Latest news with #Elbit
Mint
22-05-2025
- Business
- Mint
Israeli Defense Firm Elbit Sees More Business Coming From Europe
The head of one of Israel's biggest defense firms said Europe sales will keep growing, shrugging off calls for sanctions and trade restrictions over the war in Gaza. 'We see great business potential in Germany, the UK, Romania, Sweden and Denmark,' Bezhalel Machlis, chief executive officer of Elbit Systems, which makes rockets, drones and laser-based aerial defense systems for the Israeli army, told Bloomberg in a phone interview. With Europe under pressure to beef up defense budgets with the war in Ukraine now in its fourth year and a new military operation underway in Gaza, Elbit is among the defense companies reporting more business. Sales surged 22% in the first quarter, helped by expanding military spending globally and in Europe in particular, its second-largest market. The stock has almost doubled in value in dollar terms in the past year. In a regulatory filing this morning the company said it had raised $512 million in an overnight sale of shares. Still, with relations between Israel and European nations souring because of the assault on Gaza, there's a risk that future sales may be affected. The UK has warned it is pausing a free trade agreement talks with Israel and Spain's foreign minister has pushed for tougher action. European Officials Step Up Pressure on Israel Over Gaza War European sales make up almost 30% of total consolidated revenues for Elbit. The European Union is planning hundreds of billions of euros of military spending since the US administration made clear it would no longer be the main guarantor of Europe's safety. The latest talk around ceasefire negotiations between Russia and Ukraine isn't prompting Machlis to temper his bullish growth predictions. Regardless of the outcome, Europe will have to lift its spending, he said. 'European leaders understand that ramping up defense budgets creates deterrence,' Machlis said. 'They also realize they need to have much more independent capabilities and be less dependent on the US.' This article was generated from an automated news agency feed without modifications to text.
India Today
15-05-2025
- Business
- India Today
Pulwama terror hunt: Exclusive video shows terrorist's last call before encounter
9:10 The Sky Striker, a loitering munition drone developed by a Bangalore-based company in partnership with Elbit and Alpha Design, has gained global attention.
Indian Express
08-05-2025
- Business
- Indian Express
Imagined in Israel, built in Bengaluru, how SkyStriker suicide drones hit terror targets during Operation Sindoor
When India launched 'Operation Sindoor' in the intervening night of Tuesday and Wednesday, SkyStriker suicide drones built in Bengaluru played a crucial role in destroying terror camps in Pakistan and Pakistan-occupied Kashmir (PoK). Defence sources in Delhi confirmed that Skystriker suicide drones were used in the operation. Bengaluru-headquartered Alpha Design Technologies, in partnership with Israel's Elbit Systems, manufactured the drones in Bengaluru. Adani Defence Systems and Technologies Limited has a 26 per cent stake in Alpha Design Technologies. Speaking to The Indian Express, Colonel (retd) H S Shankar, Chief Managing Director, Alpha Design Technologies, said the Ministry of Defence has asked him not to speak to the media. Incidentally, H S Shankar, who has served in Bharat Electronics Limited (BEL) before, was the project director when Electronic Voting Machines (EVMs) were designed. According to the sources, the Indian Army had placed an order for 100 SkyStrikers in 2021, and the SkyStriker drone was also exhibited during the Aero India expo that year. However, the defence forces have not disclosed the number of SkyStrikers used for Operation Sindoor. Elbit, which conceptualised the SkyStriker drone, has mentioned on its website that the unmanned aircraft system is capable of carrying out long-range, precise tactical strikes. The SkyStriker suicide drone can carry a warhead of up to 10 kg. Elbit states, 'As a silent, invisible, and surprise attacker, SkyStriker delivers the utmost in precision and reliability, providing a critical advantage in the modern battlefield. SkyStriker provides manoeuvrable troops and Special Forces with direct-fire aerial-precision capabilities, enhancing situational awareness and survivability.'
