Elbit Systems (TASE: ESLT; Nasdaq: ESLT) has been awarded a follow-on contract of approximately $127 million to supply Iron Fist Active Protection Systems (APS) to General Dynamics Ordnance and Tactical Systems (GD-OTS) for upgrades to the US Army’s Bradley M2A4E1 Infantry Fighting Vehicles (IFVs). The contract will be performed over a period of 34 months.
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The Iron Fist APS is an advanced Hard Kill system aimed at enhancing the self-defense capabilities of light and heavy armored platforms against modern battlefield threats. It is the Israel Defense Force’s Second-Generation APS and according to Elbit Systems is characterized by high performance and low volume, weight and power requirements. The system provides armored platforms with 360-degree protection from a wide variety of anti-tank threats, such as Anti-Tank Rockets (ATR), Anti-Tank Guided Missiles (ATGM), Unmanned Aircraft Systems (UAS) and Loitering threats, in both open terrain and complex urban environments.
Elbit Systems Land general manager Yehuda (Udi) Vered said, “This follow-on contract with our strategic partner, GD-OTS, emphasizes the high quality of our active protection system and its level of innovation. We are proud of our contribution to empowering the US Armed Forces, as well as other NATO customers, and our support of the Israeli Defense Forces. We remain committed to advancing cutting-edge solutions that enhance our customers’ operational capabilities and support their mission success.”
Elbit Systems’ share price is up 0.82% on the Tel Aviv Stock Exchange this morning.
Published by Globes, Israel business news – en.globes.co.il – on November 5, 2024.
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