Elbit Systems Awarded $350M Tank Upgrade Contract
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Elbit Systems announced that it was awarded a contract valued at approximately $350M from an international customer to deliver upgrades for Main Battle Tanks. The program includes the integration of advanced Fire Control Systems, Electric Gun & Turret Drive Systems, Communication and Situational Awareness solutions, as well as Mid Life Upgrade package. The contract will be performed over a period of four years. Under the contract, Elbit Systems will modernize the tanks' systems to extend their service life and enhance combat readiness. The upgrade program includes replacing and enhancing key onboard systems, featuring lightweight, high-performance electro-optical sights with Artificial Intelligence capabilities that provide day and night-time observation, as well as advanced target detection and tracking. The contract also covers the supply of spare parts and the provision of maintenance and technical support to ensure long-term operational availability. In addition, it includes the integration of a secure, high-capacity voice communication suite.
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Analyst Views on ESLT
Wall Street analysts forecast ESLT stock price to fall
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 892.630
Low
531.00
Averages
553.67
High
580.00
Current: 892.630
Low
531.00
Averages
553.67
High
580.00
About ESLT
Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land, and naval systems and products for defense, homeland security, and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs. In addition, it provides a range of support services. The Company's activities include military aircraft and helicopter systems; helmet-mounted systems; commercial aviation systems and aerostructures; unmanned aircraft and unmanned surface vessels; land vehicle systems; command, control, communications, computer, and intelligence (C4I) systems; intelligence and cyber systems; electro-optic and countermeasure systems; electronic warfare and signal intelligence systems; and various commercial activities. It operates primarily in the defense and homeland security arenas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Elbit Systems Secures $350 Million Tank Upgrade Contract
- Contract Details: Elbit Systems has secured a four-year contract worth approximately $350 million to upgrade Main Battle Tank systems, aimed at extending their service life and enhancing battle readiness, underscoring the company's leadership in global tank modernization.
- Financial Performance: The company reported first-quarter revenue of $2.19 billion, a 15.3% increase year-over-year, with adjusted earnings per share of $3.87, reflecting a 50.6% growth, driven by a surge in demand from the Israeli Ministry of Defense due to ongoing Middle Eastern conflicts.
- Backlog Growth: This contract contributes to Elbit's record backlog of $30.2 billion, indicating strong growth potential in the defense sector, particularly in light of the current global security landscape.
- Market Sentiment: Retail investor sentiment towards Elbit Systems has shifted from 'bullish' to 'extremely bullish', with the stock gaining over 40% year-to-date, reflecting strong market confidence in the company's future performance.
See More
Trump Administration Pushes Funding for Drone Manufacturing
- Funding Initiative: The Trump administration is reportedly negotiating with the Pentagon's Office of Strategic Capital to increase funding for U.S. drone manufacturers by approximately 1,247% in fiscal 2027, which is expected to significantly enhance the competitiveness and innovation capacity of the American drone industry.
- Market Growth Potential: According to MarketsandMarkets, the global counter-unmanned aircraft system market is projected to grow from approximately $6.64 billion in 2025 to around $20.31 billion by 2030, with North America expected to lead this growth, indicating strong demand for domestic manufacturers.
- Duke Robotics Uplisting: Duke Robotics successfully completed an underwritten public offering of approximately $9.2 million on May 18, 2026, and uplisted to Nasdaq, holding the intellectual property for the IDF-deployed Bird of Prey weapon system, which is anticipated to drive future revenue growth.
- Acquisitions and Mergers: Ondas Holdings completed its acquisition of Omnisys for approximately $196.6 million, enhancing its capabilities in multi-domain defense planning, while its merger with Mistral has brought its backlog to $457 million, demonstrating strong market consolidation capabilities.
See More
Elbit Systems Secures $350M Tank Upgrade Contract
- Significant Contract Value: Elbit Systems has secured a contract valued at approximately $350 million from an international customer for Main Battle Tank upgrades, which not only enhances the company's revenue outlook but also solidifies its position in the defense market.
- System Integration Upgrades: The program includes the integration of advanced Fire Control Systems, Electric Gun & Turret Drive Systems, Communication and Situational Awareness solutions, as well as a Mid Life Upgrade package, aimed at extending the tanks' service life and enhancing combat readiness, thereby boosting the client's operational capabilities.
- Defined Execution Timeline: Under the contract, Elbit Systems will complete all upgrades over a four-year period, providing a stable revenue stream for the company and enhancing its long-term competitiveness in the defense sector.
