The Israeli Ministry of Defense today announced the completion of a series of cumulative deals with the Israeli Defense Electronics Company Elbit Systems Limited (Nasdaq: ESLT; level:ESLT) to provide the Israeli army with advanced communications systems with a total value of approximately $130 million.
The contracts include the supply of thousands of advanced communications systems from the Software Defined Radio (SDR) family, satellite communications systems, data links for autonomous platforms, and the expansion of 24/7 regional maintenance centers to support combat forces. In addition, over the past year, the Ministry of Defense’s Directorate of Research and Development (DDR&D), in cooperation with Elbit Systems and the IDF, has developed innovative solutions for secure and encrypted communications that adapt to the evolving needs of IDF units.
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This is the latest in a series of major deals between the Ministry of Defense and Elbit. In May, the company informed the Tel Aviv Stock Exchange that it had received several contracts worth $760 million to supply ammunition to the Ministry of Defense, to be delivered over two years. Elbit noted in its announcement that since the beginning of the war, “Elbit Systems has experienced a significant increase in demand for its products and solutions from the Israeli Ministry of Defense compared to pre-war demand levels.
Six weeks ago, Elbit received a NIS 2 billion order from the Ministry of Defense to expand serial production of Iron Beam, the first laser interceptor system developed in Israel, with the project led by Rafael Advanced Defense Systems. Of this total order, which aims to deliver the system in the second half of 2025, Elbit received a contract worth approximately $200 million from the Ministry of Defense to supply the laser. As part of the contract with Elbit, the company will supply the Ministry of Defense with a high-energy laser solution, developed internally to increase protection against a variety of threats. In addition, the contract includes ongoing support services.
Published by Globes, Israel Business News – en.globes.co.il – on December 16, 2024
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