“India, as one of the world’s fastest growing nations, opens many opportunities for us, in which we can offer our advanced, proven technologies.” Joseph Ackerman President and CEO of Elbit Systems told Defense-Update. Elbit Systems, Israel’s largest defense company is a private holding company publicly traded in New York (NASDAQ) and Tel Aviv stock exchanges has entered the main weapons platforms market as a prime contractor. Its current backlog has grown to more than $5.3 billion in 2010.
India, considered as a major growing market for Elbit Systems, and according to Ackerman, the company intends to broaden its operations here by expanding existing partnerships and, where applicable, establish new partnerships and joint ventures, addressing specific opportunities.
“Elbit Systems has established the ‘multi-domestic’ operational conduct, enabling the company to perform as an international conglomerate, while focusing its operations on strategic local markets, through dedicated local business entities formed to meet the specific regulations of each of our strategic markets.” Ackerman explains. These business formations are responsible in developing the long term growth-strategy in their market. In parallel, they operate through partnerships with local companies, domestic contractors and subcontractors. “This is our common operational policy, in all our strategic markets, and India being no exception” Ackerman said, indicating that “the local partnership HALBIT we established with Hindustan Aeronautics Ltd (HAL) is already operating successfully for several years.” Ackerman said, “as our activities in India expand we intend to add more co-operations here” he added.
One of the areas for future cooperation with local enterprises is Unmanned Aerial Systems (UAS). We are offering our comprehensive line of unmanned aerial systems, ranging from the new Hermes 900 Medium-Altitude Long Endurance (MALE) system and to the combat proven, compact, man-portable Skylark 1LE, which can be operated on military, paramilitary and civilian applications.