Defense electronics firm Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) and aerospace and defense company Alliant Techsystems (NYSE: ATK) announced today that they have successfully conducted flight tests of the Guided Advanced Tactical Rocket (GATR).
In a recent demonstration, conducted in Israel, GATR was deployed from a helicopter using a "lock-on before launch" method to engage an off-boresight target at a range of approximately three kilometers. The laser designated guided flight, launched from a standard 2.75 inch launcher, resulted in a direct impact on the target.
GATR supports lock-on before or after launch as well as autonomous or remote laser designation. The system can be deployed against targets at ranges of 1.5 to 8+ kilometers from fixed and rotary-wing aircraft.
The companies said that GATR will be particularly effective in urban areas or against targets where a low collateral damage solution is required.
ATK has more than 18,000 employees in the US and around the world, with revenue of more than $4.7 billion.
Shares in Elbit closed at $61.85 yesterday, giving a market cap of $2.6 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on June 3, 2009
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