Company – Active
This profile is actively maintainedBankTrack
Company – Active
This profile is actively maintainedBankTrack
Why this profile?
Israel’s largest arms manufacturer Elbit Systems produces armaments and surveillance systems for states, including those involved in conflict-related human rights violations. The company is the main arms supplier for the state of Israel, which uses Elbit’s products in its genocide against the Palestinian people and to maintain its illegal occupation of Palestinian territory – and, more broadly, in wars with devastating human rights impacts on civilians across the Middle East. Elbit’s subsidiary IMI Systems has been accused of producing cluster munitions, raising questions of compliance with international arms treaties.
What must happen
Banks should not finance Elbit Systems and should maintain robust policies to exclude companies which contribute to international crimes in the OPT.
This recommendation follows UN Special Rapporteur Francesca Albanese’s findings in a 2025 report, which draws on “recent and ongoing ICJ and ICC proceedings” confirming that Israel’s occupation of the OPT is illegal and that Israel’s conduct in Gaza plausibly constitutes genocide. The report concludes that Elbit is “directly involved in occupation and genocide” and calls for companies to “promptly cease all business activities and terminate relationships directly linked with… international crimes against the Palestinian people”
| Sectors | Arms Industry and Trade, Aviation, Investigation and Security Services |
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listed on NASDAQ OMX & Tel-Aviv Stock Exchange
According to WhoProfits and the Elbit Systems website, Elbit Systems’ controlling shareholder is Israeli investor and Elbit Board member Michael Federmann, who owns an estimated 44% of Elbit Systems. For a list of Elbit System's main institutional shareholders, please click here. |
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| Website | https://www.elbitsystems.com/ |
Elbit Systems is a military equipment producer with a focus on defense electronics, aviation systems, and intelligence gathering systems. It was established in 1967 and is headquartered in Haifa, Israel. The company employed over 20,000 people globally as of 2026. Elbit Systems mainly operates in the homeland security and defense arena with a focus on intelligence, surveillance, and reconnaissance. The company's portfolio includes airborne, land and naval systems and products for defense, homeland security and commercial applications.
Impact on human rights and communities
As the producer of 85% of the Israeli military’s land and air-based equipment, Elbit Systems is directly connected to war crimes and human rights violations committed by Israel in the Occupied Palestinian Territory and elsewhere.
Elbit has multiple ongoing contracts for the supply of weapons to the Israeli Defense Forces, including recent contracts of US$340 million in 2024 for ammunition, US$60 million for artillery shells in 2023, US$40 million for drones in 2024, and US$34 million for fighter jets in 2026.
These products are used in connection with the illegal occupation of Palestinian territory and the ongoing military campaign in Gaza, which has been widely defined as a genocide and has killed over 75,000 people, including more than 738 Palestinians since a ceasefire came into effect in October 2025.
Emerging reports also indicate that Elbit weaponry, including artillery, drones, and banned cluster munitions, are being used in Israel’s invasion of Lebanon, which has killed more than 3,600 people as of June 2026, and in the US-Israeli war on Iran.
Elbit System weapons in ongoing war and targeting of civilians: Elbit’s weaponry is frequently used by the Israeli military to deliberately target civilians. Elbit supplies avionics and other parts for the manufacture of Lockheed Martin-produced F-16 fighter jets, described as “the workhorse of the Gaza bombing campaign,” through its subsidiary, Cyclone. F-16 and F-35 fighter jets (also co-manufactured by Elbit) have been used in attacks throughout the genocide in Gaza, including the bombing of a designated “safe zone” in Khan Younis, which resulted in the death of 90 Palestinians in July 2024. Elbit also collaborates with other weapons manufacturers such as Boeing in the production of JDAMs bombs, with lasers used in the unlawful attacks on civilian homes.
Reports indicate that Elbit weapons are regularly “tested on Palestinians” and then promoted as “combat proven” to the international market. Elbit secured global contracts for the provision of the Iron Sting, a precision-guided mortar bomb, and the Hermes 450 and 900 UAVs, after their use on Palestinian civilians in the 2014 and 2023 Gaza wars.
Elbit also produces novel surveillance technologies for use in surveilling Palestinian civilians and provides “smart solutions” for the patrolling of Israel’s illegal border walls in Palestinian territory. These products are marketed, among others, to US Customs and Border Patrol for a “surveillance tower programme” along the US-Mexico border.
Killing of Aid Workers and Journalists: Elbit’s Hermes 450 drones have been used in strikes which killed seven World Central Kitchen aid workers in April 2024. Elbit’s M339 projectiles were also likely used in the strike which killed a journalist and injured six others in South Lebanon in October 2023. These affiliations may connect Elbit with attacks which Amnesty has labelled as war crimes.
IMI Systems and Cluster Munitions: In November 2018, Elbit Systems completed the acquisition of cluster munitions producer IMI Systems. Cluster munitions are prohibited by a 2008 Convention. In 2019, Elbit confirmed IMI would discontinue their manufacture, but several institutional investors added Elbit to their exclusion lists in 2022, noting that the company still“clear[ly]... produces cluster munitions”.
IMI Systems also produces M339 projectiles, which have been used in attacks on civilians and children in Gaza, including the “apparently deliberate” killing of 22-year old Duniana Al-Amour.
Links with Adani and ‘Green Bonds’: Hermes 900 drones have been manufactured in partnership with Adani Defence, an Indian company associated with various human rights allegations. Adani’s green bonds have been funneled to finance its coal activities and various subsidiaries, potentially including its defence branch. As such, this joint venture might be indirectly tying banks such as ING and Standard Chartered, which have underwritten Adani green bonds, to weapons financing.
Equity financing (shareholdings and management) by European financial institutions is based on the latest available filings as of 31 August 2025 (Don't Buy Into Occupation 2025).
For non-European financial institutions, this data only encompasses Elbit System's 10 largest institutional investors. For a full list of Elbit System's main institutional shareholders, please click here.
