Elbit Systems of America awarded ID/IQ contract for AH-64 Apache Integrated Helmet And Display Sight System (IHADSS) equipment from U.S. Army

Rhea-AI Summary

Elbit Systems of America has secured a firm-fixed-price, Indefinite-Delivery/Indefinite-Quantity contract with the U.S. Army to supply Integrated Helmet And Display Sight System (IHADSS) equipment for the AH-64 Apache helicopter fleet, valued at up to $76 million. The first order is approximately $6 million. Deliveries will occur over five years, concluding in September 2026. This contract reinforces Elbit's longstanding relationship with the Army and positions the company to continue supporting Apache operations with advanced technology solutions.

Positive

• Contract awarded for IHADSS equipment, potentially worth $76 million.
• Initial delivery order valued at $6 million received.
• Contract term spans five years, ensuring revenue continuity.
• Strengthens long-term relationship with the U.S. Army.

Negative

• None.

FORT WORTH, Texas, Oct. 6, 2021 /PRNewswire/ -- Apache pilots for the United States Army require a reliable solution to strengthen mission success and crew safety when flying. Elbit Systems of America's Integrated Helmet And Display Sight System (IHADSS) offers this ability by presenting critical information directly in front of the pilot's eye. Elbit Systems of America has received a firm-fixed-price, Indefinite-Delivery/Indefinite-Quantity contract from the U.S. Army to provide IHADSS equipment needed to support the AH-64 Apache helicopter fleet.

This contract has a potential maximum value of approximately $76million and the company has already received its first delivery order worth approximately $6 million.

These IHADSS parts will be delivered to the Army from the company's Fort Worth engineering and manufacturing facility during the 5-year period of performance that runs through September 2026.

"This contract continues our decades-long relationship with the U.S. Army's Apache fleet," said Raanan Horowitz, President and CEO of Elbit Systems of America. "IHADSS is uniquely designed for the Apache. It displays flight and targeting information directly in front of the pilots' eyes. This is a significant tactical advantage that provides reliable situational awareness, eases the pilot's workload, helps to enhance their safety and achieve success when flying their most demanding missions." 

In addition to the IHADSS for the Apache, the company provides the heart of the AH-64E model, the Multicore Mission Processor, which is used to provide all of the functionality of the onboard Apache systems. Elbit Systems of America's long-standing relationship with the customer and understanding of the mission needs, allows us to continue our work developing necessary products and solutions to keep the Apache effective into the future, including the next-generation helmet mounted display.

About Elbit Systems of America, LLC

Elbit Systems of America, headquartered in Fort Worth, Texas, is a leading provider of high-performance products, system solutions, and support services focusing on the defense, homeland security, law enforcement, commercial aviation, and medical instrumentation markets. With facilities throughout the U.S., Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States. Elbit Systems of America, LLC is wholly owned by Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT), a global high technology company engaged in a wide range of programs for innovative defense and commercial applications. For additional information, visit: www.ElbitAmerica.com or follow us on Twitter, LinkedIn and Instagram.

About Elbit Systems Ltd.

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.

Trademarks

Elbit Systems of America and other trademarks, service marks and logos are registered or unregistered marks of Elbit Systems of America companies in the United States and in foreign countries. Copyright ©2021Elbit Systems of America. All rights reserved.

Forward Looking Statement

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.

Elbit Systems of America, LLC
4700 Marine Creek Parkway
Fort Worth, Texas 76087
www.ElbitAmerica.com

Media Contacts:
Greg Caires, +1 682-286-2299, greg.caires@elbitsystems-us.com  
Amy Hartley, +1 682-286-2411, amy.hartley@elbitsystems-us.com

Dana Noyman
Dana.Noyman@elbitsystems.com  
+972-54-9998809

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SOURCE Elbit Systems of America, LLC

FAQ

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