Elbit Systems reports that it won a contract for the supply of weapons, surveillance equipment, driving and vigilance systems for armored vehicles in the amount of 300 million dollars.

The contract will span 6 years and will join the company's large order backlog, which stood at $16.6 billion at the end of the third quarter.

Those who followed the company's latest reports saw Elbit reporting on a number of large contracts with European customers.

European countries are dealing with the fear of escalation against Russia and support for Ukraine, and have increased their defense spending to a record.

The increase in expenses and the expectation of further increase are burdening the local defense industry, which opens the door for companies like Elbit Systems to increase their market share in Europe with subsidiaries operating in the various countries.

According to the reports for the third quarter, revenues from Europe jumped more than 50% compared to the same period last year, the largest growth of any global region.

The geographical distribution of the company through the subsidiaries that operate in the various countries is one of the company's great advantages, as it is well positioned to maximize the orders from the growing demand areas in each period.