- Strong Stock Performance: Elbit Systems' shares have risen by 43.4% year-to-date, reflecting strong market confidence in defense demand and indicating the company's resilience and potential in navigating industry challenges.
See More
Elbit Systems Secures $350 Million Tank Upgrade Contract
- Significant Contract Value: Elbit Systems has secured a contract valued at approximately $350 million from an international customer to upgrade Main Battle Tanks, expected to be completed over four years, which will significantly enhance the company's revenue and market position.
- System Modernization: The program will integrate advanced fire control systems, electric gun and turret drive systems, and communication solutions, enhancing the tanks' combat readiness and ensuring customers maintain battlefield superiority.
- Technological Innovation: The upgrades include lightweight, high-performance electro-optical sights with AI capabilities for day and night observation and target detection, further enhancing the combat effectiveness and survivability of the tanks.
- Long-term Support Assurance: The contract also covers the supply of spare parts and maintenance technical support to ensure long-term operational availability, demonstrating Elbit's leadership in the global defense market and commitment to customer needs.
See More
Elbit Systems Secures $350 Million Tank Upgrade Contract
- Significant Contract Value: Elbit Systems has secured a contract worth approximately $350 million from an international customer to upgrade Main Battle Tanks over a four-year period, indicating strong demand and competitiveness in the global defense market.
- System Modernization: The program will integrate advanced fire control systems, electric turret drive systems, and communication solutions aimed at extending the tanks' service life and enhancing combat readiness, thereby improving the operational capabilities of its customers.
- Technological Innovation: The upgrades include lightweight, high-performance electro-optical sights with AI capabilities for day and night observation, as well as advanced target detection and tracking, which significantly enhance the combat efficiency and survivability of the tanks, ensuring a decisive advantage on the battlefield.
- Long-term Support Assurance: The contract also covers the supply of spare parts and maintenance technical support to ensure long-term operational availability, reflecting Elbit Systems' commitment to customer needs and its capability to deliver comprehensive solutions in the defense sector.
See More
Elbit Systems Reports Record Backlog and Revenue Growth in Q1 2026
- Record Backlog: Elbit Systems reported a record backlog exceeding $30 billion, reaching $30.2 billion, with revenues rising 15.5% to $2.19 billion, reflecting strong market demand and improved profitability, which bolsters management's confidence in sustained growth.
- European Market Focus: CEO Bezhalel Machlis emphasized the significance of the European market, highlighting a newly signed $1.4 billion modernization contract, with Europe contributing 23% of first-quarter revenues, indicating that accelerated procurement and modernization needs are becoming a major growth engine.
- Increased Capital Expenditure: Elbit plans to raise capital expenditures to about 3% of revenue, focusing on land-domain facilities, robotics, and automation, aiming to enhance production capacity to meet rising defense demands while completing the UTACS acquisition to expand its portfolio.
- Investment in Counter-Drone Systems: Elbit's counter-UAS systems integrate radars, electro-optics, jammers, and AI-driven battle management, with R&D spending at 6.9% of revenues, demonstrating a strong alignment between technology investment and market demand, which is expected to drive future order growth.
See More
Elbit Systems Secures $350 Million Tank Upgrade Contract
- Contract Details: Elbit Systems has secured a four-year contract worth approximately $350 million to upgrade Main Battle Tank systems, aimed at extending their service life and enhancing battle readiness, underscoring the company's leadership in global tank modernization.
- Financial Performance: The company reported first-quarter revenue of $2.19 billion, a 15.3% increase year-over-year, with adjusted earnings per share of $3.87, reflecting a 50.6% growth, driven by a surge in demand from the Israeli Ministry of Defense due to ongoing Middle Eastern conflicts.
- Backlog Growth: This contract contributes to Elbit's record backlog of $30.2 billion, indicating strong growth potential in the defense sector, particularly in light of the current global security landscape.
- Market Sentiment: Retail investor sentiment towards Elbit Systems has shifted from 'bullish' to 'extremely bullish', with the stock gaining over 40% year-to-date, reflecting strong market confidence in the company's future performance.
See More
Trump Administration Pushes Funding for Drone Manufacturing
- Funding Initiative: The Trump administration is reportedly negotiating with the Pentagon's Office of Strategic Capital to increase funding for U.S. drone manufacturers by approximately 1,247% in fiscal 2027, which is expected to significantly enhance the competitiveness and innovation capacity of the American drone industry.
- Market Growth Potential: According to MarketsandMarkets, the global counter-unmanned aircraft system market is projected to grow from approximately $6.64 billion in 2025 to around $20.31 billion by 2030, with North America expected to lead this growth, indicating strong demand for domestic manufacturers.
