Greece’s Hellenic Parliament and the Government Council for National Security (KYSEA) approved a budget to purchase 36 PULS rocket‑artillery launchers for 650 million euros (about $758 million). The approval signals a forthcoming contract that will add a substantial order value to Elbit Systems’ already record‑level backlog of $25.2 billion as of September 30 2025.
The PULS system is a modular, wheeled or tracked platform that can fire unguided rockets, precision‑guided munitions and missiles up to 300 km with the Predator‑Hawk missile. Its ability to integrate with Elbit’s command‑control and network‑ed fire‑control systems gives Greece a rapid, interoperable artillery capability that can be deployed on existing platforms, reducing training and maintenance costs.
The contract will lift Elbit’s backlog further and support the company’s top‑line growth. The backlog grew from $23.8 billion at the end of Q2 2025 to $25.2 billion at the end of Q3 2025, a $1.4 billion increase driven largely by European defense contracts such as this one. The Greek deal adds a new, high‑value, integrated system that aligns with Elbit’s strategy of securing large, multi‑year contracts outside Israel.
Segment‑level analysis shows that the Land segment grew 41% YoY, driven by the PULS contract and other European land‑systems sales. C4I and Cyber revenue rose 14% as new cyber‑security and command‑control contracts were signed, while ISTAR and EW grew 5% on a mix of surveillance and electronic‑warfare deals. Aerospace revenue fell 3% as the company’s commercial aerospace contracts lagged behind defense demand, reflecting a shift toward higher‑margin defense products.
CEO Bezhalel Machlis said the Greek contract “reinforces Elbit’s position as a trusted partner for NATO members and underscores the growing demand for advanced, integrated artillery systems.” He added that the company’s “record order backlog and strong margin performance” are evidence of its execution capability and the resilience of its defense portfolio.
The PULS win comes amid a broader European rearmament push, with Greece committing to spend 5% of its GDP on defense by 2035 and the EU’s €150 billion NATO rearmament fund. The contract positions Elbit as a key supplier in a market where NATO members are accelerating procurement to meet defense targets, and it strengthens the company’s foothold in a region with rising security tensions.
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