Spain cancels 700m Elbit artillery deal &#8211; report

Spain cancels 700m Elbit artillery deal – report

The Spanish Ministry of Defense has decided to cancel the procurement of the Israeli company’s PULS artillery system, according to reports in the Spanish media.

Spain has decided to cancel a deal with Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) for the PULS artillery system, according to reports in the Spanish media, although the Israeli defense electronics company has received no official notification on the matter. The deal is worth €700 million, of which Elbit would have received €150 million.

Elbit wins Peruvian PULS artillery system tender

Spain suspends deal for Rafael anti-tank missiles

The PULS system provides a comprehensive solution for launching unguided rockets, precision weapons and missiles for various ranges. The launcher is fully compatible with existing platforms, whether on wheels or caterpillars, thus allowing a significant reduction in maintenance and training costs, while being able to hit targets at a maximum range of 300 kilometers. The cancellation of the PULS deal would follow the decision by the Spanish Ministry of Defense in June to suspend a huge deal to purchase Spike LR 2 anti-tank missiles from Rafael Advanced Defense Systems worth €285 million ($310 million) for the Spanish army and navy. The decision, reported by Spanish news agency EFE, is part of a Spanish effort to “reduce to zero” technological dependence on Israel due to the war in Gaza.

The agreement with the Spanish Ministry of Defense for the Spike LR 2 missiles was signed in October 2023 with PAP Tecnos, Rafael’s subsidiary in Spain. The deal included 168 launchers, 1,680 missiles and full logistical support. The beneficiaries from the cancellation of the deal with Rafael are US giants Raytheon and Lockheed Martin, from whom Spain is considering procuring Javelin missiles.

Published by Globes, Israel business news – en.globes.co.il – on September 15, 2025.