PALM BEACH, Florida, Oct. 10, 2019 /PRNewswire/ -- While most people think of Facebook or Google when they hear the words "Artificial Intelligence" (AI), but in reality, it just may turn out to be military applications that are anticipated to be driving the sector in the coming years. AI has become a critical part of modern warfare globally while handling massive amounts of military data in a more efficient manner as compared to conventional systems. Increase in funding from military research agencies and rise in R&D activities to develop advanced AI systems are key factors projected to drive the increased adoption of AI systems in the military sector. AI has become a critical part of modern warfare globally. AI technologies can handle massive amounts of military data in a more efficient manner as compared to conventional systems. Increase in funding from military research agencies and rise in R&D activities to develop advanced AI systems are key factors projected to drive the increased adoption of AI systems in the military sector. Active companies in the markets this week include Hawkeye Systems, Inc. (OTCQB: HWKE), Lockheed Martin Corporation (NYSE: LMT), Raytheon Company (NYSE: RTN), L3Harris Technologies, Inc. (NYSE: LHX), Northrop Grumman Corporation (NYSE: NOC).
A recent report from Zion Market Research, projected that the global artificial intelligence in military market was valued at approximately USD $4.8 Billion in 2018 and is expected to generate around USD $16.3 Billion by 2026, at a CAGR of around 14.5% between 2019 and 2026. The report continued: "The increasing demand for developing military equipment in collaboration with artificial intelligence to enhance the security on borders, growing development of chipsets underneath artificial intelligence, and rising acceptance of cloud services by military are contributing toward the artificial intelligence in military market globally. The enhancing operational effectiveness of autonomous systems and rising adoption of artificial intelligence to develop logistics, planning, and transportation in military are said to be generating new opportunities for artificial intelligence in military market.
Hawkeye Systems, Inc. (OTCQB: HWKE) BREAKING NEWS: Hawkeye Systems, a next-generation imaging technology company, announced today Radiant Images, an award-winning technology provider to customers worldwide, installed its volumetric (a.k.a. holographic / 4D video) capture system for Sony Innovation Studios Inc., a division of Sony (NYSE: SNE) Pictures Entertainment (SPE). As previously reported, the Company has agreed to acquire Radiant Images.
Radiant Images' award-winning AXA Stage is a modular volumetric light field stage that utilizes 100+ cameras inside a sphere and captures the action from every possible viewpoint to create a more engaging and dynamic immersive experience for virtual reality, augmented reality, XR and all forms of immersive experiences and future of communication devices.
"The potential of AXA is extraordinary, and we're pleased to be working with Sony as partners to enhance the future of interactive experiences for audiences," said Corby Marshall, founder, and chief executive officer of Hawkeye Systems. "We are pleased that our award-winning AXA stage is an integral component for Sony's future of holographic videos such as volumetric and light field stages.
Radiant Images' proprietary patent-pending image capture systems have dramatically accelerated the next technology cycle. The AXA's highly accurate camera positioning is essential for automation and algorithms for all volumetric and light field capture, placing the system on the cutting edge of this technology.
"The AXA Stage is not only disruptive to the picture industry but also a true outlier in the way that it can provide data and intelligent information in real-time," said Michael Mansouri, co-founder of Radiant Images. "Our team was determined to amplify the way film is captured today, and we're excited to see that Sony believes in our achievements and efforts."
Earlier this week Hawkeye Systems announced that it has entered into a Cooperative Research and Development Agreement (CRADA) with the Department of Defense(DOD).
The CRADA agreement marks a pivotal milestone for Hawkeye to work collaboratively with the DOD within their various departments to streamline process and further build upon their technology capabilities. Hawkeye will work exclusively to provide technologies and systems that meet DOD capability gaps.
Hawkeye Systems is tasked with developing innovative technologies, materials, components, material combinations, software, modeling, simulations and systems for various DOD applications. The goal is to provide an enhanced operational capability to DOD assets through the development of novel solutions and technologies. Through the interaction and cooperation authorized by this CRADA, the DOD and Hawkeye Systems will develop technologies tailored for Department of Defense needs.
"The CRADA is a true testament to the work and capabilities of our core technology and systems, and we're excited to be collaborating with the DOD," said Corby Marshall, founder and chief executive officer of Hawkeye Systems. "At Hawkeye, we have the ability to create sustaining products that will not only help improve DOD operations, but also can make a difference for the different components of the DOD that benefit from our unique technologies."
Hawkeye Systems will also add U.S. Navy Consultant, Shawn Petre, as a principal consultant focusing on all issues related to the Department of Defense. Mr. Petre has served in the U.S. Navy and will bring over 22 years of experience as a Naval Aviator.
"Hawkeye's cutting-edge technology has received high praise from the U.S. military, which is extremely encouraging. The military needs their technology capabilities to assist military operations regarding ground and airborne surveillance and reconnaissance," said Shawn Petre. "Having worked with the best teams in the Department of Defense, I understand the current needs that exist for Hawkeye's technology and the gaps we can fill. I look forward to securing more contracts and opportunities for our company." Read this and more news for Hawkeye Systems at: https://www.financialnewsmedia.com/news-hwke/
Other recent developments in the tech industries include:Lockheed Martin Corporation
(NYSE: LMT) recently announced that it has been awarded a $281 million contract by the United States Army to develop the Sentinel A4 radar system. Sentinel A4 is a high-performance modification of the Sentinel A3 (AN/MPQ-64A3) air and missile defense radar that will provide updates to improve the existing Sentinel capability against cruise missiles, unmanned aerial systems, rotary wing and fixed wing threats.
The new Sentinel A4 radar will provide improved surveillance, detection, and classification capabilities against current and emerging aerial threats in order to protect Army maneuver formations and high value static assets to include: command and control nodes, tactical assembly areas and geo-political centers. This needed capability will help protect our warfighters for the next 40 years.
Raytheon Company (NYSE: RTN) recently announced that it will develop new space systems and flight software, and provide engineering, training and operations support for NASA's Jet Propulsion Laboratory, managed by Caltech, under a five-year, $150 million contract. The contract could potentially be worth $300 million over 10 years if all options are exercised.
Work on the new contract is expected to begin in October, though Raytheon has supported JPL since the 1960s, when the company developed the Mars Infrared Radiometer for the Mariner missions. The company currently manages the lab's data systems, testing and developing software and providing on-call technical support during critical events like Mars rover landings.
L3Harris Technologies, Inc. (NYSE: LHX) recently announced that it had completed the previously announced sale of the Harris Night Vision business to Elbit Systems of America, LLC (ESA) for $350 million in cash. Proceeds from the transaction will be used to pre-fund the L3Harris pension.
L3Harris divested the business as part of the regulatory process relating to the merger of Harris Corporation and L3 Technologies in June 2019. L3Harris retained the legacy L3 Warrior Mission Solutions business that develops and manufactures fully qualified, advanced night vision and electro-optical systems and components for the U.S military, law enforcement, first responder agencies and allied nations across the globe.
Northrop Grumman Corporation (NYSE: NOC) recently announced organization changes to its operating sectors to better align the company's broad portfolio to serve its customers' needs. There will be four operating sectors: Aeronautics Systems, Defense Systems, Mission Systems and Space Systems. The changes are effective Jan. 1, 2020.
"This new operating structure allows us to take full advantage of our company's portfolio by aligning businesses that have shared markets, customers and technologies," said Kathy Warden, chairman, chief executive officer and president of Northrop Grumman. "It will accelerate our ability to rapidly identify and deliver the technologies, products and services our customers need, and fuel our continued growth and execution."
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