Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) announced this morning that it has entered into an agreement to provide the Indian Navy and MDL Shipyard with complementary Naval MRSAM (Medium Range Surface-to-Air Missile) systems worth $50 million. Under the contract, IAI will provide complementary systems for the air defense system (ADS). The deal is a follow up order for a range of maintenance and other services for various sub-systems of IAI’s advanced MSRAM ADS.
IAI EVP and general manager Systems, Missiles & Space Group Boaz Levi said, “IAI's partnership and strong relationship with the Indian Navy is reflected in all activities with our partners in India. Only recently we have successfully completed a multi-system trial in India that demonstrated the advanced technological centralized management capabilities of the air defense system to the utmost satisfaction of our Indian partners. This contract is a breakthrough as it advances us from system development and delivery to looking after the operational needs of our customers.”
The MRSAM family is an operational air-defense system used by Israel's navy as well as by India’s naval, air and ground forces. It has been uniquely developed by IAI in collaboration with Israel's Ministry of defense, India’s Defense Research and Development Organization (DRDO), IAI’s ELTA group, Rafael Advanced Defense Systems Ltd. and additional companies in India and Israel.
To date, more than $6 billion worth of MRSAM systems have been sold worldwide. MRSAM provides broad as well as topical defense against a range of assault air, marine and ground threats and comprises several key state-of-the-art systems, including a digital radar, command and control, launchers, and interceptors with advanced homing seekers.
Published by Globes, Israel business news - en.globes.co.il - on July 17, 2019
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