Elbit reports 11% revenue growth on the back of land division and war in Gaza
Contracts for ammunition have boosted Elbit Systems order book. (Photo: Elbit Systems)
Elbit Systems reported little growth in its US and aerospace businesses for the first quarter of 2024 compared to the same period in 2023 but substantial growth in C4ISR, EW and land with the latter boosted by ammunition sales.
Elbit Systems, reporting its first full quarter (1Q) since the Hamas attack on Israel and the latter’s invasion of Gaza, has recorded a major increase in revenue on the back of providing equipment and material to land forces, a movement reflected by other companies supplying equipment to Israel and to the Ukraine.
The company noted revenues for 1Q 2024 were US$1.5 billion, as compared to $1.4 billion in 1Q 2023, with land revenues increasing by 26%, from $301 million to $381 million due to the increase in ammunition and munition sales in Israel.
C4I and cyber revenues increased by 12%,
Already have an account? Log in
Want to keep reading this article?
More from Land Warfare
-
![Dedicated drone munitions could unlock modular mission potential]()
Dedicated drone munitions could unlock modular mission potential
Top attacks have proven effective against heavily armoured vehicles in Ukraine. A new family of uncrewed aerial system-delivered munitions is looking to press that advantage further.
-
![Companies look to tank-launched guided projectiles for non-line-of-sight effects]()
Companies look to tank-launched guided projectiles for non-line-of-sight effects
While integration of guided weapons on modern armoured vehicles usually takes the form of a podded launcher on the turret exterior, recent developments suggest the concept of firing missiles from a tank’s main gun could be seeing a revival.
-
![Germany signs multi-billion-dollar deals for 6x6 CAVS and GDELS Eagle vehicles]()
Germany signs multi-billion-dollar deals for 6x6 CAVS and GDELS Eagle vehicles
The order is a further boost for the Common Armoured Vehicles System programme which has notched notable successes in the past 12 months. The first vehicle, made in Finland, will be delivered next year with local production expected to ramp up in 2027.
-
![Rheinmetall and KNDS tank tie-up narrows trans-European options]()
Rheinmetall and KNDS tank tie-up narrows trans-European options
The French and German governments signed an agreement in June 2018 to cooperate on the development of a new main battle tank under the Main Ground Combat System programme but the effort has struggled. This new agreement may damage it further.
