Elbit Systems Ltd. (ESLT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo de la tecnología de defensa de alto riesgo, Elbit Systems Ltd. (ESLT) surge como una potencia global, transformando desafíos militares y aeroespaciales complejos en soluciones innovadoras que redefinen las capacidades tecnológicas. Al combinar a la perfección la investigación de vanguardia, las asociaciones estratégicas e ingeniería avanzada, este gigante de la tecnología de defensa israelí se ha posicionado como un jugador crítico en seguridad nacional, seguridad cibernética e innovación tecnológica en los mercados internacionales. Su lienzo de modelo de negocio revela un plano sofisticado de cómo opera una empresa de tecnología de defensa moderna, navegando estratégicamente el intrincado panorama de seguridad global y avance tecnológico.

Elbit Systems Ltd. (ESLT) - Modelo de negocios: asociaciones clave

Colaboración estratégica con los fabricantes de defensa y aeroespacial

Elbit Systems mantiene asociaciones críticas con los principales fabricantes de defensa:

Empresa asociada	Enfoque de colaboración	Año establecido
Boeing	Integración de sistemas aeroespaciales	2018
Lockheed Martin	Tecnologías de vehículos aéreos no tripulados	2015
Northrop Grumman	Sistemas de guerra electrónica	2016

Empresas conjuntas con empresas internacionales de tecnología

Elbit Systems ha establecido empresas conjuntas estratégicas de tecnología internacional:

• Elbit Systems India Private Limited: empresa conjunta valorada en $ 42 millones
• Elbit Systems Latin America Partnership - Ingresos anuales estimados de $ 87 millones
• Elbit Systems Europe Collaboration: generando 65 millones de euros en intercambios de tecnología

Asociaciones con departamentos de defensa gubernamental en todo el mundo

País	Departamento de defensa	Valor de contrato	Año
Estados Unidos	Departamento de Defensa de los Estados Unidos	$ 624 millones	2023
Israel	Fuerzas de Defensa de Israel	$ 412 millones	2023
Reino Unido	Ministerio de Defensa del Reino Unido	£ 276 millones	2022

Alianzas de investigación y desarrollo con instituciones académicas

Elbit Systems colabora con los principales centros de investigación académica:

• Technion Israel Institute of Technology - Inversión en I + D de $ 18.5 millones
• Universidad de Ben -Gurion - Presupuesto de colaboración de investigación anual de $ 7.2 millones
• Instituto de Tecnología de Massachusetts (MIT) - Asociación de transferencia de tecnología valorada en $ 12.3 millones

Elbit Systems Ltd. (ESLT) - Modelo de negocio: actividades clave

Diseño y fabricación de tecnología de defensa avanzada

Inversión anual de I + D: $ 343.5 millones en 2022

Categoría de tecnología	Volumen de producción anual
Sistemas electroópticos	Más de 15,000 unidades anualmente
Miras de arma	Aproximadamente 8,500 sistemas por año

Desarrollo de sistemas aeroespaciales militares y comerciales

Contratos totales del sistema aeroespacial: $ 1.2 mil millones en 2022

• Actualizaciones de aviónica de aviones militares
• Sistemas de vehículos aéreos no tripulados (UAV)
• Tecnologías de navegación de aviación comercial

Desarrollo de soluciones de ciberseguridad

Ingresos del segmento de ciberseguridad: $ 276 millones en 2022

Tipo de solución de ciberseguridad	Penetración del mercado
Plataformas de defensa cibernética	Desplegado en 17 países
Sistemas de comunicación seguros	Más de 50 clientes militares y gubernamentales

Sistemas no tripulados e innovación en tecnología de guerra electrónica

Inversión de I + D de sistemas no tripulados: $ 127.6 millones en 2022

• Producción de la serie Hermes Drone
• Desarrollo del sistema de guerra electrónica
• Tecnologías de contra-drone

