Elbit Systems Awarded a $95 Million Contract to Supply Canister Configuration SkyStriker Loitering Munitions to a European Country
HAIFA, Israel, Sept. 18, 2023 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it was awarded a $95 million contract to supply SkyStriker loitering munitions (LM) to a European country. The contract will be carried out over a period of two years.
As part of the contract Elbit Systems will provide several hundred SkyStriker units.
Elbit Systems' SkyStriker LM is a fully autonomous loitering munition that can locate, acquire and engage operator designated targets with a warhead of up to 10 Kg, enabling high-precision performance. SkyStriker can be launched from a variety of ground and aerial platforms, including from a dedicated canister on Elbit Systems' PULS™ (Precise and Universal Launching System) rocket artillery systems.
Equipped with an electrical engine, the SkyStriker enables covert operations of up to 2 hours and with a range of 100km. The system can precisely strike targets while maintaining a "man in the loop" even in GPS and communication denied environments.
The Skystriker can use a number of warhead types and thanks to its modular design, it can be interchanged in the field during pre-flight according to the operational requirement.
Yoram Shmuely, General Manager of Elbit Systems Aerospace: "We are pleased to deliver an innovative and effective solution to our cutomers that combines Elbit Systems air and ground solutions. As a covert and agile platform, the SkyStriker loitering munition delivers high performance precision and reliability, providing a mission critical advantage to warfighters on the modern battlefield."
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.>
Rami Myerson, Director, Investor Relations
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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.
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