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Elbit Systems Awarded $127 Million Contract to Supply Iron Fist APS for Upgrading U.S. Army's Bradley IFVs

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Elbit Systems (NASDAQ: ESLT) has secured a $127 million follow-on contract to supply Iron Fist Active Protection Systems (APS) to General Dynamics Ordnance and Tactical Systems for upgrading U.S. Army's Bradley M2A4E1 Infantry Fighting Vehicles. The contract spans 34 months.

The Iron Fist APS is an advanced Hard Kill system providing 360-degree protection against various anti-tank threats, including Anti-Tank Rockets, Guided Missiles, Unmanned Aircraft Systems, and Loitering threats. The system is characterized by high performance and low volume, weight, and power requirements.

Elbit Systems (NASDAQ: ESLT) ha ottenuto un contratto di follow-on del valore di 127 milioni di dollari per fornire i sistemi di protezione attiva Iron Fist (APS) a General Dynamics Ordnance e Tactical Systems per l'aggiornamento dei veicoli da combattimento della fanteria Bradley M2A4E1 dell'Esercito degli Stati Uniti. Il contratto ha una durata di 34 mesi.

Il sistema APS Iron Fist è un avanzato sistema Hard Kill che fornisce protezione a 360 gradi contro diverse minacce anticarro, inclusi missili anticarro, missili guidati, sistemi aerei senza pilota e minacce di sorveglianza. Il sistema si contraddistingue per le sue elevate prestazioni e per i bassi requisiti di volume, peso e potenza.

Elbit Systems (NASDAQ: ESLT) ha obtenido un contrato de seguimiento por valor de 127 millones de dólares para suministrar sistemas de protección activa Iron Fist (APS) a General Dynamics Ordnance y Tactical Systems para la modernización de los vehículos de combate de infantería Bradley M2A4E1 del Ejército de EE. UU. El contrato tendrá una duración de 34 meses.

El sistema APS Iron Fist es un avanzado sistema Hard Kill que proporciona protección de 360 grados contra diversas amenazas antitanque, incluidas cohetes antitanque, misiles guiados, sistemas de aeronaves no tripuladas y amenazas de merodeo. El sistema se caracteriza por su alto rendimiento y bajos requisitos de volumen, peso y potencia.

엘빗 시스템스 (NASDAQ: ESLT)는 미 육군의 브래들리 M2A4E1 보병 전투 차량을 업그레이드하기 위해 아이언 피스트 능동 보호 시스템 (APS)을 제너럴 다이내믹스 오르던스 및 전술 시스템스에 공급하는 1억 2700만 달러 규모의 후속 계약을 체결했습니다. 계약 기간은 34개월입니다.

아이언 피스트 APS는 다양한 대 전차 위협(대전차 로켓, 유도 미사일, 무인 항공기 시스템, 대기 위협 포함)에 대해 360도 보호를 제공하는 고급 하드 킬 시스템입니다. 이 시스템은 높은 성능과 낮은 부피, 무게, 전력 요구 사항이 특징입니다.

Elbit Systems (NASDAQ: ESLT) a obtenu un contrat de suivi d'une valeur de 127 millions de dollars pour fournir des systèmes de protection active Iron Fist (APS) à General Dynamics Ordnance et Tactical Systems pour la modernisation des véhicules de combat d'infanterie Bradley M2A4E1 de l'Armée américaine. Le contrat couvre une période de 34 mois.

Le système APS Iron Fist est un système Hard Kill avancé fournissant une protection à 360 degrés contre diverses menaces antichar, y compris les roquettes antichar, les missiles guidés, les systèmes aériens sans pilote et les menaces de patrouille. Le système se caractérise par ses performances élevées et ses faibles exigences en matière de volume, de poids et de puissance.

Elbit Systems (NASDAQ: ESLT) hat einen Folgeauftrag über 127 Millionen Dollar erhalten, um Iron Fist Active Protection Systems (APS) an General Dynamics Ordnance und Tactical Systems zu liefern, um die Bradley M2A4E1 Infanterie-Kampfwagen der US-Armee aufzurüsten. Der Vertrag hat eine Laufzeit von 34 Monaten.

