European armies have been buying rocket artillery at a steady clip as they rebuild long-range fire capabilities they had let dwindle. The order covers the medium-range version of the EXTRA supersonic rocket, PULS launchers, related artillery platforms and logistics support. The EXTRA-MR can strike targets at ranges of up to 80 km and plugs into the company's existing command networks, according to the release.
The order lands on top of a backlog that has swelled with European demand. Elbit closed the quarter ended June 30, 2026 with orders worth $32.0 billion, the company said, and management told investors in August that the growth came mainly from international customers led by Europe, with roughly 42% of that backlog scheduled to be performed over the rest of 2026 and in 2027, according to the second-quarter call. Earlier this year the company booked a $750 million formal award for the PULS program in Greece. Elbit is raising capital spending to add capacity, and analysts on that call focused on how quickly the record backlog would turn into revenue.