PALM BEACH, Fla., Sept. 17, 2020 /PRNewswire/ -- Recent industry reports may differ in their revenue projections but they do agree that the numbers will continue to rise in the coming several years. Increasing threats from high-speed missiles and aircraft have led to an increase in demand for surveillance and fire control radars. Rise in the defense spending of emerging economies, growing regional tensions, and an increasing number of inter-country conflicts are major factors driving the military radars market. The increasing deployment of ballistic and stealth missiles in active war zones has also led to a significant increase in the demand for military radars across the globe. Other applications of military radars include airborne fire control, surveillance activities, ground mapping, and coastal surveillance. The use of military radars in all these applications is fueling the growth of the military radars market, globally. A report from MarketsAndMarkets projects that the military radars market is projected to grow from USD 14.0 billion in 2020 to USD 17.4 billion by 2025, at a CAGR of 4.4% during the forecast period, while another report from Fortune Business Insights projects a higher value saying that the Military Radar market size will reach USD 24.36 billion by 2027. Active tech companies in the markets this week include Cubic Corporation (NYSE: CUB), Plymouth Rock Technologies Inc. (CSE: PRT) (OTCQB: PLRTF), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), L3Harris Technologies, Inc. (NYSE: LHX), Raytheon Technologies (NYSE: RTX).
The report stated that the global market value stood at USD 14.66 billion in 2019. According to the Stockholm International Peace Research Institute (SIPRI), in 2019, the total military expenditure rose to USD 1917 billion, globally. Rising by 3.6% from 2018 levels, the largest spenders, who accounted for 62% of the total spending, were the US, China, India, Russia, and Saudi Arabia. Growth in military expenditure in some of the strongest economies in the world bodes well for this market as this would mean increased adoption of advanced defense technologies. Military radar systems, which are critical for militaries to conduct threat detection and surveillance operations, are also likely to experience surging demand as countries look to strengthen their defense capabilities.
Plymouth Rock Technologies Inc. (CSE: PRT) (OTCQB: PLRTF) BREAKING NEWS: PLYMOUTH ROCK SIGNS LETTER OF INTENT WITH R3 TECHNOLOGIES TO BRING COMPACT THREAT DETECTION RADAR TO MARKET - Plymouth Rock Technologies ("Plymouth Rock", "PRT", or the "Company"), a leader in the development of cutting-edge threat detection technologies, is pleased to announce that the company has executed a Letter of Intent (LOI) with New Mexico-based R3 Technologies Inc. ("R3T") to collaborate on the market readiness, alternative use and sale of stand-off threat detection solutions to the US and international markets. R3T specializes in microwave radar detection systems, providing scientific and engineering capabilities to USA government laboratories and the US Department of Defense. PRT and R3T have collaborated to bring an ultra-compact bomb and concealed weapon detector, called CODA-1 (Cognitive Object Detection Apparatus), to market.
CODA-1 is a lightweight radar detection system that uses microwave frequencies in the X-Band spectrum region, an established operating band for many security and radar applications. Due to its short wavelength X-Band is essential for basic cognitive identification and classification of both dangerous and common everyday items. CODA-1 will have its AI (Artificial Intelligence) algorithms set to the detection of concealed weapons, such as suicide bombs, assault weaponry and large bladed weapons from 3-10 feet. The CODA-1 has received extensive independent testing within the US Government, and will be available for evaluation and sale to government and military clients with existing checkpoint and search permissions commencing in the fourth quarter 2020.
"Over the past decade, the PRT and R3 founders have worked in collaboration with the US Army Technical Support and Operational Analysis (TSOA) and Night Vision and Electronic Sensors Directorate on military and airport technology acceleration for the next generation of stand-off detection," stated Carl Cagliarini, Chief Strategy Officer of PRT. "The CODA system will now be introduced to several existing US Government agencies including the Department of Homeland security APEX screening at speed directive." (https://www.dhs.gov/science-and-technology/apex-screening-speed)
Other key applications for the CODA-1 radar include use at military checkpoints to screen personal coming into a FOB (Forward Operating Base), transportation hub security checks such as entrance points in airports, subway, bus terminals etc., federal government facilities, embassies, sporting events and concerts.
