Elbit Systems Ltd. (NASDAQ:ESLT) announced that its subsidiary Elbit Systems Electro-Optics Elop Ltd. was selected by Lockheed Martin Aeronautics .to supply new generation Head Up Displays (HUDs) for the new F-16 aircraft.

The multi-year project, which will commence immediately, is a continuation of ongoing cooperation between the two companies in the area of HUDs for F-16 aircraft.

An initial order valued at approximately $3.8 million has been placed. The full potential value of the master purchase order is dependent on the level of future F-16 sales.

According to Elbit Systems Electro-Optics Elop General Manager, Haim Rousso:

"This framework agreement strengthens Elop's important cooperation with Lockheed Martin. High performance, high reliability and cost effectiveness are the main elements of our unique HUD solutions for the F-16 and other programs."

Elop has supplied more than 3,300 HUDs, representing thirteen different models, flying on more than 20 aircraft types, to customers around the world.