Exhibit 12.2

**Certification by Chief Financial Officer Pursuant to Section 302 of        the**

**Sarbanes-Oxley Act of 2002**

 

I, Joseph        Gaspar, certify that:

 

| 1. | I have reviewed this annual report on Form 20-F of Elbit                        Systems Ltd. |
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| 2. | Based on my knowledge, this annual report does not contain                        any untrue statement of a material fact or omit to state a material fact                        necessary to make the statements made, in light of the circumstances under                        which such statements were made, not misleading with respect to the period                        covered by this annual report. |
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| 3. | Based on my knowledge, the financial statements, and other                        financial information included in this annual report, fairly present in all                        material respects the financial condition, results of operations and cash                        flows of the registrant as of, and for, the periods presented in this                        annual report. |
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| 4. | The registrant’s other certifying officer and I are                        responsible for establishing and maintaining disclosure controls and                        procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))                        and internal control over financial reporting (as defined in Exchange Act                        Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
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|   | a) | Designed such disclosure controls and procedures, or caused                        such disclosure controls and procedures to be designed under our                        supervision, to ensure that material information relating to the                        registrant, including its consolidated subsidiaries, is made known to us by                        others within those entities, particularly during the period in which this                        report is being prepared;

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|        | b) | Designed such internal control over financial reporting, or                        caused such internal control over financial reporting to be designed under                        our supervision, to provide reasonable assurance regarding the reliability                        of financial reporting and the preparation of financial statements for                        external purposes in accordance with generally accepted accounting                        principles;

                                 |
|        | c) | Evaluated the effectiveness of the registrant’s                        disclosure controls and procedures and presented in this report our                        conclusions about the effectiveness of the disclosure controls and                        procedures, as of the end of the period covered by this report based on                        such evaluation; and

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|        | d) | Disclosed in this report any change in the                        registrant’s internal control over financial reporting that occurred                        during the period covered by this annual report) that has materially                        affected, or is reasonably likely to materially affect, the                        registrant’s internal control over financial reporting.                                                                                                                  |

         

| 5. | The registrant’s other certifying officer and I have                        disclosed, based on our most recent evaluation of internal control over                        financial reporting, to the registrant’s auditors and the audit                        committee of the registrant’s board of directors (or persons                        performing the equivalent functions): |
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|   | a) | All significant deficiencies and material weaknesses in the                        design or operation of internal control over financial reporting which are                        reasonably likely to adversely affect the registrant’s ability to                        record, process, summarize and report financial information; and |
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|   | b) | Any fraud, whether or not material, that involves management                        or other employees who have a significant role in the registrant’s                        internal control over financial reporting. |
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Date: May        28, 2008

 

 

|   | By:    | /s/ Joseph Gaspar                                                           |
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|   |   | Joseph Gaspar                                                               |
|   |   | Executive Vice President and Chief Financial                        Officer |
|   |   | (Principal Financial and Accounting Officer)                                |