Elbit Systems Pockets $55M Contract To Provide Drone Solutions

Elbit Systems Ltd ESLT has secured a contract worth approximately $55 million to supply multi-layered ReDrone Counter Unmanned Aerial Systems (C-UAS) to the Netherlands.

Under the contract, Elbit Systems will supply several mobile, stationary and deployed configurations of the ReDrone integrated Counter-UAS solution along with a logistic support package and training.

The ReDrone system provides functionalities that enable it to rapidly detect and locate multiple drones simultaneously within the protected area.

The contract will be executed over a period of four years.

"The growing threat of drones creates an increasing demand for our Counter UAS solutions," said Oren Sabag, General Manager of Elbit Systems ISTAR & EW.

Price Action: ESLT shares closed lower by 0.12% at $201.11 on Friday.