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Elbit Systems Ltd. (NASDAQ:ESLT) is one of the best Middle East and Africa stocks to buy according to hedge funds. On May 12, Elbit Systems Ltd. (NASDAQ:ESLT) announced that its US subsidiary, Elbit Systems of America – Night Vision LLC, had been awarded a $212 million delivery order by the US Army for continued production of the Enhanced Night Vision Goggle – Binocular (ENVG-B) system. The company said deliveries are scheduled to run through 2028.

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Elbit Systems noted that this award is particularly notable because the US Army has historically split ENVG-B production contracts among multiple vendors. This time round, however, Elbit Systems of America was the sole prime supplier selected. As such, management believes that this is the strongest signal of the US Army’s confidence in their technology.

According to Elbit, the ENVG-B system brings together high-resolution image intensification and thermal imaging, and the combined product allows soldiers to detect, identify, and engage targets in complete darkness or adverse weather. The company has also enhanced the technology with augmented reality. The AR overlays enable passive targeting and improves the survivability of users as well as the effectiveness of missions on the battlefield.

The company said that this new delivery order continues a program that was originally awarded to Elbit Systems of America in 2023. It noted that this new order is a chance to deepen this multiyear relationship, and that this award reinforces its position as the Army’s primary partner in that technology area.

Elbit Systems Ltd. (NASDAQ:ESLT) is a defense electronics company headquartered in Haifa, Israel. The company develops and manufactures defense, homeland security, and commercial aerospace systems for customers in the Middle East, Europe, Asia-Pacific, and the Americas.

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