Elbit Systems

Lore & Background

Elbit Systems was founded in 1966 by Elron Electronic Industries and Israel's Ministry of Defense under the name 'Elbit Computers Ltd.' to develop computers and electronics for the Israeli military. Its first product was a minicomputer named 'Elbit 100,' which was successfully sold for civilian use. In 1970, Control Data Corporation acquired the Israeli government's interest in the company. After an IPO on the Tel Aviv Stock Exchange in 1978, the company refocused on defense electronics in the early 1980s, developing systems for the Lavi fighter jet and Merkava tank. In 1996, Elbit was spun off into three independent companies, with Elbit Systems becoming the defense electronics arm. In 2000, Elbit Systems merged with El-Op, creating the largest non-governmental defense electronics company in Israel. The company has since acquired several firms, including Elisra, assets of Israel Military Industries' Aircraft Systems Division, and IMI Systems in 2018. Elbit Systems has subsidiary factories around the world, particularly in the United Kingdom, the United States, and Germany, where it has faced protests for its support of the Israeli military in the ongoing Israeli–Palestinian conflict. The company has also been divested from by international investment firms due to its involvement in the conflict.

Reader's Guide

Elbit Systems is notable as the largest Israeli military manufacturer, producing 85% of the Israel Defense Force's land-based equipment and 85% of the drones used by the Israeli Air Force. The company's equipment has been battle-tested by the IDF in operations in Gaza and the West Bank, and its drones have been involved in multiple incidents involving civilian deaths. A 2016 report by The Intercept suggested that Israel has used attack drones in fatal attacks, and that the US National Security Agency and UK GCHQ had been tapping into live feeds from Elbit drones since 2008. In 2024, an Elbit Hermes 450 drone was used in the World Central Kitchen aid convoy attack that killed seven aid workers. The company operates globally, with revenues from Israel (32%), North America (21%), Europe (27%), Asia-Pacific (16%), and Latin America and other (4%). Its American subsidiary, Elbit Systems of America, operates under a special security agreement with a proxy board. Elbit's shares are traded on the Tel Aviv and Nasdaq stock exchanges.

Did You Know?

• Elbit Systems was originally founded as 'Elbit Computers Ltd.' in 1966 to develop computers and electronics for the Israeli military.
• Elbit Systems' shares are traded on both the Tel Aviv and Nasdaq stock exchanges.