- Duke Robotics Uplisting: Duke Robotics successfully completed an underwritten public offering of approximately $9.2 million on May 18, 2026, and uplisted to Nasdaq, holding the intellectual property for the IDF-deployed Bird of Prey weapon system, which is anticipated to drive future revenue growth.
- Acquisitions and Mergers: Ondas Holdings completed its acquisition of Omnisys for approximately $196.6 million, enhancing its capabilities in multi-domain defense planning, while its merger with Mistral has brought its backlog to $457 million, demonstrating strong market consolidation capabilities.
See More
Elbit Systems Secures $350M Tank Upgrade Contract
- Significant Contract Value: Elbit Systems has secured a contract valued at approximately $350 million from an international customer for Main Battle Tank upgrades, which not only enhances the company's revenue outlook but also solidifies its position in the defense market.
- System Integration Upgrades: The program includes the integration of advanced Fire Control Systems, Electric Gun & Turret Drive Systems, Communication and Situational Awareness solutions, as well as a Mid Life Upgrade package, aimed at extending the tanks' service life and enhancing combat readiness, thereby boosting the client's operational capabilities.
- Defined Execution Timeline: Under the contract, Elbit Systems will complete all upgrades over a four-year period, providing a stable revenue stream for the company and enhancing its long-term competitiveness in the defense sector.
- Strong Stock Performance: Elbit Systems' shares have risen by 43.4% year-to-date, reflecting strong market confidence in defense demand and indicating the company's resilience and potential in navigating industry challenges.
See More
Elbit Systems Secures $350 Million Tank Upgrade Contract
- Significant Contract Value: Elbit Systems has secured a contract valued at approximately $350 million from an international customer to upgrade Main Battle Tanks, expected to be completed over four years, which will significantly enhance the company's revenue and market position.
- System Modernization: The program will integrate advanced fire control systems, electric gun and turret drive systems, and communication solutions, enhancing the tanks' combat readiness and ensuring customers maintain battlefield superiority.
- Technological Innovation: The upgrades include lightweight, high-performance electro-optical sights with AI capabilities for day and night observation and target detection, further enhancing the combat effectiveness and survivability of the tanks.
- Long-term Support Assurance: The contract also covers the supply of spare parts and maintenance technical support to ensure long-term operational availability, demonstrating Elbit's leadership in the global defense market and commitment to customer needs.
See More
Elbit Systems Secures $350 Million Tank Upgrade Contract
- Significant Contract Value: Elbit Systems has secured a contract worth approximately $350 million from an international customer to upgrade Main Battle Tanks over a four-year period, indicating strong demand and competitiveness in the global defense market.
- System Modernization: The program will integrate advanced fire control systems, electric turret drive systems, and communication solutions aimed at extending the tanks' service life and enhancing combat readiness, thereby improving the operational capabilities of its customers.
- Technological Innovation: The upgrades include lightweight, high-performance electro-optical sights with AI capabilities for day and night observation, as well as advanced target detection and tracking, which significantly enhance the combat efficiency and survivability of the tanks, ensuring a decisive advantage on the battlefield.
- Long-term Support Assurance: The contract also covers the supply of spare parts and maintenance technical support to ensure long-term operational availability, reflecting Elbit Systems' commitment to customer needs and its capability to deliver comprehensive solutions in the defense sector.
See More
Elbit Systems Reports Record Backlog and Revenue Growth in Q1 2026
- Record Backlog: Elbit Systems reported a record backlog exceeding $30 billion, reaching $30.2 billion, with revenues rising 15.5% to $2.19 billion, reflecting strong market demand and improved profitability, which bolsters management's confidence in sustained growth.
- European Market Focus: CEO Bezhalel Machlis emphasized the significance of the European market, highlighting a newly signed $1.4 billion modernization contract, with Europe contributing 23% of first-quarter revenues, indicating that accelerated procurement and modernization needs are becoming a major growth engine.
- Increased Capital Expenditure: Elbit plans to raise capital expenditures to about 3% of revenue, focusing on land-domain facilities, robotics, and automation, aiming to enhance production capacity to meet rising defense demands while completing the UTACS acquisition to expand its portfolio.
- Investment in Counter-Drone Systems: Elbit's counter-UAS systems integrate radars, electro-optics, jammers, and AI-driven battle management, with R&D spending at 6.9% of revenues, demonstrating a strong alignment between technology investment and market demand, which is expected to drive future order growth.
See More
