NEW YORK, March 17, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
According to a research published by Global Market Insights the defense market size is anticipated to exceed USD 10.5 billion by 2023, growing at a CAGR of over 6.1% from 2016 to 2023. The growth can be attributed to
innovations and advancements made in defense technology. Countries such as China, Israel and Russia see significant spending hikes on defense markets. As of
2015, U.S spends around 54% of its fiscal budget for military utilities and accounted for 37% of the overall industry share.
Patriot One Technologies Inc. (OTC: PTOTF) (TSX-V: PAT.V), Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS), TASER
International (NASDSAQ: TASR), United Technologies Corporation (NASDAQ: UTX), Raytheon Company (NASDAQ: RTN)
For 2017, Deloitte indicates that the global aerospace and defense industry is likely to experience stronger growth. Following
multiple years of positive, but low and stable rate of growth, Deloitte's report forecasts the sector revenues will likely grow
by about 2 % in 2017. Defense budgets in the US, United Kingdom, France, Japan, several Middle Eastern countries, and other nations are
increasing at a time when national security threats are being focused on by governments equipping their armed forces with modern
defense weapons platforms and next-generation technologies, including cyber, intelligence gathering, and defense electronics.
Patriot One Technologies Inc. (OTCQB: PTOTF) (TSX-V: PAT.V) has developed a first-of-its-kind, Cognitive Microwave
Radar concealed weapons detection system as an effective tool to combat active shooter threats before they occur. Designed for
cost-effective deployment in weapon-restricted buildings and facilities, the NForce CMR1000 software solution and related
hardware can be installed in hallways and doorways to covertly identify weapons and to alert security of an active threat
entering the premises.
Yesterday, Patriot One Technologies announced that, 'its first of two panels, as well as guest speakers, at ISC West's Vendor
Solution Showcase in Las Vegas, NV on April 5, 2017. Patriot One
will host a panel of security experts from the private and public sectors, including the entertainment and education spaces to
discuss measures to deter, detect and defend against today's threats of terrorism and active shooter violence.'
On March 15th, Patriot One Technologies announced that, 'it has entered into a Memorandum of
Understanding ("MOU") with the University of North Dakota ("UND") for a real-world pilot study aimed
at evaluating product efficacy in this active public environment. The installation of Patriot One system, in a location which is
yet to be determined at the campus, will provide for a period of technology configuration and data collection. Upon successful
completion of the study, it is the intent of both parties to explore a commercial arrangement that may expand the scope of the
technology solution to encompass additional facilities and locations at the University.'
National Security Solutions provider, Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS), announced that its
subsidiary, Composite Engineering Inc., is a subcontractor to Dynetics, which has been selected for award on Phase II of the
Defense Advanced Research Projects Agency/Air Force Research Laboratory Gremlins program. Under the Phase II contract, CEi will
be a critical team member and will support Dynetics by designing, developing and building prototype Gremlin Unmanned Aerial
Vehicles, tooling, and support equipment, as well as developing performance analyses, supporting subsystem testing, and planning
for potential future phases. "As a leading innovator of cutting-edge technology in the Unmanned Aerial Systems arena, and in line
with our future objectives and internal development efforts over the past several years, Kratos is continuing to broaden our
offering of high-performance unmanned jet aircraft, to include the Gremlin UAV, which fits a performance and cost niche
comfortably inside our current range of target and tactical unmanned aircraft," said President and Chief Executive Officer of
Kratos, Eric DeMarco.
Axon, a business unit of TASER International (NASDSAQ: TASR) and the global leader in connected apps and devices for
law enforcement, announced multiple large orders of its body-worn video cameras and digital evidence management solution. These
orders were received in the fourth quarter of 2016 and first quarter of 2017. They were shipped in the fourth quarter of 2016 and
will continue shipping throughout multiple phases in 2017. "We're thrilled to see the accelerating adoption of our technology by
our law enforcement customers," said Rick Smith, CEO and Co-Founder of TASER International.
"Recent wins from our first State & Provincial police customers, Nevada Highway Patrol and
Georgia State Patrol, are great examples of where our investments in new product lines like the
Fleet in-car camera solution are impacting purchase decisions today. We're looking forward to continuing the expansion of the
Axon network with new products like the Axon Signal Sidearm, our new Records Management System (RMS) and new Axon Artificial
Intelligence capabilities in 2017 and beyond."
Lenel, who is part of United Technologies Corporation (NASDAQ: UTX), and Everbridge Inc. announced an alliance to
interface their leading solutions. With the combination of Lenel's OnGuard® platform and Everbridge's Safety Connection®
software, organizations will now be able to offer comprehensive security management on-premises and off-premises - to help
protect and notify employees, contractors or visitors during critical incidents regardless of their location. With the Everbridge
interface, system users can now aggregate data about severe weather, terrorism and other incidents and use last-known location
data to locate potentially at-risk individuals and nearby first responders and enable two-way communication.
Raytheon Company (NASDAQ: RTN) and the U.S. Air Force validated performance of an upgraded navigation system for the
Miniature Air Launched Decoy-Jammer (MALD-J) in six flight tests from B-52 and F-16 aircraft at White Sands Missile Range, N.M.
The system upgrade, designated as GAINS II (GPS Aided Inertial Navigation System), includes an enhanced multi-element GPS
controlled antenna assembly. This new technology improves MALD-J navigation performance in a GPS jamming environment.
Improvements and efficiencies within the design helped to reduce GAINS II unit costs. "Improving performance while reducing costs
is a win for Raytheon and our customer," said director of MALD Programs for Raytheon, Brian
Burton.
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