Isranomics

Elbit Secures $600 Million Deal With Australian Military

by | Feb 26, 2024 | Company Reporting | 0 comments

Israeli defence technology company, Elbit, has announced today a significant contract win worth approximately $600 million with Hanwha Defence Australia. The contract is designated for the Land 400 Phase 3 project, aimed at enhancing the capabilities of Redback armored personnel carriers (APCs) for the Australian Army.

The project encompasses the provision of advanced systems geared towards bolstering protection, combat, and sensing functionalities for the Redback APCs. The contract spans a duration of five years and signifies a pivotal milestone for Elbit in reinforcing its commitment to delivering cutting-edge solutions to the Australian Army.

Bezalel Machlis, President and CEO of Elbit, expressed confidence in the company’s ability to meet the project’s requirements, stating, “This milestone reaffirms our commitment to providing advanced and critical solutions for the Australian Army.”

This substantial deal comes hot on the heels of another major contract recently secured by Elbit. Last week, the company inked a contract valued at about $300 million for the supply of weapons, patrol, driving, and situational awareness systems to a European client. The contract, spanning six years, encompasses various services including custom design, manufacturing, maintenance, and full in-country product support for approximately 230 armored vehicles.

Moreover, Elbit showcased its latest technological innovation at the air show in Singapore, unveiling the Hermes 650 tactical drone. The Hermes 650 boasts advanced features allowing for short-range takeoff and landing capabilities. With a payload capacity of 260 kg and an operational range of up to 300 km for 24 hours, the new drone represents a significant advancement in tactical reconnaissance capabilities.

The consecutive contract wins and technological advancements underscore Elbit’s position as a leading provider of defence solutions globally. These developments not only solidify the company’s foothold in key markets but also highlight its ongoing commitment to innovation and meeting the evolving needs of defence forces worldwide.

Image credit: Elbit Systems

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