Elbit Awarded $43 M Contract to Equip Next-gen Korean Fighter Jets in Development With TF/TA Systems

Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that it was awarded a $43 million contract from Hanwha Systems Co. Ltd. (272210:Korea SE) to equip the Next Generation Korean fighter jets in development, with embedded Terrain Following-Terrain Avoidance (TF/TA) systems. The contract will be performed over a six-year period.

Embedding Elbit Systems' TF/TA solution enables fighter jets to fly and maneuver safely at low-altitudes, in zero visibility and harsh weather conditions (Instrument Meteorological Conditions), thereby enhancing their capability to operate undetected in hostile territory. Interfacing with the autopilot system, the TF/TA system to be supplied fuses data from a range of onboard sensors and a digital terrain elevation data base, together with flight performance characteristics, enabling the aircraft to maintain optimal altitude throughout the mission.

Yoram Shmuely, Executive Vice President and General Manager of Elbit Systems Aerospace Division, said: "We are proud to be in a position to increase the capabilities of Air Forces through joint development with Hanwha Systems Co. Ltd.".