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

Elbit Systems Ltd (NASDAQ: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.