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JERUSALEM (BNS): Israel Aerospace Industries (IAI) has received a contract from Italy to manufacture and supply two G-550 Conformal Airborne Early Warning & Control Systems (CAEW) to the to the Italian Air Force.

The deal, inked on July 19 and totaling $750 million, also includes ground support systems and logistical support package for the aircraft.

"As part of the Israel Ministry of Defense's agreement with the government of Italy, IAI will manufacture and supply to the Italian Air Force two G-550 Conformal Airborne Early Warning & Control Systems (CAEW), Ground Support Systems and logistical support package totaling $750 million," the Israeli company said.

The CAEW system, developed and manufactured by IAI's subsidiary ELTA, with the Gulfstream G-550 business jet as its platform, has been operational in the Israeli Air Force since 2008.

The aircraft provides aerial and maritime situation awareness by performing 360° surveillance of airborne targets at all altitudes, over any terrain and in any weather conditions, including maritime surveillance and electronic surveillance.