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Elbit Systems Rakes in $1 Billion Already this Year

Elbit Systems

PULS Artillery Rocket-Launcher System (Elbit Systems)

Israeli defense and security systems contractor Elbit Systems has signed almost $1 billion worth of new contracts already so far in 2023. The latest were three deals with two different NATO nations for $372 million, which brings the firm’s total to $824 million in contracts since the start of the year.

Come rain or come shine in the world financial markets, in times of inflation or recession, one of the industries that will always be in demand is defense. Since countries like Romania are near war zones – Romania borders Ukraine which has been fending off a Russian invasion for a year now – they are understandably concerned with defense these days. And what country has a better reputation when it comes to providing defense systems than Israel?

This week alone Elbit Systems was awarded two contracts with an aggregate value of $252 million to supply artillery rocket systems to a European NATO member country. The nation in question was not named.

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Under the first contract in an amount of $119 million, Elbit Systems will supply a battalion’s worth of ATMOS (Autonomous Truck Mounted Howitzer) 155mm/52 caliber truck-mounted howitzers systems. The contract will be performed over a period of two years.

The ATMOS modular artillery system is a combat proven wheeled Howitzer solution, capable of firing all NATO-certified 155mm projectiles that has an effective range of over 40km with standard projectiles and offers extended range with Rocket-Assisted Projectiles (RAP). The ATMOS is designed for rapid deployment and operation enabling provision of fire support for a broad range of missions.

Under the second contract in an amount of $133 million, Elbit Systems will provide two batteries worth of PULS™ artillery rocket-launcher systems including a package of rockets and missiles. The contract will be performed over a period of three years.

Elbit Systems’ PULS launcher supports firing both free-flying rockets and precision guided rockets and missiles ranged from 12km and up to 300km. The PULS launcher is fully adaptable to existing wheeled and tracked platforms, enabling a significant reduction in maintenance and training costs.

And Elbit Systems was also awarded a $120 million “Follow-on Contract” to supply unmanned turrets, weapon stations and mortar systems to the Romanian Armed Forces.

Under the follow-on contract, Elbit Systems will supply UT30 MK2 turrets, RCWS, and the SPEAR mortar systems, all fully integrated onboard the GDELS’ ‘Piranha V’ APC. Elbit Systems’ UT30 MK2 is a 30mm unmanned light turret that integrates weapon systems, fire control systems, sensors and display systems for enhanced combat effectiveness, situational awareness and target acquisition capabilities.

The Company’s RCWS is a light weight high accuracy 12.7mm weapon station. The SPEAR is a 120mm computerized autonomous vehicular mortar system. In addition to Romania, Elbit Systems’ turrets, RCWS and mortar systems have been selected to date by dozens of customers across the world including Israel, U.S.A, Denmark, Austria, Belgium, Brazil, and Croatia.

Bezhalel (Butzi) Machlis, Elbit Systems President & CEO said, “This follow-on contract award is yet another vote of confidence in Elbit Systems’ portfolio of solutions for armored platforms. I believe that the expansion of our integration and production capacity in Europe strengthens our ability to address the growing demand for advanced and proven capabilities for armored platforms.”

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