Elbit Systems
Israel's largest private defence contractor, providing 85% of the IDF's drones and land equipment. Weapons marketed as 'battle-proven' on Palestinian civilians.
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- View Strategic AnalysisIn-depth assessment of vulnerabilities and engagement strategy
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Decision-Maker Directory
Key individuals with influence over corporate partnerships and procurement decisions. Direct your correspondence to the most relevant role.
Material Risk Framing
Frame your message around business risks. These talking points resonate with corporate stakeholders and institutional investors.
Association with operations under ICC investigation, ICJ genocide case proceedings, and apartheid infrastructure per UN documentation. Products advertised as 'battle-proven' creates reputational risk for partners.
Stock dropped 30%+ following activist campaigns. Major investors JPMorgan (70% reduction), Scotiabank (50% reduction), and Barclays (full divestment) have reduced holdings. $25.2bn order backlog concentrated in controversial markets.
Equipment used in operations under ICC investigation. Products linked to potential genocide per ICJ preliminary ruling. International humanitarian law violations cited by Norway, Denmark, Sweden pension funds as divestment rationale.
UK factory closures following sustained activism. Insurance providers Allianz and Aviva terminated coverage. Lost GBP 2.1bn Watchkeeper contract. Brazilian and Japanese contracts cancelled.
Strategic Analysis
In-depth assessment of the company's position, vulnerabilities, and recommended approaches for effective engagement.
High severity, lower vulnerability — requires long-term divestment pressure
Learn about our methodology — companies are categorised based on severity (harm potential) vs strategic vulnerability (campaign leverage).
Why do these scores change?
Unlike static boycott lists, our targeting model is dynamic. This company's position on the matrix is re-evaluated continually as we verify new contracts, divestments, or policy changes. Your reporting directly impacts this score.
Elbit Systems represents the highest-priority G2B target for military embargo campaigns. As Israel's largest private defence contractor, Elbit provides 85% of the IDF's drones and 85% of its land-based military equipment. The company explicitly markets its weapons as "battle-proven" in Gaza, making any commercial relationship an endorsement of operations under ICC and ICJ investigation.
Key Leverage Points
- Proven Divestment Vulnerability: 15+ years of successful campaigns including Norwegian, Danish, Swedish pension funds, Barclays, AXA, and Deutsche Bank. Stock dropped 30%+ during peak activist pressure.
- Insurance and Operational Pressure: Allianz and Aviva terminated insurance coverage of UK subsidiaries. Factory closures in UK (Ferranti sold 2022, Aztec West abandoned 2025) demonstrate operational vulnerability to sustained campaigns.
- Contract Cancellation Precedent: UK MOD cancelled GBP 2.1bn Watchkeeper contract. Brazil cancelled ATMOS artillery deal. Japanese corporations cancelled MOUs. These provide templates for other government procurement challenges.
- Legal Exposure: ICJ genocide case and ICC investigation create significant legal risk for government purchasers under international humanitarian law. Norway's 2009 divestment rationale explicitly cited ICJ advisory opinion.
Documented Impact
Elbit drones have been deployed in every major Israeli assault on Gaza since 2008, including operations that killed thousands of civilians. Human Rights Watch documented drone strikes killing civilians during Operation Cast Lead (2008-09). In 2021's "Operation Guardian of the Walls," Hermes 900 drones equipped with Spike missiles killed 248 Palestinians. Amnesty International identified an IMI bomb (Elbit subsidiary) used in an April 2024 strike that killed nine civilians including six children. The company's MPR 500 bombs are explicitly designed for "densely populated urban warfare" with "26,000 controlled fragments for high kill probability."
Beyond direct military supply, Elbit provides surveillance systems for Israel's separation wall (deemed illegal by the ICJ in 2004) and the "smart fence" imprisoning Gaza. The same technology is deployed on the US-Mexico border through $145m+ in CBP contracts, demonstrating the "field-testing on Palestinians" to surveillance export pipeline.
Engagement Strategy
Focus campaigns on government procurement decision-makers, elected representatives, and institutional investors. Emphasise legal risks under international humanitarian law and precedent of successful contract cancellations. For UK targets, reference the GBP 2.1bn Watchkeeper cancellation. For pension funds, cite Norwegian Government Pension Fund's 2009 reasoning. For insurers, highlight Allianz and Aviva precedent. The goal is contract cancellation and economic isolation rather than product substitution. Coordinate with existing campaigns: BDS Movement (global coordination), Campaign Against Arms Trade (UK procurement), and Stop the Wall (Palestinian-led advocacy).
Evidence & Sources
Verified sources including NGO reports, regulatory filings, and primary documents. Use these to substantiate your correspondence.
Names Elbit among 15 companies enabling genocide. Documents IMI bomb (Elbit-owned) used in unlawful strike killing 9 civilians including 6 children.
Open sourceElbit's annual filing reveals $25.2bn order backlog, record revenues during Gaza operations, and acknowledges boycott campaign risks.
Open sourceComprehensive documentation of Elbit's role supplying 85% of IDF drones and land equipment, including Hermes 450/900 drones used in all major Gaza operations since 2008.
Open sourceUK Ministry of Defence scraps Watchkeeper drone programme after years of activist pressure and operational failures.
Open sourceFollowing 54 protests at branches, Barclays announces full divestment from Israel's largest arms company.
Open sourceDocuments $145m+ US border contracts, weapons used in documented civilian killings, and cluster munition production history.
Open sourceGovernment Pension Fund Global divests from Elbit citing ICJ advisory opinion on separation wall. Finance Minister: 'We do not wish to fund companies that contribute to violations of international humanitarian law.'
Open sourceDocuments Israeli drone attacks killing civilians in Gaza during Operation Cast Lead. Elbit Hermes drones identified as primary platform.
Open sourceUpdates & Milestones
- UK Factory Closure
Elbit's Aztec West site in Bristol found deserted after sustained activist pressure, despite lease running until 2029.
- MIT Severs Ties
Massachusetts Institute of Technology cuts all ties with Elbit following six-month student campaign.
- Japanese Corporations Cancel MOU
Itochu and NAS corporations cancel memorandum of understanding for joint project with Elbit.
- Brazil Cancels ATMOS Contract
Brazil cancels Elbit artillery contract following public protests, declares no new contracts until peace deal reached.
- UK Watchkeeper Contract Cancelled
Ministry of Defence scraps GBP 2.1bn Watchkeeper drone programme after years of activist pressure and operational issues.
- Barclays Full Divestment
Following 54 branch protests, UK bank Barclays announces complete divestment from Elbit Systems.
- Australia Future Fund Bans Investment
$200bn sovereign wealth fund excludes Elbit over cluster munition production allegations.
- US Border Contract Awarded
Elbit Systems of America wins $145m contract for surveillance towers on Arizona-Mexico border, bypassing American contractors.
- Swedish AP Funds Divest
Four Swedish National Pension Funds (AP1-4) exclude Elbit from $110bn portfolio for violations of 'fundamental conventions and norms.'
- Danske Bank Blacklists Elbit
Denmark's largest bank divests, stating it will not 'place customers' money in companies that violate international standards.'
- Norwegian Pension Fund Divestment
Government Pension Fund Global ($5.4m stake) divests citing surveillance systems for illegal separation wall. Triggers wave of Scandinavian divestments.