Elbit Systems is an Israeli defense electronics and systems company that develops and sells advanced military technology across air, land, sea, and cyber domains. Rather than building large platforms like ships or fighter jets, Elbit acts as a systems integrator and technology developer — supplying the sensors, electronics, munitions, and software that make those platforms effective. Elbit's core products include unmanned aerial systems (UAS) like the Hermes 900 drone, precision-guided munitions and artillery systems like the PULS rocket launcher, electronic warfare and self-protection systems (including directed infrared countermeasure systems embedded across many Western aircraft), electro-optics and high-power laser technology, C4ISR and communications software, and armored vehicle systems including the Iron Fist Active Protection System. Elbit's primary customers are governments and militaries, with Israel (~32% of revenue), North America (~21%), and Europe (~27%) as its key markets. Elbit wins multi-year government contracts and recognizes revenue as milestones, deliverables, or progress are achieved. Elbit manages its international business through roughly 40 subsidiaries worldwide, enabling it to meet local industrial participation requirements that governments increasingly demand. Backlog stood at $25.2B as of Q3 2025, up from ~$17.8B at end of 2023, driven by wartime Israeli demand and rising European defense budgets.