delivered Special Mission Aircraft to the Israel Defence Forces (IDF) and numerous countries worldwide. The aircraft are considered to be strategic assets.
IAI is one of few companies that has these technology capabilities in-house. The company has achieved a major breakthrough in Special Mission Aircraft thanks to advanced sensor miniaturization technology coupled with Artificial Intelligence (AI) and Machine Learning software applications, allowing high performance business jets to be used as Special Mission Aircraft. Previously, most of the Special Mission Aircraft in the world were based on converted cargo or passenger planes.
IAI ELTA VP and GM Airborne Systems Gideon Landa said, "As part of IAI’s strategy, we are bolstering our presence in Europe for leveraging our business and extending cooperation. IAI’s Special Mission Aircraft offer advanced and unique technological capabilities to meet a broad range of most demanding intelligence missions. Europe represents a strategic business region for IAI, and we will continue to broaden our products and services to bring our unique technologies to the benefit of our customer’s evolving operational requirements."
IAI's Special Mission Aircraft can be tailored for airborne early warning and control, air to ground surveillance, maritime control, and signal intelligence.
Published by Globes, Israel business news - en.globes.co.il - on June 8, 2020
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