Israel's defense industries have been operating in an unprecedented emergency mode since the war began in October, significantly ramping up round-the-clock production. This heightened urgency is fueled by a global shortage of armaments, fears of an arms embargo on Israel, and concerns about a possible expansion of the conflict.
The surge of orders flooding Elbit Systems, driven by ongoing conflicts in Israel and Ukraine, underscores the strategic advantage Elbit gained with its 2018 acquisition of IMI Systems from the state.
Currently, Elbit is working tirelessly to supply the IDF with tank shells, artillery, mortar bombs, and various other armaments, while billions of dollars pour into the company. In the second quarter alone, Elbit saw a 12% increase in revenues, reaching $1.162 billion, with a record backlog of $21 billion.
In recent months, the Ministry of Defense has awarded Elbit contracts totaling approximately 4.5 billion shekels for relatively simple armaments. Just a week and a half ago, Elbit announced another rocket order from an unspecified country worth $270 million. Additionally, at the end of last month, the Ministry of Defense placed an order with Elbit for mortar bombs valued at approximately $190 million.
* Calcalist has contributed to this article.