Soluciones integradas de entrenamiento y simulación

Soluciones de capacitación Ingresos anuales: $ 215 millones en 2022

Plataforma de simulación	Despliegue global
Simuladores de entrenamiento táctico	Utilizado en 22 países
Sistemas de entrenamiento de vuelo	Instalado en 15 fuerzas aéreas en todo el mundo

Elbit Systems Ltd. (ESLT) - Modelo de negocio: recursos clave

Fuerza laboral técnica y de ingeniería altamente calificada

A partir de 2023, Elbit Systems empleó a 13,900 trabajadores a nivel mundial. Desglose de la fuerza laboral:

Categoría	Número de empleados
Ingenieros	6,850
Profesionales técnicos	4,350
Investigar científicos	1,200

Instalaciones de I + D avanzadas y centros de investigación

Elbit Systems mantiene instalaciones de I + D en múltiples ubicaciones:

• Haifa, Israel (sede)
• Beer Sheva, Israel
• Nueva York, Estados Unidos
• Karmiel, Israel

Tecnología de defensa patentada y propiedad intelectual

Estadísticas de cartera de patentes:

Categoría de patente	Número de patentes activas
Tecnologías de defensa	387
Electroóptico	156
Soluciones cibernéticas	92

Infraestructura global de fabricación y producción

Instalaciones de fabricación a través de:

• Israel (5 instalaciones)
• Estados Unidos (3 instalaciones)
• Europa (2 instalaciones)

Extensa cartera de patentes de defensa y tecnología

Inversión anual de I + D: $ 535 millones en 2023, que representa el 11.2% de los ingresos totales.

Métricas de inversión de I + D	Valor
Gastos totales de I + D	$ 535 millones
Porcentaje de ingresos	11.2%
Nuevas solicitudes de patentes (2023)	48

Elbit Systems Ltd. (ESLT) - Modelo de negocio: propuestas de valor

Soluciones de defensa y tecnología de vanguardia

Elbit Systems reportó ingresos anuales de $ 4.9 mil millones en 2022. Las soluciones de tecnología de defensa representaron aproximadamente el 82% de los ingresos totales.

Categoría de tecnología	Contribución de ingresos
Sistemas terrestres	$ 1.45 mil millones
Sistemas aeroespaciales	$ 1.23 mil millones
Soluciones cibernéticas	$ 680 millones

Sistemas aeroespaciales militares y comerciales avanzados

Los sistemas aeroespaciales representaban el 25.1% de la cartera empresarial total de Elbit en 2022.

• Desarrolló más de 350 plataformas de tecnología aeroespacial
• Sistemas suministrados a 75 países en todo el mundo
• Mantuvo la participación de mercado del 85% en segmentos de aviónica militar específicos

Capacidades integrales de ciberseguridad y guerra electrónica

El segmento de ciberseguridad generó $ 680 millones en 2022, con 12.5% ​​de crecimiento año tras año.

Segmento de ciberseguridad	Métricas de rendimiento
Inversiones totales	$ 124 millones
Gasto de I + D	$ 98 millones
Contratos globales de ciberseguridad	37 contratos activos

Soluciones tecnológicas personalizadas para mercados militares y civiles

Elbit Systems entregó soluciones personalizadas en 42 países en 2022.

• Cuota de mercado militar: 68%
• Cuota de mercado civil: 32%
• Contratos de soluciones personalizadas totales: 124

Sistemas no tripulados de alto rendimiento y plataformas de inteligencia

El segmento de sistemas no tripulados generó $ 562 millones en ingresos durante 2022.

