Elbit Systems' subsidiary, Elop, to provide naval and aerial payloads valued at approximately $15M(Haifa, Israel, July 10, 2006) -- Elbit Systems Ltd. (NASDAQ: ESLT) announced that its subsidiary Elbit Systems Electro-Optics Elop Ltd. ("Elop"), was awarded several new contracts to supply advanced CoMPASS payloads for naval and aerial use, valued at approximately $15 million.
The new contracts include the supply of payloads for naval use for a customer in the Far East and for a NATO member customer, as well as an order for UAV and combat aircraft payloads in Eastern Europe.
The Global Military Electro Optical Infrared (EO/IR) Systems Market 2015-2025
As previously reported, Elop was selected to supply the advanced surveillance systems for the prestigious UK MoD WATCHKEEPER UAV project. In this project, Elop will provide the most advanced version of its innovative family of surveillance systems, CoMPASS.
Elop's General Manager, Mr. Haim Rousso said: "Recently we noted a substantial increase in demand for payloads designed for naval applications. Elop's unique payload solutions combined with its ability to meet the specific requirements of each customer, further establishes our leading position in the field of electro-optic systems in general and in the payload market in specific. Mr. Rousso further said: "The recent orders reaffirm our customers' trust in our combat experience and the technological quality of our systems, and we look forward to further business success in this market."
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Source : Elbit Systems