A huge tank improvement project forElbit Systems : The company will upgrade the tanks of an international customer in a project totaling 240 million dollars.
The company announced today (Wednesday) that it won two contracts with an aggregate amount of 240 million dollars for the improvement of battle tanks for an international customer. Elbit will upgrade the state’s battle tanks, whose name cannot be published, and provide advanced electronic suits for these tanks. A $60 million contract will be performed over a two-year period, and a $180 million contract will be performed over a four-year period.
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Elbit – which is considered to be the highest-grossing Israeli defense company according to the “Defense News” website, with revenues of $4.77 billion in 2021, an increase of 13% from $4.22 billion in 2020 – yesterday (Tuesday) presented reports that actually missed the growth expectations for half the first of the year. At Elbit they explained that the new contracts are mainly for particularly large projects, which do not have a quarterly expression, and that the growth will be seen in the future.
Among the company’s major projects – a contract to provide an intelligence system to a country in Europe in the amount of 660 million dollars; A $548 million contract to provide the military of an Asia Pacific country with a comprehensive air, sea and land digital command and control capability; and a $220 million contract to supply laser homing warheads to another country in the Asia Pacific.
The company hopes to obtain many more contracts against the background of the war in Ukraine, which has resulted in a real increase in the defense budgets of countries all over the world and especially in Europe.
Elbit is considered a leading company in technological systems for armored combat vehicles. The company develops and manufactures fire control systems, armament control, electro-optical arrays for tanks and armored vehicles (the tank sight from Elbit’s development won the company the Israel Defense Award), defense systems for anti-tank weapons, including the active defense system “Dorvan Arrow” that will protect the new Eitan armored vehicles of the IDF and on the D9 bulldozers of the IDF Engineering Corps, and is supplied to international armies, including the US Army and the Dutch Army. In addition, Elbit is developing the Iron Vision system for tankers, which is based on helmet technologies for pilots. Along with the technological systems, Elbit also produces precision ammunition for tanks that were sold, among other things, to the armies of Finland and Sweden.
Bezalel (Butsi) Machlis, president and CEO of Elbit Systems, said: “There is a renewed interest on the part of armies in improving the operational capabilities of their armored platforms. I believe that Elbit Systems is uniquely positioned to provide a response to the growing demand in this market, thanks to our ability to provide comprehensive solutions.”