Elbit Systems Secures $56M In Contracts To Supply Underwater Warfare Capabilities

  • Elbit Systems Ltd ESLT has secured ~$56 million in contracts to supply Anti-Submarine Warfare (ASW) capabilities to the Navy of a country in Asia-Pacific. The contracts are to be performed over 12 months.
  • Elbit Systems will provide the Seagull USVs configured to perform ASW missions and the Towed Reelable Active Passive Sonar systems.
  • The Seagull USVs will integrate Helicopter/Ship Long-Range Active Sonars and will be equipped with Elbit's autonomous suite, Combat Management System, and Satellite Communication capability.
  • "Advanced autonomous and sonar capabilities are a key to addressing the expanding challenges in the underwater arena. We believe that our portfolio of proven maritime capabilities is well-positioned to support the growing operational requirements of naval forces around the world," commented Oren Sabag, Co-General Manager of Elbit Systems ISTAR & EW.
  • Price Action: ESLT shares are trading higher by 2.27% at $149.85 during the premarket session on Monday.
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