NETANYA, Israel, August 21, 2019 - RADA Electronic Industries Ltd. (NASDAQ: RADA) today announced that the Israeli Ministry of Defense (IMOD) selected the Iron Fist Active Protection System (APS), manufactured by Elbit Systems/IMI. The Iron Fist incorporates RADA’s software defined Compact Hemispheric Radars (CHR). The award of the contract for the program and its final configuration are subject to completion of negotiations between Elbit Systems and the IMOD.

The system will be used for the Israeli Defense Forces’ (IDF) Eitan new eight-wheeled Armored Fighting Vehicle (AFV) and the D-9 Bulldozer.  

The selection of the Iron Fist for the IDF’s Eitan AFV comes on the heels of the decision by the U.S. Army to proceed with the Iron Fist APS for its Bradley AFVs.

Iron Fist current configuration includes optical sensors, RADA’s CHR radar, launchers and countermeasure munitions to defeat threats at a safe distance from the defended combat vehicles. The system provides full hemispherical protection coverage for close-range scenarios in both open terrain and urban environments. Its low size and weight, versatile high-performance, minimal residual penetration and ease of integration, position Iron Fist, along with RADA’s radars, as the optimal APS solution for any fighting vehicle.

Dov Sella, RADA’s CEO, commented, “we are working with Elbit/IMI for over a decade on the development and testing of the Iron Fist APS, and have continuously improved our radar capabilities. These persistent efforts were finally recognized by the IMOD. We estimate the total available market of radars for APS at over $2.5 billion globally, and based on the Israeli and US selections of the Iron Fist, we anticipate accelerated global interest by many modern armed forces who seek to enhance defensive capabilities for their AFVs”.

About RADA

RADA Electronic Industries Ltd. is an Israel-based defense electronics contractor. The Company specializes in the development, production, and sales of Tactical Land Radars for Force and Border Protection, and Avionics Systems (including Inertial Navigation Systems) for fighter aircraft and UAVs.

Company Contact:

Avi Israel, CFO

Tel: +972-9-892-1111       

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www.rada.com

Investor Relations Contact:

GK Investor Relations

Ehud Helft/Gavriel Frohwein

Tel: 1 646 688 3559

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