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
-
![Lockheed picks Australian site for GMLRS support and possible missile manufacture]()
Lockheed picks Australian site for GMLRS support and possible missile manufacture
A final decision on the siting of an Australian Weapons Manufacturing Complex (AMWC), which will produce all-up GMLRS (Guided Multiple Launch Rocket System) rounds, will be made by the Australian Department of Defence (DoD).
-
![Raytheon and Diehl Defence sign deal to co-produce Stinger missiles in Europe]()
Raytheon and Diehl Defence sign deal to co-produce Stinger missiles in Europe
An agreement has been signed that will extend Stinger missile system production to Europe with Diehl Defence currently looking at manufacturing locations.
-
![New version of Altay tank to be delivered “soon” with Turkish engine for later iterations]()
New version of Altay tank to be delivered “soon” with Turkish engine for later iterations
The first of the Altay T1 Main Battle Tanks (MBTs) will have a South Korean power pack while later Altay T2s will be fitted with the locally made BMC BATU engine.
-
![Lockheed Martin wins deals for missiles and systems worth $5 billion]()
Lockheed Martin wins deals for missiles and systems worth $5 billion
There continues to be an insatiable desire for air-defence and air-launched missiles and systems in the US and worldwide. Lockheed Martin’s latest deals reinforce the demand and highlight the supply chain challenge for manufacturing solid rocket motors.