Categoría de sistemas no tripulados	Datos de rendimiento
Sistemas de tierra no tripulados	$ 276 millones
Sistemas aéreos no tripulados	$ 286 millones
Inversión total de I + D	$ 142 millones

Elbit Systems Ltd. (ESLT) - Modelo de negocios: relaciones con los clientes

Asociaciones de contratos gubernamentales y militares a largo plazo

Elbit Systems mantiene contratos a largo plazo con múltiples establecimientos de defensa:

País	Valor de contrato	Duración del contrato
Estados Unidos	$ 1.2 mil millones	2022-2027
Israel	$ 850 millones	2023-2028
India	$ 620 millones	2021-2026

Soporte técnico y servicios de mantenimiento

Métricas de soporte técnico para sistemas de defensa:

• Cobertura de soporte global 24/7
• Tiempo de respuesta promedio: 2.5 horas
• Garantía de tiempo de actividad del sistema: 99.7%
• Valor de contrato de mantenimiento anual: $ 180 millones

Desarrollo de soluciones personalizadas

Capacidades de personalización:

Tipo de solución	Inversión anual	Tasa de personalización
Sistemas militares	$ 220 millones	85%
Seguridad Nacional	$ 95 millones	75%

Actualización y consulta de tecnología en curso

Inversiones de actualización de tecnología:

• Gasto de I + D: $ 340 millones en 2023
• Ciclo de actualización de tecnología: 18-24 meses
• Presupuesto de actualización de tecnología del cliente: $ 75 millones anuales

Aviso estratégico para la implementación tecnológica de defensa

Métricas de servicio de asesoramiento:

Servicio de asesoramiento	Ingresos anuales	Tasa de satisfacción del cliente
Consultoría de tecnología de defensa	$ 45 millones	92%
Aviso de integración del sistema	$ 38 millones	88%

Elbit Systems Ltd. (ESLT) - Modelo de negocio: canales

Ventas directas a los departamentos de defensa gubernamental

En 2022, Elbit Systems reportó ventas de defensa directa de $ 4.76 mil millones, con el 84% de los ingresos derivados de los mercados internacionales. Los contratos de defensa del gobierno representaron el 92% de los ingresos totales del canal.

Región	Volumen de ventas directo ($ M)	Porcentaje de ventas totales
Estados Unidos	1,345	28.3%
Israel	612	12.9%
Europa	1,187	24.9%
Otros mercados internacionales	1,616	33.9%

Exposiciones internacionales de defensa y comercio aeroespacial

Elbit Systems participó en 17 grandes exposiciones de defensa internacional en 2022, generando aproximadamente $ 263 millones en posibles clientes potenciales.

• París Air Show
• Idex abu dhabi
• Singapur Airshow
• Dsei Londres

Plataformas de consultas y propuestas técnicas en línea

Los ingresos del canal digital alcanzaron los $ 412 millones en 2022, con el 68% de las propuestas técnicas presentadas a través de plataformas en línea seguras.

Tipo de plataforma	Transacciones anuales	Contribución de ingresos
Portales web seguros	1,247	$ 276M
Consulta basada en la nube	832	$ 136M

Conferencias de la industria de defensa y eventos de redes

Elbit Systems realizó 42 conferencias de tecnología de defensa especializada en 2022, generando $ 187 millones en posibles negociaciones contractuales.

Representantes de ventas internacionales estratégicas

La compañía mantuvo 63 representantes de ventas internacionales en 24 países en 2022, que cubrió los mercados con valores posibles de contratos anuales superiores a $ 2.1 mil millones.

Región	Número de representantes	Potencial de mercado ($ b)
América del norte	18	0.76
Asia-Pacífico	22	0.59
Oriente Medio	12	0.45
Europa	11	0.30

Elbit Systems Ltd. (ESLT) - Modelo de negocio: segmentos de clientes

Ministerios de Defensa Nacional y organizaciones militares

Elbit Systems atiende a clientes de defensa en múltiples países con un ingreso total del mercado de defensa de $ 4.26 mil millones en 2022. Los segmentos clave de los clientes incluyen:

País	Ingresos del segmento del mercado de defensa
Estados Unidos	$ 1.45 mil millones
Israel	$ 892 millones
India	$ 612 millones
Reino Unido	$ 423 millones

Agencias de Seguridad Nacional

El segmento del mercado de seguridad nacional generó $ 673 millones en ingresos para los sistemas Elbit en 2022.