PRT also envisions the CODA-1 system being integrated on our X1/XV drones and currently available security robots for threat detection in unstructured crowds. These types of robots add an additional layer of security in busy parking lots/structures, shopping malls, hospitals and corporate campuses.
"For R3T, this LOI is a significant milestone with PRT," stated Robby Roberson CEO & President of R3T. "The first product to market, the CODA-1, will commercially launch this fall, under the PRT brand. It is our intention that future R3T developments, non-classified government programs and commercial offerings will be made available exclusively through the PRT brand and sales channels." Read this and more news for PRT at: https://www.plyrotech.com/news/
Other recent developments in the defense and tech industries include:Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, recently announced that it is offering CMMC pre-certification advisory services to commercial organizations and Department of Defense (DoD) contractors seeking CMMC compliance. CMMC advisory services currently include strategic and operational consulting services, gap assessment and remediation services, and documentation services.
As Mark Williams, Vice President, Kratos Cybersecurity Services explained: "Unlike most organizations offering CMMC Advisory services, Kratos is one of the first and largest FedRAMP third party assessment organizations (3PAO), is a member of the Defense Industrial Base (DIB) and sells to the DoD. As a result, we have a unique understanding and insight into how CMMC requirements impact DIB organizations and what can/should be done to satisfy these requirements." FedRAMP is a U.S. government-wide certification program in which all cloud service providers (CSPs) must be authorized to provide cloud services to the U.S. Government.
L3Harris Technologies (NYSE: LHX) recently announced that they will lead a team to help transform the U.S. Air Force's flight simulator training used to help develop highly skilled air crews. The team will help the Air Force develop a set of common standards for simulator design and operation. Simulators are built by multiple providers using unique interfaces, which makes training updates difficult. SCARS' stricter cybersecurity criteria will enable the Air Force to link simulators together, perform remote software updates and enrich the training environment.
There are approximately 2,400 simulators across 300 locations that will be updated with the new common architecture over the next few years. The initial task order covers nine sites and integrates new standards into the A-10 and KC-135 platforms.
Cubic Corporation (NYSE: CUB) recently announced Nuvotronics, which operates within its Cubic Mission and Performance Solutions (CMPS) business division received certifications from the Defense Microelectronics Activity (DMEA) as a Trusted Source for Post Processing and Package/Assembly services. Nuvotronics is one out of approximately 80 contractors in the U.S. to be certified. Nuvotronics is now a part of the DMEA's Trusted Access Program Office (TAPO), which provides the Department of Defense (DoD) with trusted and assured suppliers of microelectronics parts essential to combat operations.
"This certification will support the continued evolution of our innovative and proven additive manufacturing process that offers trusted solutions for the advancement of U.S. platforms," said Martin Amen, vice president and general manager, Cubic Nuvotronics. "Additionally, it gives our customers the added reassurance in our advanced technologies particularly within 5G and Satellite Communications."
"The Post Processing and Package/Assembly trusted services accreditation puts Nuvotronics in a unique and exclusive position to provide the U.S. government and its supporting subcontractors with a consistent, reliable and secure supply chain, free from counterfeit or manipulated electronic parts," said Mike Knowles, president of Cubic Mission and Performance Systems. "We are honored to be included among the DMEA-accredited suppliers for the DoD."
Raytheon Missiles & Defense, a Raytheon Technologies (NYSE: RTX) business, and RAFAEL Advanced Defense Systems Ltd., an Israeli-based defense technology company, have signed a joint venture to establish an Iron Dome Weapon System production facility in the United States. The new partnership, called Raytheon RAFAEL Area Protection Systems, anticipates finalizing a site location before the end of the year.
"This will be the first Iron Dome all-up-round facility outside of Israel, and it will help the U.S. Department of Defense and allies across the globe obtain the system for defense of their service members and critical infrastructure," said Raytheon Missiles & Defense Systems' Sam Deneke, vice president of Land Warfare & Air Defense business execution.
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