Elbit Systems Awarded a $72 Million Contract to Supply Hermes 900 Unmanned Aircraft Systems to an International Customer

Rhea-AI Summary

Elbit Systems Ltd. (NASDAQ: ESLT) has secured a $72 million contract to supply Hermes™ 900 Unmanned Aircraft Systems (UAS) and training to an international customer. The contract spans two years and includes advanced capabilities such as the SkEye™ Wide Area Persistent Surveillance system and multi-spectral Electro-Optical payloads. With over 15 customers, the Hermes 900 UAS is recognized for its technological sophistication and integration potential with manned forces, addressing evolving global threats.

Positive

• $72 million contract for Hermes 900 UAS solidifies market position.
• Advanced capabilities enhance competitive advantage.
• Proven demand with over 15 existing customers.

Negative

• None

HAIFA, Israel, Nov. 14, 2022 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that it was awarded a contract valued at $72 million to supply Hermes™ 900 Unmanned Aircraft Systems (UAS) and training capabilities to an international customer. The contract will be performed over a two-year period. 

Under the contract, Elbit Systems will supply Hermes 900 UAS equipped with the SkEye™ Wide Area Persistent Surveillance system, SPECTRO™ XR multi-spectral Electro-Optical payload, Satellite Communication, Signal Intelligence (SIGINT) payloads and additional capabilities.

The Hermes 900 UAS has been selected to-date by more than 15 customers attesting to its competitive edge combining technological sophistication, reliability, open architecture and a solid growth path.

Yoram Shmuely, General Manager of Elbit Systems Aerospace, commented: "This contract is another vote of confidence in the Hermes family of UAS. We are witnessing growing demand around the globe for our unmanned solutions that are capable of effective integration with manned forces to address the rapidly evolving threats in all domains of operation."

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
EK Global IR 
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 contract did Elbit Systems announce on November 14, 2022?

Elbit Systems announced a $72 million contract to supply Hermes 900 UAS and training capabilities.

What is the duration of the contract awarded to Elbit Systems?

The contract will be performed over a two-year period.

What capabilities are included in the Hermes 900 UAS contract?

The contract includes capabilities such as SkEye™ surveillance and multi-spectral Electro-Optical payloads.

How many customers have selected the Hermes 900 UAS?

The Hermes 900 UAS has been selected by more than 15 customers.

What is the stock symbol for Elbit Systems?

The stock symbol for Elbit Systems is ESLT.