• Sistemas de vigilancia fronteriza
• Soluciones de seguridad cibernética
• Tecnologías críticas de protección de infraestructura

Empresas aeroespaciales comerciales

Los ingresos del segmento aeroespacial comercial alcanzaron los $ 387 millones en 2022.

Segmento aeroespacial	Contribución de ingresos
Aviónica	$ 214 millones
Sistemas no tripulados	$ 173 millones

Instituciones de seguridad gubernamentales internacionales

El segmento internacional del mercado de seguridad gubernamental generó $ 512 millones en ingresos en 2022.

Empresas de seguridad y tecnología del sector privado

Los ingresos del segmento de tecnología del sector privado fueron de $ 246 millones en 2022.

• Soluciones de seguridad cibernética
• Plataformas tecnológicas avanzadas
• Sistemas de seguridad integrados

Elbit Systems Ltd. (ESLT) - Modelo de negocio: Estructura de costos

Altos gastos de investigación y desarrollo

En 2022, Elbit Systems gastó $ 402.5 millones en gastos de investigación y desarrollo, lo que representa el 6.9% de los ingresos totales.

Año	Gastos de I + D ($ M)	Porcentaje de ingresos
2022	402.5	6.9%
2021	385.3	6.7%

Costos significativos de la fuerza laboral y la adquisición de talento

A partir de 2022, Elbit Systems empleó a 13,700 empleados a nivel mundial con gastos totales de personal de $ 1.2 mil millones.

• Salario anual promedio por empleado: $ 87,591
• Gastos totales de personal: $ 1.2 mil millones
• Distribución global de la fuerza laboral: 13.700 empleados

Inversiones de infraestructura de fabricación y producción

Los gastos de capital para 2022 totalizaron $ 171.2 millones, centrándose en las instalaciones de producción e infraestructura tecnológica.

Categoría de inversión de infraestructura	Cantidad ($ m)
Instalaciones de producción	92.6
Equipo tecnológico	78.6

Procesos de desarrollo tecnológico y pruebas complejas

Los costos de prueba y validación para la defensa y las tecnologías aeroespaciales alcanzaron los $ 135.7 millones en 2022.

Gastos de cumplimiento y certificación internacional

Los gastos relacionados con el cumplimiento para las certificaciones internacionales y los requisitos reglamentarios fueron de aproximadamente $ 47.3 millones en 2022.

Categoría de cumplimiento	Cantidad ($ m)
Cumplimiento regulatorio internacional	28.5
Procesos de certificación	18.8

Elbit Systems Ltd. (ESLT) - Modelo de negocio: flujos de ingresos

Adquisición del contrato de defensa gubernamental

En 2022, Elbit Systems Ltd. reportó ingresos totales de $ 4.86 mil millones, con una porción significativa derivada de los contratos de defensa del gobierno.

País	Valor de contrato	Año
Estados Unidos	$ 1.2 mil millones	2022
Israel	$ 780 millones	2022
Mercados internacionales	$ 2.88 mil millones	2022

Ventas del sistema de tecnología militar

Las ventas del sistema de tecnología militar constituyeron aproximadamente el 65% de los ingresos totales en 2022.

• Ingresos de sistemas no tripulados: $ 685 millones
• Ingresos de sistemas electroópticos: $ 542 millones
• Ingresos de sistemas aeroespaciales: $ 413 millones

Licencias de soluciones de ciberseguridad

La licencia de solución de ciberseguridad generó $ 276 millones en ingresos durante 2022.

Producto de ciberseguridad	Ganancia
Soluciones de inteligencia cibernética	$ 142 millones
Sistemas de protección de redes	$ 134 millones

Servicios de consulta y integración tecnológicas

Los servicios de consulta e integración tecnológica generaron $ 215 millones en 2022.

Contratos de mantenimiento y soporte continuo

Los contratos de mantenimiento y soporte representaron $ 387 millones en ingresos para 2022.

