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Elbit Growth Will Continue Despite Downturn Says CEO Ackerman

19th June 2009 - 15:18 GMT | by in Paris

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This week at Paris Airshow, Joseph Ackerman, president and CEO, Elbit Systems, stated that his company’s sales grew 29% CAGR 2004-2008. “We have moved from supplying systems to solutions,” he said. Elbit has seen a 67% growth in providing C4ISTAR solutions over the past five years.

Commenting on the financial turmoil in the world he said that “there is still a growing world demand for defence electronics.” He showed company projections that, while acknowledging a short term decrease in US spending, foresaw that within a year it would once again continue to increase. He did recognise that some big programmes

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