Elbit Systems Awarded $76 Million Contract to Supply Electronic Warfare Training Capability to a Country in Asia-Pacific

Rhea-AI Summary

Elbit Systems Ltd (NASDAQ: ESLT) has secured a $76 million contract to supply Electronic Warfare (EW) training capabilities to an Asia-Pacific Air Force. This contract, set to be executed over two years, enhances aircrew training in a comprehensive EW environment. According to Oren Sabag, General Manager of Elbit Systems ISTAR & EW, this initiative is crucial for mission readiness and cost efficiency.

The agreement highlights the growing demand for advanced EW training, as military readiness increasingly relies on sophisticated simulation technologies.

Positive

• Awarded a $76 million contract for EW training capabilities.
• Contract duration of two years indicates a stable revenue stream.
• Enhances military training effectiveness through advanced technologies.

Negative

• None.

HAIFA, Israel, Sept. 13, 2022 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) and (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that it was awarded a contract valued at approximately $76 million to supply an Electronic Warfare (EW) training capability to the Air Force of a country in Asia-Pacific. The contract will be performed over a period of two years.  

Under the contract, Elbit Systems will supply the Asia-Pacific Air Force with a cutting-edge solution enabling aircrews to conduct airborne training in a real life, multi-threat EW arena. The solution integrates a range of transmitters, sensors, communications, command and control as well as analytical and debriefing tools.  

Oren Sabag, General Manager of Elbit Systems ISTAR & EW, commented: "EW readiness has become critical to mission effectiveness and survivability, driving increasing demand for EW training capabilities beyond the existing synthetic ones. By integrating our advanced EW technologies and the Company's unique training and simulation capabilities we can supply a solution that improves readiness and reduces costs."

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.

Company Contacts:

Joseph Gaspar, Senior EVP – Business Management
Tel:  +972-77-2948661
j.gaspar@elbitsystems.com

Yaacov (Kobi) Kagan, EVP & Chief Financial Officer
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com

Rami Myerson, Director, Investor Relations
Tel: +972-77-2948984
rami.myerson@elbitsystems.com

David Vaaknin, VP, Head of Corporate Communications
Tel: +972-77-2946691
david.vaaknin@elbitsystems.com

IR Contact:

Ehud Helft
Kenny Green
GK Investor Relations 
Tel: 1-646-201-9246
elbitsystems@gkir.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; 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.

 

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SOURCE Elbit Systems Ltd.

FAQ

What contract did Elbit Systems (ESLT) announce on September 13, 2022?

Elbit Systems announced a contract valued at $76 million to supply Electronic Warfare training capabilities to an Asia-Pacific Air Force.

What is the duration of the contract awarded to Elbit Systems (ESLT)?

The contract will be performed over a period of two years.

How will the new Electronic Warfare training capabilities benefit the Asia-Pacific Air Force?

The training capabilities will allow aircrews to conduct training in a real-life, multi-threat EW environment, improving readiness.

Why is Electronic Warfare training important according to Elbit Systems (ESLT)?

Electronic Warfare readiness is critical for mission effectiveness and survivability, driving demand for enhanced training capabilities.