Elbit Systems Ltd. (NASDAQ: ESLT, TASE: ESLT) (“Elbit Systems”) announced today that it was awarded contracts in an aggregate amount of approximately $74 million from the Defense Acquisition Program Administration of the Ministry of National Defense of the Republic of South Korea, to supply a range of airborne munitions as part of the Precision Fires Program of the Republic of Korea Air Force. The contracts will be performed over a five-year period.

Yehuda (Udi) Vered, General Manager of Elbit Systems Land, said: “We see an increase in the demand for our diverse portfolio of munitions as Air Forces seek fires capabilities of greater sophistication and impact.”

About two weeks ago, Korean company Hanwha Systems reported that it is collaborating with Elbit Systems on AI powered avionic technologies for Urban Air Mobility and defence applications.

About two weeks ago, Korean company Hanwha Systems reported that it is collaborating with Elbit Systems on AI powered avionic technologies for Urban Air Mobility and defence applications.

In recent years Elbit Systems signed several contract with the Republic of South Korea, among them to embedding Terrain Following-Terrain Avoidance systems onboard the Next Generation Korean fighter jets that are in development; integrating Joint Helmet Mounted Cueing System II helmet-mounted displays into Republic of Korea Air Forces’ F-16 aircraft; and the delivery of a full end-to-end Underwater Sound Source System used to test sonar systems for the Republic of Korea’s Navy Harbor Underwater Surveillance System.

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, 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.