Elbit Systems Awarded Contract Worth Approximately $100 Million to Supply Intelligence and EW Aircraft to an International Customer

Elbit Systems (NASDAQ: ESLT) has secured a follow-on contract valued at approximately $100 million to upgrade commercial aircraft into Intelligence and Electronic Warfare (EW) platforms for an international customer.

Rhea-AI Summary

Elbit Systems (NASDAQ: ESLT) has secured a follow-on contract valued at approximately $100 million to upgrade commercial aircraft into Intelligence and Electronic Warfare (EW) platforms for an international customer. This contract, extending over three years, includes equipping the aircraft with advanced Intelligence Mission Suite and EW capabilities.

The enhancements will provide comprehensive operational awareness through SIGINT and Electro-Optics VISINT sensors and systems, in addition to Electronic Counter Measures to address various threats. Elbit's General Manager, Oren Sabag, emphasized the contract showcases their robust ISTAR and EW capabilities, tailored to meet evolving defense needs.

Positive

• Secured a contract worth approximately $100 million for electronic warfare aircraft upgrades.
• Contract duration of three years indicates long-term revenue potential.
• Enhancements will bolster operational capabilities, aligning with current defense needs.

Negative

• None.

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HAIFA, Israel, April 18, 2023 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it was awarded a follow-on contract worth approximately $100 million to convert commercial aircraft into Intelligence and Electronic Warfare (EW) aircraft for an international customer. The contract will be performed over a period of three years.

As part of the contract, Elbit Systems will equip the aircraft with advanced Intelligence Mission Suite and EW capabilities. This solution will provide a comprehensive operational picture of the arena generated by SIGINT and Electro-Optics VISINT sensors and systems as well as the capability to activate Electronic Counter Measures against a range of threats. The aircraft will also be equipped with Immune Satellite Navigation Systems (ISNS) and an advanced self-protection solution.

Using electronic warfare systems, targeted electronic attacks can be launched to disrupt and block a wide variety of Communication and Radar threats, and enable the aircraft SIGINT operator's full spectrum control.

Oren Sabag, General Manager of Elbit Systems ISTAR & EW: "This contract highlights our market-leading broad portfolio of ISTAR and EW capabilities and our ability to provide integrated solutions adapted to the customers' needs. This airborne ISR and EW solution is relevant for today's defense needs, and designed to be 'future ready' and adaptable to the fast-evolving operational requirements of our customers."

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com, follow us on Twitter or visit our official Facebook, YouTube and LinkedIn Channels

Company Contact: 

Dr. Yaacov (Kobi) Kagan, ExecutiveVP - CFO
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com

Rami Myerson, Director, Investor Relations 
Tel: +972-77-2948984 
rami.myerson@elbitsystems.com

Dalia Bodinger, VP, Communication & Brand 
Tel: 972-77-2947602 
dalia.bodinger@elbitsystems.com

IR Contact:

Ehud Helft 
Kenny Green 
EK Global Investor Relations  
Tel: 1-212-378-8040 
elbitsystems@ekgir.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

Logo: https://mma.prnewswire.com/media/2017806/Elbit_Systems_Logo.jpg

 

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SOURCE Elbit Systems Ltd.

FAQ

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What contract did Elbit Systems secure on April 18, 2023?

Elbit Systems secured a $100 million contract to convert commercial aircraft into Intelligence and Electronic Warfare aircraft for an international customer.

How long will the contract for Elbit Systems last?

The contract will be performed over a period of three years.

What capabilities will Elbit Systems provide under this contract?

Elbit Systems will equip the aircraft with advanced Intelligence Mission Suite and Electronic Warfare capabilities.

What is the significance of the contract for Elbit Systems?

The contract highlights Elbit Systems' leading position in ISTAR and EW capabilities and provides significant revenue potential.

What is the stock symbol for Elbit Systems?

The stock symbol for Elbit Systems is ESLT.