India Today
08-05-2025
- Business
- India Today
Kamikaze ‘suicide' drone maker's stock jumps after ‘Operation Sindoor'. Details here
Shares of Israeli defence firm Elbit Systems surged this week following reports that India used SkyStriker kamikaze drones—co-developed with Adani Group's Alpha Design Technologies—in its recent cross-border strikes dubbed Operation on the NASDAQ under the ticker ESLT, Elbit's stock rose 3.62% over two sessions, jumping from $400.00 on May 6 to $414.47 by May 8. The rally coincided with the precision missile and drone strikes carried out by Indian forces across Pakistan and Pakistan-occupied Kashmir. This marked the SkyStriker's most prominent known use in active SkyStriker is a loitering munition, often called a "suicide drone," designed for pinpoint strikes with minimal collateral damage. It can stay airborne for up to two hours, strike with a 5 kg or 10 kg warhead, and can be recalled or re-engaged within seconds of impact. Its silent electric engine allows it to fly deep into enemy territory undetected—critical for missions demanding stealth and built by Elbit in Israel and adapted to Indian requirements under the Make in India initiative, the drone is manufactured in Bengaluru at a facility operated by Alpha Design Technologies, now part of Adani ordered over 100 units of the SkyStriker in 2021, following the Balakot airstrikes, but Operation Sindoor represents its most decisive battlefield deployment so officials have hailed the drones as effective in eliminating terrorist infrastructure while reducing risk to Indian personnel. Analysts say the real-time coordination and surgical precision offered by SkyStrikers made them a key component of the strike market's reaction reflects both the strategic importance of the weapon system and its growing commercial relevance. As defence procurement increasingly favours indigenous or joint-venture products, companies like Adani Defence and Elbit Systems are well-positioned to Watch
Yahoo
03-04-2025
- Business
- Yahoo
Duke Robotics Provides Update on Progress with Elbit Systems Regarding 'Birds of Prey' Stabilized Weapons Drone System
FT. LAUDERDALE, FL, April 03, 2025 (GLOBE NEWSWIRE) -- Duke Robotics Corp. (OTCQB: DUKR) ("Duke Robotics" or the "Company"), a leader in advanced robotics technology and autonomous drone solutions, today provided an update regarding developments in its collaboration with Elbit Systems ("Elbit") relating to its stabilized weapons drone system technology and Duke Robotics' TIKAD. Since the Company's original Collaboration Agreement with Elbit, announced in February 2021 ('Agreement'), Elbit has made significant progress and has been marketing and deploying the system with customers under the brand name 'Birds of Prey'. The stabilized weapons drone system features proprietary technology that enables precise remote operations via an unmanned aerial platform, designed to enhance military operational capabilities while minimizing risk to personnel with no boots on the ground. Building on these positive developments, the companies have agreed to expand their collaboration according to the Agreement to allow Duke Robotics to market this innovative system to military, defense, home-land security and para-military customers, in coordination with Elbit. Duke Robotics will be entitled to a commission fee, in the mid-single figure percentage range, from transactions resulting from its marketing activities, in addition to the royalties it is entitled to as part of the original Duke Robotics Robotics Corp. (formerly known as UAS Drone Corp) is a forward-thinking company focused on bringing advanced stabilization and autonomous solutions to both military and civilian sectors. Through its wholly owned subsidiary, Duke Robotics Ltd., the company developed TIKAD, an advanced robotic system that enables remote, real-time, and accurate firing of lightweight firearms and weaponry via an unmanned aerial platform (UAV) designed to meet the growing demand for tech solutions in modern warfare. Duke Robotics Ltd. Also developed the IC Drone, a first-of-its-kind robotic, drone-enabled system for cleaning electric utility insulators. The unique system, based on the Company's advanced intellectual property and know-how, integrates algorithms, autonomous systems, and robotic technologies used in mission-critical applications. For more information about Duke Robotics Corp (Previously UAS Drone Corp) please visit or view documents filed with the Securities and Exchange Commission at Forward-Looking StatementsThis press release contains forward-looking statements. Words such as "future" and similar expressions, or future or conditional verbs such as "will," are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs, assumptions, and information currently available to us. For example, we are using forward-looking statements when we discuss the expanded collaboration with Elbit and the benefits we may realize as a result of the expanded Agreement. Our actual results may differ materially from those expressed or implied due to known or unknown risks and uncertainties. These include, but are not limited to, risks related to the successful implementation of our marketing activities, continued development and adoption of our products, our ability to effectively collaborate with Elbit Systems, fluctuations in foreign currency exchange rates, operational challenges associated with marketing activities in new markets, geopolitical factors that could impact defense business operations, regulatory challenges in various regions, and competition from technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and any subsequent filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by Contact:Duke Robotics Corp. Yossef Balucka, CEO invest@ Capital Markets & IR:ARX | Capital Markets Advisors North American Equities Desk DUKE@ in to access your portfolio
