Elbit Systems received a first order worth $180 million tactical drone systems to Romania

Elbit Systems continues to increase its order backlog. Elbit Systems received a first order worth $180 million to supply the first three systems out of up to seven "Watchkeeper X" type tactical drone systems, as part of the framework agreement with the Romanian Ministry of Defense with a maximum ceiling amount of approximately $410 million. The order will be carried out over a period of two years.
As part of the order, Elbit Systems, which is managed by Bezalel Machlis, will supply upgraded WatchKeeper X tactical UAV systems with advanced capabilities that include Spectro XR multi-spectral electro-optical cameras with new communication capabilities. This is a tactical UAV system with two electro-optical cameras of the type Watchkeeper X. The system is the British Army's export version, manufactured by U-TacS, which is a company equally owned by Elbit Systems and the French defense company Thales, and is a derivative of the Hermes family of UAV systems. The fact that Watchkeeper X complies with NATO standards Enables the Romanian military to conduct vital joint operations with NATO and other allies.
Elbit Systems' order backlog at the end of the first quarter of 2023 grew to $15.8 billion, compared to $15.1 billion at the end of 2022, so the ratio between orders and sales increased in the first quarter of 2023 to 1.5 compared to 1.25 in the fourth quarter of 2022. Growth In this regard, it is an indication of the acceleration of growth in the second half of 2023.
The main reason for the increase in the backlog of orders and the 5% growth (after deducting the sale of the subsidiary Shasot in 2022 to the Fimi Fund) in the revenues of Elbit Systems in the past quarter to 1.4 billion dollars was the war in Ukraine, which triggered a sharp increase in defense budgets in Europe and the rapid process of equipping. The revenues of Elbit Systems in Europe grew by 45% in the first quarter of 2023 compared to the corresponding quarter in 2022 and amounted to 369 million dollars. This is thanks to the increase in sales of drones, command and control systems, precision weaponry and training systems.