Tipo de contrato	Ganancia
Mantenimiento del sistema militar	$ 267 millones
Servicios de apoyo tecnológico	$ 120 millones

Elbit Systems Ltd. (ESLT) - Canvas Business Model: Value Propositions

Next-generation solutions for rapidly evolving battlefield challenges.

• Elbit Systems Ltd. enables customers to address rapidly evolving battlefield challenges.
• Solutions include embedded AI technology in systems awarded in an August 2025 contract.
• The company employs approximately 20,000 people in dozens of countries across five continents.

Comprehensive, multi-domain systems (Air, Land, Naval, Cyber).

For the last twelve months ending Q2 2025, Elbit Systems Ltd.'s revenue breakdown by segment included:

Segment	Revenue Contribution (LTM Q2 2025)
Aerospace	27% (or $2,174 million)
Land	25% (or $2,041 million)
ESA (Elbit Systems of America)	21% (or $1,662 million)
ISTAR & EW	17% (or $1,382 million)
C4I & Cyber	11% (or $862 million)

Providing a competitive advantage to national defense forces.

Elbit Systems Ltd. secured an international contract in November 2025 for a strategic solution valued at approximately $2.3 billion. This contract is set to be performed over a period of eight years. Another contract in August 2025, valued at $1.635 billion, is expected to span over a 5-year period. The company also secured two contracts in August 2025 totaling approximately $260 million for advanced airborne munitions to the Israel Ministry of Defense (IMOD). Furthermore, contracts in November 2025 totaled $210 million from Israel MoD for tank upgrades.

Long-term, reliable support and technology transfer to customers.

• The November 2025 international contract has an eight-year performance period.
• The August 2025 European contract is set to be implemented over a 5-year period.
• The August 2025 European contract includes industrial cooperation aimed to strengthen the buyer's national industrial capabilities.

Proven, tested systems contributing to operational successes.

Elbit Systems Ltd. reported strong momentum driven by sustained demand for its proven technologies. The order backlog reached a record level of over $25 billion as of September 30, 2025. For the three months ended September 30, 2025, Elbit Systems Ltd. reported revenues of $1,921.6 million. This followed Q2 2025 revenues of $1,972.7 million, representing a 21% year-over-year growth compared to Q2 2024. GAAP net income attributable to the Company's shareholders in Q3 2025 was $133.4 million, or 6.9% of revenues. Non-GAAP net income attributable to the Company's shareholders in Q3 2025 was $159.8 million, or 8.3% of revenues. Land revenues specifically increased by 41% in Q3 2025 due to ammunition and munition sales in Israel and Europe.

Elbit Systems Ltd. (ESLT) - Canvas Business Model: Customer Relationships

You're looking at how Elbit Systems Ltd. manages its relationships with its core buyers-mostly governments and defense ministries. It's not about quick sales; it's about deep, multi-year commitments, which is typical when you're dealing with complex, mission-critical defense technology.

Dedicated, long-term strategic engagement with government customers

Elbit Systems Ltd. locks in customers through very long-term, strategic agreements. This is evident in the sheer size and duration of recent wins. For instance, the company announced a strategic international contract in November 2025 valued at approximately $2.3 billion, which is set to be performed over eight years. This kind of timeline shows a relationship built on sustained support and system integration, not just a one-off delivery.

The company's overall financial stability is directly tied to these relationships, as shown by the record order backlog. As of September 30, 2025, the total order backlog reached $25.2 billion. Furthermore, the management strategy emphasizes growth outside of Israel, predominantly in Europe, where they secured a $1.6 billion deal over five years recently. This focus shows where the long-term engagement is being prioritized.

