Elbit Systems wins $350M tank upgrade contract
Elbit Systems Ltd. reports that it has been awarded a contract valued at approximately $350 million from an international customer to upgrade Main Battle Tanks.
Rhea-AI Filing Summary
Elbit Systems Ltd. reports that it has been awarded a contract valued at approximately $350 million from an international customer to upgrade Main Battle Tanks. The four-year program covers advanced fire control, electric gun and turret drive systems, communications, situational awareness and a mid‑life upgrade package.
The company will modernize key onboard systems, including lightweight, high‑performance electro‑optical sights with AI capabilities for day and night observation and advanced target detection and tracking. The deal also includes spare parts, maintenance and technical support to sustain long‑term availability and a secure, high‑capacity voice communication suite.
Elbit Systems describes itself as a leading global defense technology company, with revenues of $2,188.8 million for the three months ended March 31, 2026 and an order backlog of $30.2 billion as of that date. Management emphasizes its role in global tank modernization programs, integrating next‑generation fire control, electro‑optical and communication systems.
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Insights
Elbit secures a sizable multi‑year tank upgrade contract that adds to an already large backlog.
Elbit Systems has been awarded a roughly $350 million contract to upgrade Main Battle Tanks over four years. The scope spans fire control, electric gun and turret drives, electro‑optical sights with AI capabilities, communications, and a broader mid‑life upgrade package, plus spares and support.
This award sits alongside quarterly revenues of $2,188.8 million and an order backlog of $30.2 billion as of March 31, 2026, indicating a well‑filled pipeline. The contract reinforces Elbit’s positioning in armored vehicle modernization rather than transforming its overall scale.
Future performance will depend on execution over the four‑year term and on broader factors the company lists, such as government budgets, regulations, and geopolitical conditions. Subsequent company reports may show how much of this contract converts into recognized revenue each year.
Key Figures
Tank upgrade contract value: $350 million
Contract duration: 4 years
Quarterly revenues: $2,188.8 million
+2 more
5 metrics
Tank upgrade contract value
$350 million
Contract from an international customer for MBT upgrades
Contract duration
4 years
Performance period for the tank upgrade program
Quarterly revenues
$2,188.8 million
Revenues for the three months ended March 31, 2026
Order backlog
$30.2 billion
Order backlog as of March 31, 2026
Employees
over 20,000
Headcount across dozens of countries on five continents
Key Terms
Main Battle Tanks (MBTs), Fire Control Systems, electro‑optical sights, order backlog, +2 more
6 terms
Main Battle Tanks (MBTs) technical
"to deliver upgrades for Main Battle Tanks (MBTs)."
Fire Control Systems technical
"integration of advanced Fire Control Systems, Electric Gun & Turret Drive Systems"
Fire control systems are the integrated sensors, computers and control interfaces that detect and track targets and guide weapons so they hit moving objects—think of them as the eyes and brain that aim and time a weapon’s shot. They matter to investors because sales are driven by long-term defense contracts, technology upgrades and geopolitical demand, which affect a supplier’s revenue predictability, profit potential and regulatory risks.
electro‑optical sights technical
"featuring lightweight, high‑performance electro‑optical sights with Artificial Intelligence (AI) capabilities"
order backlog financial
"and an order backlog of $30.2 billion as of such date."
Order backlog is the total value or number of customer orders a company has received but not yet fulfilled or delivered. It acts like a queue at a busy restaurant: a healthy backlog signals steady future sales and revenue visibility, while a growing backlog can also warn of production bottlenecks, delayed cash collection, or rising costs — all important when assessing a company’s near-term performance and operational risks.
forward‑looking statements regulatory
"This press release may contain forward‑looking statements"
Forward-looking statements are predictions, plans, projections or expectations about a company’s future results, strategy, or events that appear in press releases and regulatory filings. They matter to investors because they are not guarantees and often rely on assumptions that may prove wrong; think of them like a weather forecast useful for planning but uncertain, so investors should weigh those statements against hard facts, past performance and disclosed risks.
Private Securities Litigation Reform Act of 1995 regulatory
"pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995"
FAQ
What contract did Elbit Systems (ESLT) announce in its May 2026 Form 6-K?
Elbit Systems announced a new contract worth approximately $350 million from an international customer to upgrade Main Battle Tanks. The program covers fire control, electric gun and turret drives, communications, situational awareness and a mid‑life upgrade package over a four‑year period.
How long will Elbit Systems (ESLT) take to complete the new tank upgrade contract?
Elbit Systems expects to perform the $350 million tank upgrade contract over four years. During this period, it will modernize multiple onboard systems, supply spare parts, and provide maintenance and technical support to maintain long‑term operational availability for the customer’s Main Battle Tanks.
What technologies are included in Elbit Systems’ new Main Battle Tank upgrade program?
