ELBIT SYSTEMS Business Summary

Elbit Systems Ltd (ESLT) is a global defense technology powerhouse that generates revenue through the design, manufacture, and long-term maintenance of advanced systems for land, air, and naval applications. The company operates primarily as a prime contractor or high-tier subcontractor, securing large-scale government contracts and modernization programs across five core segments: Aerospace, Land, ISTAR & EW (Intelligence, Surveillance, Target Acquisition, and Reconnaissance & Electronic Warfare), C4I & Cyber, and its dedicated U.S. subsidiary, Elbit Systems of America. As of February 2026, the company maintains a record order backlog exceeding $25 billion, driven by a global defense spending supercycle and high demand for its PULS rocket launchers, Hermes UAVs, and electronic warfare suites. Elbit competes directly with Tier-1 defense primes such as Northrop Grumman, BAE Systems, and Thales, positioning itself as a specialized leader in defense electronics and autonomous systems with a more agile, technology-first approach compared to traditional heavy-platform manufacturers. Founded in 1966 by Israeli tech pioneer Uzia Galil as a joint venture between Elron Electronic Industries and the Israeli Ministry of Defense, the company is currently led by President and CEO Bezhalel (Butzi) Machlis, a former IDF artillery officer with a background in mechanical engineering and computer science from the Technion. The executive team includes EVP and CTO Yehoshua Yehuda, who spearheads strategic innovation, and EVP and CFO Dr. Yaacov Kagan, a former Israeli Navy captain who oversees the firm’s robust financial expansion. The company is significantly influenced by the Federmann family, with David Federmann serving as Chair of the Board and Federmann Enterprises Ltd holding a dominant stake of approximately 42%. Other notable board members include former Israeli Minister Tzipi Livni and retired Major General Ehud Adam, while institutional backing is provided by major entities such as Vanguard Group and Clal Insurance.