LONDON, January 18, 2017 /PRNewswire/ --
There have been several shifts in the defense industry over the last few years. The reason for some of the changes is the increasing concern over mass shootings in public locations. According to a recent research report conducted by IHS Markit, the global defense trade increased at a record pace last year, with the value of the market growing to $65 billion in 2015. The United States has remained the largest exporter for defense equipment, supplying $22.9 billion worth of equipment, which is a major increase from $12.9 billion in 2009. Patriot One Technologies Inc. (TSX-V: PAT.V) (OTC: PTOTF), TASER International, Inc. (NASDAQ: TASR), Lockheed Martin Corporation (NYSE: LMT), United Technologies Corporation (NYSE: UTX), Northrop Grumman Corporation (NYSE: NOC)
A major portion of the defense market is the radar systems. This market is expected to grow at a CAGR of 5.39% from 2016 to 2021 according to a report by Marketsandmarkets. The report indicates that based on application, the radar systems market has been segmented into defense and commercial. The commercial radar segment is expected to lead the radar systems market in 2016. The radar systems market has been segmented into short, medium, and long range radars. Long range segments are the largest share to the whole market, as they are in demand by defense sector in several countries.
Patriot One Technologies Inc. (TSX-V: PAT.V) (OTCQB: PTOTF) has developed a system which is an innovative radar technology designed to warn first responders and security personnel in Active Threat scenarios. The technology offers stand-off detection of concealed weapons typically employed in public locations. The company claims that what makes the technology unique is its 'cognitive' ability to detect guns and knives as well as to assess threats. The system, called the NForce CMR1000, is trained prior to installation and continues to learn upon deployment, getting better and smarter at detecting hidden weapons with each screening instance.
Patriot One Technologies Inc. was mentioned on FoxNews.com that, some nightclubs in Orlando are looking to deploy radar-based weapons detection technology in the aftermath of last year's deadly mass shooting at a gay nightclub, Pulse. Weapons detection specialist Patriot One Technologies announced on Tuesday that it is partnering with VGroup Concepts to launch a 'Safe Districts' initiative. VGroup Concepts is a management company of several restaurants and clubs in Orlando. A major challenge for locations such as schools, clubs and stadiums, is that they often have limited security, making them 'soft targets,' according to Patriot One Technologies. The partnership with VGroup Concepts aims to boost safety at Orlando venues via the company's NForce CMR 1000 detection system. Read full article here: http://www.foxnews.com/tech/2017/01/17/orlando-nightclubs-deploy-radar-technology-to-detect-weapons.html
Yesterday, Patriot One Technologies announced that it has entered an agreement with VGroup Concepts of Orlando, Florida. The partnership will create a demo showcase of the Company's NForce CMR1000 software solution and radar device from January 2017 through January 2018. The parties furthermore agreed to install the NForce CMR1000 solution and radar device at VGroup entertainment properties around the Orlando area before the end of the term with the ultimate goal of establishing a safe districts initiative.
CEO & Director of Patriot One Technologies, Martin Cronin, said in a statement, "We are very excited to partner with VGroup Concepts with our NForce CMR1000 pilot program, and to further help the City of Orlando, Orange County, and the great State of Florida's desire to create the world's safest entertainment center. Our number one goal at Patriot One is to offer a solution that works with today's security professionals to help deter, detect and defend against active threats of violence on innocent citizens everywhere."
Innovative public safety technologies, TASER International, Inc. (NASDAQ: TASR) recently confirmed the order for 930 TASER X26P™ Smart Weapons for New South Wales Police, 800 X26s for the Queensland Police Service, and 855 TASER® X2™ Smart Weapons for the New Zealand Police. "These international Smart Weapon orders are a crucial part of ongoing business focus," says Rick Smith, CEO and co-founder of TASER International. "Australia and New Zealand were two of our earlier adopters of TASER weapons that have proven to reduce injuries to suspects and officers time and time again there. We commend their continuing paths to a world where every officer has the best technology and training to minimize the chances of a deadly encounter," concluded Smith.
Global security and aerospace company, Lockheed Martin Corporation (NYSE: LMT) will soon launch the next Space Based Infrared System (SBIRS) satellite on aboard a United Launch Alliance Atlas V rocket. The SBIRS GEO Flight 3 will be the next in a series of Air Force satellites that will deliver multi-mission surveillance in the areas of missile warning, missile defense, technical intelligence and battlespace awareness. The data provided by the satellite can also be applied to a number of qualified government and civilian applications, including first response for natural disasters and firefighting. "At Lockheed Martin, we understand the Air Force's important mission to protect our nation and allies around the world, as well as the critical role that SBIRS plays in their continued ability to respond to evolving threats," said David Sheridan, Vice President of Lockheed Martin's Overhead Persistent Infrared systems mission area.
United Technologies Corporation (NYSE: UTX) is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The company's security division has built in an essential alarm system to deter and detect intruders, allowing users to access control of the video surveillance systems to streamline operations, and now its security solutions are available from a single shop to a global enterprise. The company operates through three other segments, which are Otis, Pratt & Whitney, and UTC Aerospace Systems.
Northrop Grumman Corporation (NYSE: NOC) is a global security company that provides innovative systems, products and solutions to the government and commercial customers worldwide, posing an extraordinary portfolio of capabilities and technologies for applications from undersea to outer space and into cyberspace. The company is a leading provider of the C4ISR systems, the backbone of operations and decision making. Its systems provide situational awareness from planning to execution by delivering analysis systems through an advanced communications and integrated solutions that support the U.S. and allied forces across the world. The company's other core capabilities include Cyber, Logistics & Modernization, Autonomous Systems, and Strike.
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