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.

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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.