In an highly challenging period for Israel’s defense companies, Elbit Systems (TASE: ELST; Nasdaq: ELST) has announced the award of a contract worth $120 million for the supply of its Hermes 900 Unmanned Aerial System (UAS) for long-range maritime surveillance to an international customer.
The Hermes 900 multi-role MALE (Medium Altitude Long Endurance) UAS is Elbit Systems’ largest unmanned aerial vehicle. It is designed to perform a wide range of missions including area dominance and persistent intelligence, surveillance, target acquisition and reconnaissance (ISTAR) across both land and maritime domains. According to the company, since its first order in 2011, the Hermes 900 has been selected by over 20 customers worldwide.
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The current contract follows cancellations of several deals with Israel defense companies by the Spanish government recently. Two weeks ago, Spain announced the cancellation of a €207 million with Rafael for the company’s Lightning 5 targeting pod systems for installation in its Eurofighter Typhoon aircraft. Shortly before that, Spain cancelled a €700 million order for Elbit Systems’ PULS artillery system. €150 million of that order was for Elbit Systems itself. And in June, the Spanish Ministry of Defense announced the suspension of a €285 million order for Rafael’s Spike LR2 anti-tank missile, signed with Rafael’s Spanish unit PAP Tecnos in October last year. The cancellations represent an effort by the Spanish government to reduce to zero the country’s dependence on Israeli technology, because of the war in the Gaza Strip.
Elbit Systems’ latest contract reflects the gap in many countries between diplomatic and political considerations, and military considerations which dictate the procurement of the best proven products. In a ranking published by the “Defense Post” website in June, of the 100 largest companies in UAVs, eight are Israeli, putting Israel second in the world behind the US. Elbit Systems was ranked fifth, ahead of companies such as BAE of the UK, Leonardo of Italy, Lockheed Martin of the US, and Rheinmetall of Germany.
Published by Globes, Israel business news – en.globes.co.il – on September 29, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
