November 13, 2024 | International, Land
April 24, 2022 | International, Aerospace
The Defense Department has awarded the first contract of the Ukraine Security Assistance Initiative's $300 million budget for this year, a $19.7 million deal with AeroVironment for a small, hand-launched surveillance drone called the RQ-20 Puma AE.
February 19, 2020 | International, C4ISR
Haifa, Israel, February 18, 2020 – Elbit Systems Ltd. (NASDAQ: ESLT, TASE: ESLT) (“Elbit Systems”) announced today that it was awarded an approximately $670 million contract to supply defense solutions to a country in Asia-Pacific. The contract will be performed over a 25-month period. Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “This significant contract award is a testament to the trust that customers place with our solutions and to the leading position we hold in the market.” About Elbit Systems Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land, and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems. For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels. Contacts: Company Contact: Joseph Gaspar, Executive VP & CFO Tel: +972-4-8316663 j.gaspar@elbitsystems.com Rami Myerson, Director, Investor Relations Tel: +972-77-2946403 rami.myerson@elbitsystems.com David Vaaknin, VP, Brand & Communications Tel: +972-77-2946691 david.vaaknin@elbitsystems.com IR Contact: Ehud Helft Gavriel Frohwein GK Investor Relations Tel: 1-646-688-3559 elbitsystems@gkir.com View source version on Elbit Systems Ltd: https://elbitsystems.com/pr-new/elbit-systems-awarded-670-million-contract-to-supply-defense-solutions-to-a-country-in-asia-pacific/
June 30, 2020 | International, Aerospace
By Jon Harper Market opportunities for the Army's helicopter fleet will average about $10 billion per year over the next decade as the service modernizes its rotary-wing assets, according to analysts. The current inventory includes UH-60 Black Hawk utility helicopters, AH-46 Apache attack helicopters, CH-47 Chinook heavy-lift helicopters and UH-72 Lakota light utility helicopters. All but the Lakota are still in production today. Meanwhile, future vertical lift is one of the Army's top three modernization priorities, and it is pursuing two new aircraft: an armed scout platform known as the future attack reconnaissance aircraft, or FARA, and the future long-range assault aircraft, or FLRAA. “The Army's effort to develop and field the next generation of vertical lift aircraft ... will have significant implications for the industrial base,” defense analysts Andrew Hunter and Rhys McCormick wrote in a recent report for the Center for Strategic and International Studies. “Projections show that although there will be a drop-off in the procurement of legacy aircraft in the mid-2020s as FARA and FLRAA full-rate production starts to ramp up, there is still a roughly $8 billion to $10 billion annual addressable Army vertical lift market over the next decade,” they said in the report titled, “Assessing the Industrial Base Implications of the Army's Future Vertical Lift Plans.” FLRAA has an estimated program value of $40 billion, while FARA could be worth about $20 billion. In March, the Army announced it had selected Bell and a Sikorsky-Boeing team for the FLRAA competitive demonstration and risk reduction effort. The winner of that phase is expected to be selected in fiscal year 2022. The service also picked Bell and Sikorsky to continue on in the competition for the future attack reconnaissance aircraft. A “flyoff” for the FARA competition is scheduled for fiscal year 2023, with a production decision expected in fiscal year 2024. Both the FARA and FLRAA platforms are slated to enter production later this decade. Meanwhile, operation and sustainment costs will remain the largest source of Army vertical lift spending over the next 10 years, according to the CSIS report. “There's going to be opportunity [for industry] in kind of the aftermarket side because even as you start to produce the new aircraft, there will still be the enduring platforms that are out” operating as next-generation helicopters come online, said Patrick Mason, head of Army program executive office aviation. “We will still need spares and certain things done within the aftermarket side as this transition would occur,” he added during a recent press briefing. “That drives so much of the supply chain.” Some observers have questioned whether the Army will have enough money to buy high-ticket FARA and FLRAA platforms at the same time given future budget projections. There is also the risk that the programs might go off the rails. “FVL isn't the only game in town, but it is by far the biggest,” Loren Thompson, a defense industry consultant and chief operating officer of the Lexington Institute think tank, wrote in a recent op-ed for Forbes. “If production of legacy rotorcraft ceases to make room for new ones and then FVL fails to deliver, industry might not have enough cash flow to sustain essential skills and suppliers.” Hunter said problems with the future vertical lift initiatives would upend the CSIS market projections. “If you were to take one of those programs out of the equation, that changes the addressable market in two significant ways,” he said. “One is, it shrinks it obviously by pulling out ... multiple billion dollars of investment throughout the 10-year window that we looked at. The other effect that it has is it reduces the competitive opportunity for industry. Right now, you know you've got multiple companies gunning for two aircraft. And even if you went down to one [program] and you were still competing, that's much less opportunity for industry to win in that scenario.” https://www.nationaldefensemagazine.org/articles/2020/6/29/army-helo-market-pegged-at-$10-billion