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%,
Our news & analysis is now part of Defence Insight®
A Basic-level or higher Defence Insight subscription is now required to view this content.
More from Land Warfare
-
![Boxer lands another order as contracts and opportunities build momentum]()
Boxer lands another order as contracts and opportunities build momentum
As Germany prepares its €25 billion order under the Arminius framework – the biggest Boxer procurement to date – the platform could become an increasingly powerful contender in European competitions.
-
![Trans-European iMUGS2 uncrewed systems programme set for three-day exercise in 2028]()
Trans-European iMUGS2 uncrewed systems programme set for three-day exercise in 2028
The next stage of the Integrated Modular Unmanned Ground System (iMUGS) programme, dubbed iMUGS2, was launched in November 2025. Three major demonstrations are planned before the end of 2028.
-
![British Army Land Rover replacement plan inches forward]()
British Army Land Rover replacement plan inches forward
The UK Ministry of Defence has proposed a selection date of May 2027 for the Land Rover replacement requirement, with deliveries expected through to 2036. Next month’s DVD exhibition will be a key shop window for bidders.
-
![Snow patrol and access all areas: the Arctic all-terrain vehicles market grows]()
Snow patrol and access all areas: the Arctic all-terrain vehicles market grows
The procurement and planned procurement of articulated tracked all-terrain vehicles is being driven by a need to replace older platforms and an acknowledgement of a capability gap for Arctic regions.
-
![Push strengthens for a second JLTV supplier]()
Push strengthens for a second JLTV supplier
A move, launched in May, could lead to a second supplier for the US Marines Corps’ Joint Light Tactical Vehicle requirement. Meanwhile, Wisconsin elected representatives have been pushing for necessary funding to be included in the FY27 budget.