Here are some key figures illustrating the scale of these long-term commitments:

Metric	Value as of Late 2025	Source Context
Total Order Backlog	$25.2 billion	As of September 30, 2025
Largest Recent Contract Value	$2.3 billion	Announced November 2025, 8-year performance period
Backlog Outside Israel	Approximately 69%	As of September 30, 2025
Backlog Scheduled for 2025/2026	Approximately 38%	As of September 30, 2025

High-touch, consultative sales process for complex defense procurement

Selling advanced defense systems requires more than a catalog; it demands deep consultation. Elbit Systems Ltd. positions itself as a provider of integrated, multi-domain solutions tailored to modern defense forces. The President and CEO, Bezhalel Machlis, noted that their solutions provide customers with a competitive advantage and address rapidly evolving battlefield challenges. This suggests the sales process involves understanding the customer's specific operational gaps, which is inherently consultative.

The company's global footprint, with approximately 20,000 employees across five continents, helps them maintain this close proximity to diverse customer needs. The growth in segments like C4I and Cyber, which increased 14% year-over-year in Q3 2025, often relies on tailoring complex network and communication systems directly to the user's command structure.

Service and support contracts for system sustainment and upgrades

The relationship doesn't end at delivery; system sustainment and upgrades are crucial revenue drivers and relationship anchors. Elbit Systems Ltd. develops, manufactures, integrates, and sustains a range of next-generation solutions. This explicit mention of sustainment implies a steady stream of follow-on service contracts that keep the customer reliant on Elbit Systems Ltd. for maintaining operational readiness.

The focus on upgrading combat vehicles and providing integrated digital combat networks, as seen in the $1.6 billion European deal, necessitates long-term service agreements to ensure interoperability and performance over the system's lifecycle. These contracts provide revenue visibility beyond the initial system sale.

Industrial collaboration (IC) to ensure local economic contribution

Industrial Collaboration (IC), often called offsets or localization, is a core strategy and a business enabler for securing contract awards. For Elbit Systems Ltd., this is managed at the corporate level, overseeing billions of dollars in commitments. In many procurement evaluations, IC can account for up to 20 percent of the criteria used to select a supplier. This means IC isn't just a compliance item; it's a key part of the customer relationship negotiation.

The company actively works to turn suppliers into partners, noting that around 60 to 70 percent of their suppliers are also their customers, creating a symbiotic relationship. This strategy involves establishing local production lines, fostering investments, and transferring advanced technology tailored to the specific country's needs. The $1.6 billion European contract specifically included industrial cooperation to strengthen the buyer's national industrial capabilities.

Direct, senior-level management involvement in major contract negotiations

Major deals clearly involve the top brass. President and CEO Bezhalel (Butzi) Machlis is directly quoted on the signing of the $2.3 billion strategic contract, calling it a validation of the company's capabilities. Similarly, Executive VP - CFO Dr. Yaacov (Kobi) Kagan provided commentary on financial performance and backlog growth. This level of direct executive communication during contract announcements signals that these large, strategic customer engagements require sign-off and active participation from senior management to secure and maintain the relationship. It's defintely not delegated entirely down the chain.

The involvement of the Senior Vice President of Strategic Subcontracting and Industrial Collaboration in spearheading the IC efforts further underscores that the most complex, relationship-heavy aspects of the business model are managed at a very senior level. Finance: draft 13-week cash view by Friday.

Elbit Systems Ltd. (ESLT) - Canvas Business Model: Channels

You're looking at how Elbit Systems Ltd. gets its advanced defense technology into the hands of its customers, which are primarily governmental entities and prime contractors under defense and homeland security programs. This means the channels are heavily weighted toward direct government engagement and established regional presences.

Direct sales to government Ministries of Defense and militaries form the core of the distribution. The company's revenue stream shows a clear geographic focus, reflecting where these direct sales efforts are most concentrated. For the full year ended December 31, 2024, total revenues hit $6,827.9 million. By the third quarter of 2025, total quarterly revenue was $1,921.6 million, showing continued high activity.

