Zack Miller
IsraelNewsletter.com

Globes ran an article on Elbit Systems (ESLT) last week. Company president and CEO Joseph Ackerman spoke about the growth the defense company is seeing. 2008 and beyond seem to be double-digit growth years for the Israeli contractor, with over $4 billion in backlog orders.

The seminal paragraph of the article addresses market demand for Elbit products:

“The budgets of armies around the world have been growing at 3-4% annually in the past few years, and we are growing faster than the market…Our business is military electronics,…there’s always demand for the products. What’s more, today armies buy fewer platforms and more systems, and that’s exactly what we do. Therefore I estimate that in the next three to four years we’ll maintain a two-digit growth rate. 2008 is more or less clear to us, and it will be better than 2007.”

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