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
-
![Polaris to unveil new MRZR Alpha base vehicle at Modern Day Marine]()
Polaris to unveil new MRZR Alpha base vehicle at Modern Day Marine
The new platform was designed to provide 1KW of exportable power as standard and has been developed in partnership with the US Marine Corps (USMC).
-
![British Army details Ajax plans]()
British Army details Ajax plans
Of the six variants in the Ajax programme – reconnaissance (Ajax), reconnaissance support (Ares), C2 (Athena), equipment repair (Apollo), equipment recovery (Atlas) and engineering reconnaissance (Argus) – the Ajax reconnaissance version is now entering service.
-
![CV90 revels in northern exposure while looking for new customers (updated April 2025)]()
CV90 revels in northern exposure while looking for new customers (updated April 2025)
The BAE Systems Hägglunds’ CV90 IFV has been around for decades but continual refreshing to maintain power and relevance, along with a healthy market at home in Sweden and neighbouring countries, has led to more than 1,700 vehicle orders with 10 countries.
-
![Oshkosh notches JLTV win with Dutch order]()
Oshkosh notches JLTV win with Dutch order
The order further extends the Oshkosh Defense production line as AM General, selected for US orders, pushes to get vehicles out the door with no room for export orders.
-
![US and Europe continue moves to boost 155mm munitions production]()
US and Europe continue moves to boost 155mm munitions production
The new US facility for 155mm artillery projectiles is a reflection of a worldwide trend which has also seen Rheinmetall and BAE Systems working to improve capability in the same area.