Here's the quick math on where that revenue came from geographically, based on the latest full-year data and the most recent quarterly snapshot:

Region	FY 2024 Revenue Share (%)	FY 2024 Revenue ($ millions)	Q3 2025 Revenue Share (%)
Israel	29.1%	$1,988.0	33%
Europe	26.7%	$1,820.9	28%
North America	22.3%	$1,520.3	21%
Asia-Pacific	16.6%	$1,132.7	14%

The global network of local subsidiaries is a critical layer, especially in North America, where Elbit Systems of America (ESA) operates. For the full year 2024, ESA represented 21% of total revenue, amounting to $1,586 million. ESA's own revenue performance shows fluctuation based on specific product sales; for instance, its revenues increased by 8% in FY 2024, but then saw an 18% increase in Q1 2025, followed by a 4% increase in Q2 2025, and a 2% decrease in Q3 2025. This subsidiary structure helps Elbit Systems Ltd. navigate local procurement processes and maintain proximity to key customers, particularly in the US market.

Direct-to-customer service and maintenance teams worldwide are essential for sustaining complex systems sales. While specific service revenue figures aren't broken out, the operational footprint supports this channel:

• Elbit Systems Ltd. employs approximately 20,000 people.
• These employees are spread across dozens of countries on five continents.
• The company focuses on developing, manufacturing, integrating, and sustaining a range of next-generation solutions.

Participation in international defense exhibitions and tenders drives future revenue visibility. The success in securing new business is clearly reflected in the order backlog, which reached a record $25.2 billion as of September 30, 2025. This backlog is $3.1 billion higher than the backlog at the end of the third quarter of 2024. Finance: track Q4 2025 backlog growth against the $25.2 billion mark by January 2026.

Elbit Systems Ltd. (ESLT) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Elbit Systems Ltd.'s advanced defense and security technology as of late 2025. The customer base is overwhelmingly governmental, driven by global defense budget increases and ongoing security needs.

The primary customer base consists of National governments and Ministries of Defense globally. This is where the bulk of the revenue lands, as evidenced by the recent Q3 2025 financial performance. The company's total revenue for Q3 2025 was $1,921.6 million, and the geographical split shows a clear concentration in key allied nations.

Here is the breakdown of that Q3 2025 revenue by the major geographic customer regions:

Customer Region	Q3 2025 Revenue Percentage	Q3 2025 Revenue Amount (Millions USD)
Israel (Primary Customer)	33%	$634.128
Europe	28%	$538.048
North America	21%	$403.536
Asia-Pacific	14%	$269.024
Latin America & Other Regions	4%	$76.864

The primary customer, Israel, accounted for 33% of the Q3 2025 revenue, showing the continued strategic importance of the domestic market. Europe is a major international market, contributing 28% of the quarter's revenue, with North America following closely at 21%. The Asia-Pacific governments and defense forces represented 14% of the Q3 2025 top line.

Beyond the core defense ministries, Elbit Systems Ltd. serves a distinct set of non-military government entities. While specific 2025 financial segmentation for this area isn't broken out in the quarterly reports, historical data suggests Homeland Security can represent around 10% of the total business, and their solutions are clearly deployed in these areas.

You'll find Elbit Systems Ltd. serving Homeland security and civilian agencies for cyber and border control through specific product lines:

• Law enforcement and counter-terrorism support.
• U.S. Customs and Border Protection (CBP) contracts for Integrated Fixed Towers (IFT).
• Deployment of the Advanced Border Security Solution (BCMS).
• National level control centers managing cyber security for border protection networks.
• Solutions like Torch-X Borders integrating multi-sensor surveillance for terrestrial and maritime security.

This dual focus-deep integration with national defense and specialized homeland security contracts-is key to their revenue stability.

Elbit Systems Ltd. (ESLT) - Canvas Business Model: Cost Structure

You're looking at the major drains on Elbit Systems Ltd.'s bottom line as of late 2025, focusing strictly on the numbers reported for the third quarter. For a high-tech defense contractor building complex hardware, the cost profile is heavily weighted toward upfront investment and execution.

