UPDATE 1-Boeing, Elbit to collaborate on self-defence aircraft systems
JERUSALEM Feb 12 (Reuters) - Boeing and Elbit Systems, Israel's largest publicly traded defence contractor, have signed an agreement to jointly sell self-defence systems for Boeing military aircraft in international markets.
Under the memorandum of understanding, the companies will offer Elbit's Directed Infrared Counter Measure (DIRCM) systems for Boeing military fixed-wing and vertical-lift aircraft, they said on Tuesday.
A market source told Reuters that in the first stage there is potential to install a few hundred systems.
Shares of Elbit were down 0.2 percent in late morning trade in Tel Aviv in a flat overall market.
The Elbit systems, produced by Elbit Systems Electro-Optics ELOP, are lightweight, compact systems designed to protect aircraft from common battlefield threats.
Boeing's Network & Space Systems and Boeing Military Aircraft are working together to integrate the systems onto new and existing aircraft, as well as to provide signature analysis and end-to-end services and support.
"Boeing is partnering with pioneering firms worldwide to bring advanced technology to our customers," said Network & Space Systems President Roger Krone.