Elbit in 2024: A Fortress of Innovation

The year 2024 presented many challenges for Elbit Systems, including the Iron Swords war and the heightened operational demands from the Israeli Defense Forces (IDF). Nevertheless, the company reached substantial milestones, demonstrating both resilience and commitment.

From fulfilling contracts with international partners to introducing groundbreaking technologies, Elbit Systems ended the year with notable adaptability and strength. These achievements underscored its leadership in defense innovation and honored the dedication of its employees, many of whom worked tirelessly to support critical projects.

Major Contracts, Impressive Sales

In response to growing demand from both Israeli and international clients, Elbit Systems secured several high-value contracts, reinforcing its trusted reputation and expanding global influence.

With contracts totaling hundreds of millions of dollars, the company delivered essential defense solutions to both global and local clients. Key achievements include:

1.     Recognized by Israel for innovative technology

Elbit Systems was awarded the 2024 Israel Defense Prize for three separate innovative defense technological systems. The Company was recognized for our Citron Tree and Golden Almond Battle Management Centers (BMC) in the David’s Sling Air Defense System. We were also noted for our role in producing technology for the IDF’s Namer Heavy Armored Personnel Carrier (APC) and for a classified intelligence project. All three projects were done in collaboration with the Israeli Ministry of Defense (IMOD).

2.     An “Iron Beam” of Defense

Elbit Systems was awarded an approximately $200 million contract by the IMOD to supply high-power laser systems for the “Iron Beam” air defense system. Under the contract, Elbit Systems will supply its high-power laser solution to the IMOD to provide a robust defense against a variety of threats.

3. Iron Fist Secured

Elbit Systems secured a $37 million contract and then a $127 million follow-on contract 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). Elbit also secured a $130 million contract with BAE Systems Hägglunds to supply the Iron Fist APS for armored vehicles in a European country. The system enhances vehicle survivability by intercepting and neutralizing threats, offering vital protection in high-risk environments.

     4. Ammunition Boost

Elbit Systems received a $340 million contract from the IMOD to supply diverse ammunition types, pivotal to Israel’s defense infrastructure. This agreement bolsters the operational readiness and capabilities of the IDF.

     5. Power Pack for Israel

Through a series of agreements totaling $760 million, Elbit Systems will supply various ammunition types to the IMOD, ensuring the IDF has consistent access to pivotal resources for sustained defense.

    6. Iron Sting’s Precision

Elbit Systems received a $190 million contract from the IMOD for the Iron Sting, a guided mortar munition with precise targeting capabilities. This advanced system assists in minimizing collateral damage and boosts operational effectiveness in complex combat environments.

     7. Australia’s Redback Upgrade

Elbit Systems was awarded a $600 million contract for Australia’s Land 400 Phase 3 project, supplying systems for the Redback Infantry Fighting Vehicle (IFV). This contract supports Australia’s defense enhancement efforts by delivering advanced technology for improved vehicle protection.

      8. Protecting Europe on the Ground and in the Air

Elbit Systems was awarded contracts worth a total amount of approximately $335 million to supply the PULS™ (Precise and Universal Launching Systems) and the Hermes™ 900 Unmanned Aircraft Systems (UAS) equipped with advanced payloads to a European country.

      9. Crossbow Goes Unmanned

Elbit Systems secured its first contract for the Crossbow unmanned turreted mortar system, worth $53 million, from a European client. This innovative system combines precision with firepower, aligning with the evolving requirements of modern battlefields.

      10. The Hermes 650 Launched

Elbit Systems launched the Hermes 650 Spark, a UAV with enhanced endurance and payload capacity. Developed for surveillance and reconnaissance, this UAV reflects Elbit’s commitment to innovation in unmanned aerial solutions, addressing the expanding needs of defense and civilian sectors.

Despite the challenges of 2024, Elbit Systems’ performance showcases its adaptability in a dynamic landscape. By leveraging both experienced professionals and new recruits, the company met this year’s demands, ensuring high-quality products reached customers globally.

The content of the article does not constitute business or financial information about Elbit Systems Ltd. (the “Company”) and is not intended to be a basis for making investment decisions in the Company’s securities. In order to obtain business or financial information about the Company, please refer to the reports and filings that the Company regularly publishes on the website of the U.S Securities and Exchange Commission (EDGAR) and on the notification system of the Tel Aviv Stock Exchange (Maya). 

The article may contain forward-looking statements such as estimates, forecasts, estimates, plans, etc. that refer to future events that are considered forward-looking information as defined under the securities laws of Israel and the United States. There is no certainty that such information will be realized, in whole or in part, and the actual result may differ from what was presented in the article, among other things due to its dependence on external factors that are not under the control of the Company and that cannot be evaluated in advance. The forward-looking statements are based on the Company’s estimates at the time of publication, and the Company has no obligation to update or correct this data.