Israel Aerospace Industries (IAI)'s ELTA Systems Group and Subsidiary Awarded $40 million in Contracts for SAR Payload and Airborne Maritime Surveillance Radars
Nov 12, 2008
ELTA Systems Ltd., a Group and wholly-owned subsidiary of Israel Aerospace Industries Ltd. (IAI) was recently awarded two contracts from a customer in the Far East. The total value of these contracts is almost $40 million.
One $20 million contract is for EL/M-2055 Synthetic Aperture Radar (SAR) UAV payloads.
These are airborne, all-weather surface Image Intelligence (IMINT) systems, based on Synthetic Aperture Radar technology.
The second contract is valued at $19.5 million and is for Airborne Maritime Surveillance Radars for Maritime Patrol Aircraft.
Nissim Hadas, IAI Corporate VP & President of ELTA's Systems Ltd. said: "ELTA has an international reputation in advanced airborne IMINT systems based on radar sensors and advanced technologies. These systems operate similarly from any airborne platform, including UAVs.
Sales by ELTA's Systems in the first half of 2008 reached $520 million, compared with $457 million in the first half of 2007, an increase of $63 million (14 percent).
This growth was possible mainly due to progress in ELTA's Airborne Early Warning & Control Aircraft projects and other advanced intelligence systems.
IAI's sales in the first half of 2008 reached $1,905 million, compared with $1,590 million in the first half of 2007, an increase of $315 million (20 percent).
Israel Aerospace Industries Ltd. is a recognized leader in the aerospace and defense industry and Israel’s largest industrial exporter.
ELTA Systems Ltd., a Group and wholly-owned subsidiary of IAI, is one of Israel's leading defense electronics companies and a leader in Intelligence, Surveillance, Target Acquisition and Reconnaissance (ISTAR), Early-Warning Command & Control, Home-Land Security, Self-Protection and Self-Defense, and Fire-Control applications on board both manned and unmanned aircraft.
For further information, please contact:
Doron Suslik
Deputy Corporate Vice President for Communications
Tel: 972 (3) 935-8509
Fax: 972 (3) 935-8512
Email: hpaz@iai.co.il
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