Elbit Systems Awarded a $180 Million Contract From the Israeli MOD to Provide a new Mission Training Center for its F-16 Fleet

Rhea-AI Summary

Elbit Systems Ltd. (NASDAQ:ESLT) has received a $180 million contract from the Israeli Ministry of Defense to establish a new Mission Training Center for the Israeli Air Force's F-16 fleet. The contract spans three years, followed by an additional fifteen years for operation and maintenance services. This new center will enhance training efficiency, doubling training sorties for F-16 and F-15 crews. It will feature ten advanced simulators enabling realistic battlefield simulations, solidifying Elbit's position as a leader in military training systems.

Positive

• Awarded a $180 million contract to enhance training for Israeli Air Force.
• Contract includes 15 years of operation and maintenance, ensuring long-term revenue.
• New Mission Training Center will double the training sorties for aircrew.

Negative

• None.

HAIFA, Israel, Jan. 10, 2023 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ:ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it was awarded a contract in an amount of approximately $180 million from the Israeli Ministry of Defense (IMoD) to provide, operate and maintain the new Mission Training Center (MTC) for the Israeli Air Force's (IAF) F-16 fleet. The contract will be delivered over a three-year period with an additional fifteen year period that will include operation and maintenance services.

The new Mission Training Center will be added to the existing MTC, that will be upgraded as part of the contract. Both MTCs will improve the quality of aircrew training, doubling the number of training sorties for the IAF's F-16 and F-15 aircrew. The Air Force's new MTC will include ten simulators with advanced high resolution displays, accurate weapon simulation and Elbit's arena generator, that combine to enable simulation of both current and future battlefield environments.

Yoram Shmuely, General Manager of Elbit Systems Aerospace, commented: "Elbit Systems appreciates the strong partnership and the confidence of the IMoD and the IDF. Armed forces around the world are reshaping their training capabilities while striving to improve combat readiness and efficiency. This contract award emphasizes Elbit Systems' leading position as a provider of advanced mission training systems."

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 Contact: 

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

Dr. Yaacov (Kobi) Kagan, ExecutiveVP - CFO
Tel: +972-77-2946663 
kobi.kagan@elbitsystems.com

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

Dalia Bodinger, VP, Communication & Brand
Tel: 972-77-2947602
dalia.bodinger@elbitsystems.com

IR Contact:

Ehud Helft
Kenny Green
EK Global Investor Relations 
Tel: 1-212-378-8040
elbitsystems@ekgir.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 is the value of the contract awarded to Elbit Systems on January 10, 2023?

Elbit Systems was awarded a contract worth approximately $180 million.

How long will the new Mission Training Center contract last for Elbit Systems?

The contract will span three years, with an additional fifteen years for operation and maintenance.

What improvements will the new Mission Training Center provide for the Israeli Air Force?

It will double the number of training sorties for F-16 and F-15 aircrew.

What features will the new training center include?

The center will include ten simulators with advanced displays and realistic weapon simulations.

Which organization awarded the contract to Elbit Systems?

The contract was awarded by the Israeli Ministry of Defense.