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
-
![Clearer military requirements could unlock UGV market growth]()
Clearer military requirements could unlock UGV market growth
Western armies continue to test uncrewed ground vehicles, but wider procurement will depend on turning ambitions for autonomy into defined operational roles and funded requirements.
-
![Can NATO’s CUAS marketplace turn urgent demand into deliveries?]()
Can NATO’s CUAS marketplace turn urgent demand into deliveries?
Framework contracts and leasing options aim to shorten acquisition timelines, while manufacturing partnerships could help suppliers scale production to meet allied demand.
-
![A medium UGV market emerges as the US weighs up its options]()
A medium UGV market emerges as the US weighs up its options
The US is pursuing multiple UGV programmes, from commercial robotic platforms to new autonomy technologies. The combination of these efforts could prove key to turning ambition into operational capability.
-
![NATO looks for answers to overcome standards hurdles and improve procurement]()
NATO looks for answers to overcome standards hurdles and improve procurement
NATO is looking to artificial intelligence to provide integration between different C2 systems to create a common operational picture, potentially offering a faster route to interoperability than the slow-moving processes of NATO standards committees.
