SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                              ____________________

                                    FORM 6-K
                        Report of Foreign Private Issuer
                        Pursuant to Rule 13a-16 or 15d-16
                     of the Securities Exchange Act of 1934
                          For the Month of January 2004

                             _______________________

                               ELBIT SYSTEMS LTD.
                 (Translation of Registrant's Name into English)
           Advanced Technology Center, P.O.B. 539, Haifa 31053, Israel
                    (Address of Principal Corporate Offices)

Indicate by check mark whether the registrant  files or will file annual reports
under cover of Form 20-F or Form 40-F:

                       |X|        Form 20-F         |_|      Form 40-F

Indicate by check mark if the  registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): |_|

NOTE:  Regulation  S-T Rule  101(b)(1) only permits the submission in paper of a
Form 6-K if submitted  solely to provide an attached  annual  report to security
holders.

Indicate by check mark if the  registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): |_|

NOTE:  Regulation  S-T Rule  101(b)(7) only permits the submission in paper of a
Form 6-K  submitted to furnish a report or other  document  that the  registrant
foreign  private  issuer  must  furnish  and make  public  under the laws of the
jurisdiction  in which the  registrant  is  incorporated,  domiciled  or legally
organized  (the  registrant's  "home  country"),  or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press  release,  is not required to be and has
not been distributed to the registrant's  security holders, and, if discussing a
material  event,  has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.

Indicate by check mark whether the  registrant  by  furnishing  the  information
contained  in this  form is  also  thereby  furnishing  the  information  to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

                       |_|      Yes               |X|      No

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-______________






         Attached  hereto as Exhibit 1 and  incorporated  herein by reference is
the Registrant's press release dated January 26, 2004.

                                    SIGNATURE
                                    ---------

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                          ELBIT SYSTEMS LTD.
                                          (Registrant)

                                          By:  /s/ Ilan Pacholder
                                               ---------------------------------
                                          Name:  Ilan Pacholder
                                          Title:  Corporate Secretary

Dated:  January 26, 2004





                                  EXHIBIT INDEX
                                  -------------

    EXHIBIT NO.            DESCRIPTION
    -----------            -----------

             1.            Press release dated January 26, 2004.







                                    EXHIBIT 1
                                    ---------

ELBIT SYSTEMS' SUBSIDIARY EL-OP RECEIVES NEW ORDER FOR
------------------------------------------------------
THERMAL SIGHTS VALUED AT $63 MILLION
------------------------------------

HAIFA,  ISRAEL,  JANUARY 26, 2004, - ELBIT  SYSTEMS  LTD( NASDAQ:  ESLT),  today
announced that its wholly owned subsidiary,  Elop Electro-Optics Industries Ltd.
(El-Op),  received a new order for ground Thermal Sight  Systems,  valued at $63
million.

The equipment is due to be supplied over a period of 24 months.  The contract is
anticipated to enter into effect  shortly,  upon  completion of certain  routine
administrative  matters.  This new  contract is in  addition  to the  previously
received  orders  for night  vision  equipment  valued at over $53  million,  as
announced by the Company on December 29, 2003.

Joseph Ackerman, President and CEO of Elbit Systems, commented: "These recent
orders demonstrate our leading role in the growing market of advanced
electro-optical systems for defense and homeland security. They reflect Elbit
Systems' in-house vertical integration capabilities and the Company's extensive
experience in developing advanced solutions for Israel Defense Forces and other
customers worldwide."

El-Op  offers  a  broad  range  of   electro-optical   solutions   for  military
applications.  The company's lines of business include night vision products for
sighting  and   observation,   laser  products  for  range  finding  and  target
designation, airborne displays, stabilized payloads, airborne and space cameras,
sights for  Armored  Fighting  Vehicles,  electro-optical  countermeasures,  and
products for the homeland security market.

ABOUT ELBIT SYSTEMS
ELBIT SYSTEMS LTD. IS AN INTERNATIONAL  DEFENSE ELECTRONICS COMPANY ENGAGED IN A
WIDE RANGE OF  DEFENSE-RELATED  PROGRAMS  THROUGHOUT THE WORLD,  IN THE AREAS OF
AEROSPACE, GROUND AND NAVAL SYSTEMS, COMMAND, CONTROL, COMMUNICATIONS, COMPUTERS
AND INTELLIGENCE  (C4I),  ADVANCED  ELECTRO-OPTIC  AND SPACE  TECHNOLOGIES.  THE
COMPANY FOCUSES ON THE UPGRADING OF EXISTING  MILITARY  PLATFORMS AND DEVELOPING
NEW TECHNOLOGIES FOR DEFENSE AND HOMELAND SECURITY APPLICATIONS.

CONTACTS:

        Ilan Pacholder, VP Finance               Marilena LaRosa
        Elbit Systems Ltd                        The Anne McBride Company
        Tel:  972-4 831-6632                     Tel: 212-983-1702 ext. 208
        Fax: 972-4 831-6659                      Fax: 212-983-1736
        Pacholder@elbit.co.il                    mlarosa@annemcbride.com



STATEMENTS  IN THIS PRESS  RELEASE  WHICH ARE NOT  HISTORICAL  DATA ARE FORWARD-
LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER
FACTORS  NOT UNDER THE  COMPANY'S  CONTROL,  WHICH  MAY  CAUSE  ACTUAL  RESULTS,
PERFORMANCE OR ACHIEVEMENTS  OF THE COMPANY TO BE MATERIALLY  DIFFERENT FROM THE
RESULTS,  PERFORMANCE  OR OTHER  EXPECTATIONS  IMPLIED BY THESE  FORWARD-LOOKING
STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE DETAILED IN THE
COMPANY'S PERIODIC FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.