Das Iron Fist APS ist ein fortschrittliches Hard-Kill-System, das 360-Grad-Schutz gegen verschiedene antitankliche Bedrohungen bietet, einschließlich Antitank-Raketen, gelenkten Flugkörpern, unbemannten Luftfahrtsystemen und Geduld-Bedrohungen. Das System zeichnet sich durch hohe Leistung sowie niedrige Anforderungen an Volumen, Gewicht und Leistung aus.

Positive
  • Secured significant $127 million contract for U.S. Army vehicle upgrades
  • Contract strengthens strategic partnership with General Dynamics
  • Expands presence in U.S. defense market
  • Demonstrates continued trust in Elbit's technology
Negative
  • None.

Insights

The $127 million contract for Iron Fist APS represents a significant win for Elbit Systems, strengthening their position in the U.S. defense market. The 34-month delivery timeline suggests steady revenue recognition through 2027. The follow-on nature of the contract indicates strong customer satisfaction and validates the system's effectiveness.

The deal enhances Elbit's relationship with General Dynamics, a major U.S. defense contractor, potentially opening doors for future collaborations. The Iron Fist's advanced capabilities against multiple threat types, including modern UAS and loitering munitions, positions Elbit well in the growing active protection systems market. With increasing global tensions and military modernization programs, this contract could lead to additional orders from NATO allies.

The Iron Fist APS represents cutting-edge defensive technology, featuring significant technical advantages over competitors. Its low size, weight and power requirements make it particularly attractive for military vehicle upgrades. The system's ability to protect against diverse threats, including emerging ones like UAS and loitering munitions, demonstrates Elbit's technological leadership in the field.

The Bradley upgrade program highlights a broader trend in military modernization where enhancing existing platforms with advanced protection systems is more cost-effective than developing new vehicles. This contract validates Elbit's R&D investments and could influence future military vehicle protection standards globally.

HAIFA, Israel, Nov. 5, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it was awarded a follow-on contract of approximately $127 million to supply Iron Fist Active Protection Systems (APS) to General Dynamics Ordnance and Tactical Systems (GD-OTS) for upgrades to the U.S. Army's Bradley M2A4E1 Infantry Fighting Vehicles (IFVs). The contract will be performed over a period of 34 months.

Elbit Systems Logo

The Iron Fist APS is an advanced Hard Kill system aimed at enhancing the self-defense capabilities of light and heavy armored platforms against modern battlefield threats. It is the Israel Defense Force's Second-Generation APS and is characterized by high performance and low volume, weight and power requirements. The system provides armored platforms with 360-degree protection from a wide variety of anti-tank threats, such as Anti-Tank Rockets (ATR), Anti-Tank Guided Missiles (ATGM), Unmanned Aircraft Systems (UAS) and Loitering threats, in both open terrain and complex urban environments.

Yehuda (Udi) Vered, General Manager of Elbit Systems Land: "This follow-on contract with our strategic partner, GD-OTS, emphasizes the high quality of our active protection system and its level of innovation. We are proud of our contribution to empowering the U.S. Armed Forces, as well as other NATO customers and our support of the Israeli Defense Forces. We remain committed to advancing cutting-edge solutions that enhance our customers' operational capabilities and support their mission success."

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 as of June 30, 2024, approximately $1.6 billion in revenues and an order backlog of approximately $21.1 billion.

For additional information, visit: https://elbitsystems.com, follow us on Twitter 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 -544-262636
finn.daniella@elbitsystems.com 

Dalia Bodinger, VP, Communication & 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 current 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 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.

Logo: https://mma.prnewswire.com/media/2017806/Elbit_Systems_Logo.jpg

 

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SOURCE Elbit Systems Ltd.

FAQ

What is the value of Elbit Systems' (ESLT) new contract for Bradley vehicle upgrades?

Elbit Systems (ESLT) was awarded a $127 million follow-on contract to supply Iron Fist Active Protection Systems for U.S. Army's Bradley Infantry Fighting Vehicles.

How long will Elbit Systems (ESLT) take to complete the Bradley upgrade contract?

The contract will be performed over a period of 34 months.

What protection capabilities does Elbit Systems' (ESLT) Iron Fist APS provide?

Iron Fist APS provides 360-degree protection against anti-tank threats, including Anti-Tank Rockets, Guided Missiles, Unmanned Aircraft Systems, and Loitering threats in both open terrain and urban environments.

Elbit Systems Ltd

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