Elbit Systems

The Ministry of Defence selected the Portuguese-built Tekever AR5 to replace Watchkeeper, with up to GBP 400 million over the next decade, an initial order of six aircraft and a target fleet of up to 24 by 2029, and a production facility in Swindon. Records that in November 2024 the Ministry cancelled plans to acquire 46 further Watchkeeper airframes and that a Defence Staff official described the system as no longer fit for operational purpose. Watchkeeper was built by U-TacS, the joint venture of Thales UK and Elbit Systems.

Contracts to Elbit's US subsidiary for border surveillance capability, with work running through May 2029. The same technology lineage Elbit markets on the strength of its deployment along Israel's perimeter around Gaza and the separation wall.

Revenue $2.19 billion against $1.90 billion in Q1 2025; Israel $817.9 million (37.4%). GAAP net income $160.8 million against $107.1 million. Record order backlog of $30.2 billion, approximately 71% attributable to customers outside Israel, roughly 49% scheduled for delivery across the remainder of 2026 and 2027. Bezhalel Machlis is quoted as president and chief executive officer and Dr Yaacov (Kobi) Kagan as executive vice president and chief financial officer.

Multi-year orders for the supply of advanced airborne munitions to the Israel Ministry of Defence, announced by the company. The Israeli Ministry of Defence published its own notice of the procurement on 23 April 2026, valuing it at over $200 million.

Greece becomes one of Elbit's largest named European customers. Announced two weeks before the Israeli Ministry of Defence munitions award, and an illustration of the European rearmament demand that has replaced the contracts Elbit lost in the UK.

The company's own report. 2025 revenue of $7,938.6 million, up 16.3%; Israel $2,556.4 million (32.2%), Europe $2,139.5 million (27.0%), North America $1,659.3 million (20.9%), Asia-Pacific $1,243.7 million (15.7%). GAAP net income $534.3 million, non-GAAP $598.0 million. Order backlog $28.1 billion at 31 December 2025, up $5.5 billion year on year, approximately 72% international. Dividend $1.00 per share. States that 'since the commencement of the war and the escalation of conflicts in the Middle East, Elbit Systems has experienced a continued material increase in the demand for its products and solutions from the Israel Ministry of Defense (IMOD) compared to the demand levels prior to the war'.

The Public Interest Law Centre, supported by Campaign Against Arms Trade, filed a complaint with the Metropolitan Police war crimes unit on behalf of a Palestinian national living in the UK, asking it to investigate four current and former British directors of Elbit Systems UK Ltd for potential complicity in war crimes, crimes against humanity and genocide under the International Criminal Court Act 2001. The complaint cites ICJ findings, UN special procedures, Amnesty International and Human Rights Watch documentation, and investigative journalism on UK export licences. No charges have been brought.

1832 Asset Management, Scotiabank's fund arm and formerly one of Elbit's largest foreign institutional shareholders with over 2.2 million shares, holds zero shares in the company as of its most recent filings. Reuters and The Globe and Mail reported the sale on the same day. The exit followed a multi-year campaign that began in 2023; Scotiabank had said in 2024 that protests did not influence its earlier reductions.

Allianz ended its general insurance cover for Elbit Systems on 1 November 2025, and Aviva ended employers' liability cover for UAV Engines Ltd, an Elbit subsidiary, on 7 September 2025. Aspen Insurance now provides employers' liability cover for Elbit Systems UK and Chubb covers UAV Engines. Allianz did not respond to requests for comment and Aviva declined to comment. The cover was replaced, not lost.

A whistleblower dossier submitted in February 2025 raised concerns about Elbit Systems UK's conduct during its bid for the British Army's GBP 2 billion collective training contract, alleging a breach of business appointment rules at a meeting attended by a recently retired senior army officer, that a Ministry of Defence civil servant accepted seven dinners from Elbit and none from rival bidder Raytheon, and a Jerusalem tour. The Ministry did not examine the dossier for seven months, attributing the delay to administrative oversight; a September review found no rule violations. The article also records Elbit's suspension by NATO from bidding for new tenders.

The NATO Support and Procurement Agency suspended Elbit Systems and its subsidiary Orion Advanced Systems from bidding, while the Belgian Federal Public Prosecutor's Office and Luxembourg authorities investigate alleged bribery of NSPA staff by defence suppliers. An Italian consultant said to have worked for Elbit is wanted on an Interpol warrant issued on 30 September. Elbit is not itself under investigation and said: 'We have not been withdrawn or suspended from any NATO program, and no NSPA project has been stopped.'

Elbit Systems is one of the 104 businesses screened. DBIO V identifies 1,115 European financial institutions with relationships to those 104 businesses, USD 310 billion in loans and underwriting between January 2023 and August 2025, and USD 1,503 billion in shares and bonds held at 31 August 2025. Research by Profundo; foreword by Francesca Albanese.

Names Elbit Systems among fifteen companies, alongside Boeing, Lockheed Martin, Rafael, IAI, Palantir and others. Calls on those companies to halt weapons, military equipment, surveillance technology and related services to Israel, on states to bar them from government contracts, trade shows and research grants, and for responsible divestment. Index POL 40/0289/2025.

The Commission concluded that Israel has committed genocide against Palestinians in the Gaza Strip, finding that four of the five acts of genocide defined in the Genocide Convention were committed. The finding is confined to Gaza.

Names Elbit Systems first among the arms and military manufacturing entities examined. Finds at paragraph 89 that 'arms companies have turned over near record profits by equipping Israel with cutting-edge weaponry that has devastated a virtually defenceless civilian population', and recommends at paragraph 95 that corporate entities 'promptly cease all business activities and terminate relationships directly linked with, contributing to and causing human rights violations and international crimes against the Palestinian people'.

Places Elbit on the BDS Divestment Shortlist under the Occupations screen, tagged Gaza Genocide, Wall and Checkpoints in Palestine, and Weapons and Military Equipment. Records that Elbit supplies the Israeli military with weapons used in attacks on Palestinians, provides surveillance systems for the separation wall, and is a major US Customs and Border Protection contractor deploying surveillance towers along the US-Mexico border. Lists prior exclusions by Australia's Future Fund (March 2022), KLP (2021), HSBC (December 2018), SEB (June 2017) and the Norwegian government pension fund (2009). Page valid as of 3 October 2024.

The International Court of Justice found Israel's continued presence in the occupied Palestinian territory unlawful and set out obligations on states in relation to trade and dealings with the occupation. The legal framework on which institutional exclusion and procurement decisions rest.

Norway's Government Pension Fund Global excluded Elbit Systems on 3 September 2009 under the criterion 'other particularly serious violations of fundamental ethical norms', on the basis of its supply of surveillance systems for the separation wall. Verified as still in force on the live exclusion list in August 2026. Note that the Norwegian Government has appointed a committee to review the ethical framework, reporting by 15 October 2026, and that under temporary guidelines Norges Bank cannot make new exclusion decisions but may revoke existing ones.

Investigates six Israeli drone-launched missile strikes in Gaza during the assault of December 2008 to January 2009 that killed 29 Palestinian civilians, eight of them children, including nine students waiting for a UN bus outside the Gaza Technical College and children playing on rooftops. The blast patterns, crater analysis and tungsten cube fragments recovered at impact sites identified the munition, the Rafael Spike missile. The report identifies the two Israeli drone types then carrying Spike missiles as 'the Hermes, produced by the Israeli company Elbit Systems Ltd., and the Heron, produced by Israeli Aerospace Industries', and does not attribute any individual strike to a particular platform. Concludes that operators failed to take all feasible precautions to verify that targets were combatants.