Elbit Systems lands $300 million contract to supply armored vehicle systems to European customer
Elbit Systems lands $300 million contract to supply armored vehicle systems to European customer
The Israeli defense company said it will supply weapon, reconnaissance, driving, and situational awareness systems for approximately 230 armored vehicles
Elbit Systems announced on Tuesday that it was awarded a contract in an amount of approximately $300 million to supply weapon, reconnaissance, driving, and situational awareness systems for approximately 230 armored vehicles, to a European customer. The contract will be performed over a period of six years and includes custom design, production, lifecycle maintenance and complete in-country support.
This is the first major international deal announced by Elbit in 2024. Elbit has been busy over recent months supplying the IDF with its products amid the war with Hamas in Gaza. It announced late last year that it had secured several contracts on behalf of the Israeli Ministry of Defense since the outbreak of the Iron Swords War, amounting to a substantial cumulative value.
Prior to the war, over 80% of Elbit's sales were to the global market. In the first nine months of 2023, it sold to the IDF in the amount of $730 million compared to sales of about $1.3 billion to European countries, about $1 billion in the North American market and a similar amount to countries in Asia and the Pacific Ocean.
Its sales during this period grew by almost 9% compared to the corresponding period last year and amounted to approximately $4.3 billion, and at the end of the third quarter its order backlog amounted to approximately $16.6 billion.
