Elbit Systems (NASDAQ:ESLT) has been awarded a contract valued at approximately $750 million (€650 million) to supply its Precise & Universal Launching System (PULS) rocket artillery to the Hellenic Armed Forces, marking a major expansion of the company’s presence in the European defense market.
The agreement outlines a comprehensive modernization of Greece's long-range fires capabilities, with the initial contract performance scheduled over a four-year period.
Following the initial delivery, the deal includes an extensive 10-year follow-on support phase, ensuring a long-term operational partnership between the Haifa-based defense contractor and the Greek military.
Under the terms of the deal, Elbit Systems will provide a sophisticated technological package that encompasses high-mobility launchers and a comprehensive munitions suite.
The package includes training rockets, precision-guided rockets, and advanced loitering munitions, providing the Hellenic Armed Forces with a multi-layered strike capability.
A significant component of the contract involves collaboration with local Greek industry, including the transfer of technology and technical know-how to domestic partners.
The PULS system is designed as an autonomous artillery solution that can fire a wide range of unguided and precision-guided rockets, as well as missiles, with ranges reaching up to 300km.
Its open-architecture design allows for integration onto various wheeled and tracked platforms, a feature that has increasingly appealed to NATO members seeking versatile and interoperable defense solutions.