NEW YORK, December 19, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - According to a recent comprehensive 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 if defense equipment, supplying $22.9 billion worth of equipment which is a major increase from $12.9 billion in 2009. The research explains that the jump in demand for defense technology is due to tensions in areas including the South China Sea, sustained demand in the Middle East, and a revival of the French defense system. Patriot One Technologies Inc. (OTCQB: PTOTF) (TSX-V: PAT.V), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), United Technologies Corporation (NYSE: UTX), TASER International, Inc. (NASDAQ: TASR), Lockheed Martin Corporation (NYSE: LMT)
A significant portion of the defense sector is the security and surveillance radar market which is expected to grow at a CAGR rate of 5.97% and reach $8.61 billion in value by 2020, as was projected by a report from MarketsandMarkets. The global security & surveillance radar market is broken into three major segments: land-based, maritime, and airborne radar. It is also segmented into defense application and civilian application.
Patriot One Technologies Inc. (OTCQB: PTOTF) (TSX-V: PAT.V) 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. earlier today just announced that, "it has engaged Ridge Global LLC ("Ridge Global") as a strategic advisor to support the Company's market penetration in the United States.
Led by Tom Ridge, former Governor of Pennsylvania and the first U.S. Secretary of the Department of Homeland Security, Ridge Global LLC represents a significant partnership for the Company. Patriot One expects its work with Ridge Global could generate key relationships, opportunities, and support strategic engagement and enhanced service for prospective Patriot One customers.
Ridge Global was founded by Governor Ridge to help organizations decrease security risks. He has assembled a team of globally recognized experts who offer strategic counsel on identifying, preparing for and mitigating cyber risk. For more information on Ridge Global please visit: http://www.ridgeglobal.com .
Patriot One CEO, Martin Cronin, states, "We are tremendously pleased to announce this partnership. Working with a company with the stature and reach of Ridge Global could greatly accelerate the exposure of our groundbreaking technology to key potential users. Governor Ridge has an unparalleled grasp of the challenges facing those charged with the safety of the American public and we are proud of the confidence he has shown in our technology."
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) offers various technologies, products and solutions focused on the United States and its allies' national security. The Company's segments include Kratos Government Solutions (KGS), Unmanned Systems (US) and Public Safety & Security (PSS). The company's video surveillance solutions include advanced video technologies such as facial recognition, subject tracking, public area video image display, transmission to printers, and hand-held devices of security officers. These technologies can be integrated with most access control systems - for intrusion detection, fire detection, and building automation.
United Technologies Corporation (NYSE: UTX) is a provider of high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. The company's Interlogix intrusion solutions feature advanced technologies that work together, including sophisticated surveillance cameras for homes and businesses.
TASER International, Inc. (NASDAQ: TASR) is manufacturer of conducted electrical weapons designed for use by law enforcement, military, corrections and private security personnel, and by private individuals for personal defense. On December 8th the company announced that it has received orders for a total of 400 TASER X2 Smart Weapons for the Massachusetts State Police and a total of 369 X2s for the California Highway Patrol. Both of these orders were received and are expected to ship in the fourth quarter of 2016.
Lockheed Martin Corporation (NYSE: LMT) focused on research, design, integration and sustainment of advanced technology systems, products and services. The company's land-based radars are solid state radar systems that specialize in early warning, situational awareness, and tactical ballistic missile surveillance and defense, while operating completely unmanned. These surveillance systems detect targets at ranges up to 250 miles, 24 hours a day, and many have performed for years beyond their life cycle in remote, inhospitable areas.
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