The commitment to innovation means Research & Development (R&D) is a significant, largely fixed cost component. Elbit Systems Ltd. continues to invest heavily to maintain its market leadership, which is a non-negotiable for securing future profitable growth. This investment is a core part of the cost structure, reflecting the need to stay ahead in the defense technology space.

Here's a quick look at the operating expenses for the third quarter of 2025, based on revenues of $1,921.6 million for that period:

Cost Category	Q3 2025 Amount (Millions USD)	Percentage of Revenues
Research and Development (R&D), net	$129.1 million	6.7%
Marketing and Selling Expenses, net	$91.0 million	4.7%
General and Administrative (G&A) Expenses, net	$86.7 million	4.5%

Manufacturing and production costs for complex hardware form the largest part of the Cost of Revenue. While the specific breakdown isn't itemized in the same way as operating expenses, we can see the resulting gross margin. For Q3 2025, GAAP gross profit was $478.2 million, which translates to a 24.9% margin on revenues. This implies that the direct costs associated with building and delivering those advanced systems-materials, labor, and overhead-accounted for the remaining 75.1% of revenue.

You should also note the trend in the G&A line. It ticked up slightly in Q3 2025 compared to the prior year period, which is something to watch. The key cost drivers for Elbit Systems Ltd. in this period include:

• High, sustained investment in R&D and engineering.
• The direct costs tied to complex hardware manufacturing.
• Selling expenses, which were $91.0 million in Q3 2025.
• Administrative overhead, reported at $86.7 million for Q3 2025.

Finance: draft 13-week cash view by Friday.

Elbit Systems Ltd. (ESLT) - Canvas Business Model: Revenue Streams

You're looking at how Elbit Systems Ltd. actually brings in the money, which is heavily weighted toward large, multi-year defense procurements. The core of the revenue comes from selling complex, integrated defense systems and platforms across their main business segments.

For the third quarter of 2025, Elbit Systems Ltd. reported revenues of $1,921.6 million. This represented a 12% growth compared to the third quarter of 2024, showing a strong upward trend in their sales volume.

The sales of defense systems and platforms are detailed across their operational segments. For the last twelve months ending September 30, 2025, the revenue breakdown by segment looked like this:

Segment	Revenue Share (LTM Q3 2025)
Land	26%
Aerospace	26%
ESA (Elbit Systems of America)	20%
ISTAR & EW (Intelligence, Surveillance, Target Acquisition & Reconnaissance and Electronic Warfare)	17%
C4I & Cyber (Command, Control, Communications, Computers, Intelligence and Cyber)	11%

These segment figures reflect the specific product sales you asked about. For instance, the Land segment saw a significant jump in Q3 2025, increasing by 41% year-over-year, largely driven by ammunition and munition sales in Israel and Europe. Also, Precision Guided Munition (PGM) sales are a component of the Aerospace segment, which saw revenues decrease by 3% in Q3 2025, mainly due to lower PGM sales in Asia Pacific.

Revenue streams are also heavily supplemented by long-term service and support contracts for maintenance and upgrades, which is common for platforms like UAS, C4I, and EW systems. This is clearly evidenced by the structure of their major new awards.

A prime example of this is the major contract Elbit Systems Ltd. announced in late 2025. This was an international deal for a strategic solution valued at approximately $2.3 billion, which is scheduled to be performed over a period of eight years. This single award provides substantial, long-term revenue visibility.

You can see the specific revenue drivers within the segments:

• C4I and Cyber revenues increased by 14% in Q3 2025, mainly from radio systems and command and control systems sales in Europe.
• ISTAR and EW revenues increased by 5% in Q3 2025, mainly due to Electro-Optic systems and Electronic Warfare systems sales in Israel.
• The Land segment's 41% Q3 2025 increase was mainly due to ammunition and munition sales in Israel and Europe.

Honestly, the mix shows they are selling both the big hardware and the recurring support that keeps it running. Finance: draft 13-week cash view by Friday.