The upgrade program includes advanced Fire Control Systems, Electric Gun and Turret Drive Systems, communication and situational awareness solutions. It also adds lightweight, high‑performance electro‑optical sights with AI capabilities for day and night observation, advanced target detection and tracking, plus a secure voice communication suite.
What recent financial figures did Elbit Systems (ESLT) highlight in this disclosure?
Elbit Systems reported $2,188.8 million in revenues for the three months ended March 31, 2026. It also reported an order backlog of $30.2 billion as of that date, illustrating a substantial pipeline of contracted business alongside the newly announced tank upgrade award.
How does Elbit Systems (ESLT) describe its position in the tank modernization market?
Elbit Systems’ CEO states the company is a global leader in tank modernization programs. By combining strengths across its divisions, it offers integrated solutions that include latest‑generation fire control, electro‑optical and communication systems, aiming to improve effectiveness, connectivity and survivability of Main Battle Tanks.
What risks and uncertainties does Elbit Systems (ESLT) associate with its forward-looking statements?
Elbit Systems notes that forward‑looking statements involve risks and uncertainties linked to contract scope and length, regulations, government budgets, market and political conditions, program performance, competition and legal or regulatory proceedings. These factors can cause actual future results and trends to differ materially from current expectations.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the Month of May 2026
_______________________
Commission File Number 000-28998
ELBIT SYSTEMS LTD.
(Translation of Registrant’s Name into English)
Advanced Technology Center, P.O.B. 539, Haifa 3100401, Israel
(Address of Principal Corporate Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒
Form 40-F ☐
Attached hereto as Exhibit 1 and incorporated herein by reference is the Registrant’s press release dated May 28, 2026.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
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ELBIT SYSTEMS LTD.
(Registrant)
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By:
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/s/ Pinchas Confino Adi
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Name:
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Pinchas Confino Adi
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Title:
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Corporate Secretary
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Date: May 28, 2026
EXHIBIT INDEX
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Exhibit No.
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Description
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1
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Press Release dated
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May 28, 2026
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Exhibit 1
Elbit Systems Awarded a $350 Million Contract for
Tank Upgrades from an International Customer
Haifa, Israel, May 28, 2026 – Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit
Systems” or the “Company”) announced today that it was awarded a contract valued at approximately $350 million from an international customer to deliver upgrades for Main Battle Tanks (MBTs). The program includes the integration of advanced Fire
Control Systems, Electric Gun & Turret Drive Systems, Communication and Situational Awareness solutions, as well as Mid Life Upgrade package. The contract will be performed over a period of four years.
Under the contract, Elbit Systems will modernize the tanks’ systems to extend their service life and enhance combat readiness. The
upgrade program includes replacing and enhancing key onboard systems, featuring lightweight, high‑performance electro‑optical sights with Artificial Intelligence (AI) capabilities that provide day and night‑time observation, as well as advanced
target detection and tracking. The contract also covers the supply of spare parts and the provision of maintenance and technical support to ensure long‑term operational availability. In addition, it includes the integration of a secure, high-capacity
voice communication suite.
Bezhalel (Butzi) Machlis, President and
CEO of Elbit Systems: "Elbit Systems is a global leader in tank modernization programs. By leveraging the strengths and expertise of our divisions, we deliver comprehensive and integrated solutions that incorporate latest generation fire
control, electro‑optical, and communication systems, along with other state‑of‑the‑art subsystems. This synergy enhances the effectiveness, connectivity, and survivability of main battle tanks, ensuring our customers maintain a decisive operational
advantage."
About Elbit Systems
Elbit Systems is a leading global defense technology company, delivering advanced solutions for a secure and safer world. Elbit Systems
develops, manufactures, integrates and sustains a range of next-generation solutions across multiple domains.
Driven by its agile, collaborative culture, and leveraging Israel’s technology ecosystem, Elbit Systems enables customers to address
rapidly evolving battlefield challenges and overcome threats.
Elbit Systems employs over 20,000 people in dozens of countries across five continents. The Company reported $2,188.8 million in
revenues for the three months ended March 31, 2026 and an order backlog of $30.2 billion as of such date.
For additional information, visit: https://elbitsystems.com,
follow us on X or visit our official Facebook, Youtube and LinkedIn Channels.
Company Contact:
Dr. Yaacov (Kobi) Kagan, Executive VP - CFO
Tel: +972-77-2946663
kobi.kagan@elbitsystems.com
Daniella Finn, VP, Investor Relations
Tel: +972-77-2948984
daniella.finn@elbitsystems.com
Dalia Bodinger, VP, Communications & Brand
Tel: 972-77-2947602+
dalia.bodinger@elbitsystems.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; including the duration and scope of the war in Israel, and the potential impact on our operations; 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 press 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.