NEW YORK, August 5, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on RADA Electronic Industries Ltd (NASDAQ: RADA). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=RADA
Highlights from our RADA Report include:
- Recent Sale of MHR - On July 28, 2015, the Israel-based defense electronics contractor, RADA Electronic Industries Ltd (RADA) announced that a branch of the US military has purchased its radar hardware platform, Multi-Mission Hemispheric Radar (MHR). As stated in the release, the US military's objective behind the purchase is to test and evaluate the capabilities of MHR.
- MHR in Demand - Prior to this purchase by the US military, MHRs were also purchased by other leading US integrators and end users, for purposes similar to that of the US military. Previously on July 06, 2015, RADA announced the purchase of MHR by a leading European defense contractor. With this purchase, this contractor became the second major European defense contractor who purchased this particular radar hardware platform of the Company.
- MHR: a brief introduction - MHR is an S-Band, software-defined, Pulse-Doppler, active electronically scanned array radar, having sophisticated beam forming capabilities and advanced signal processing, which provides multiple missions on each radar platform and offers unprecedented performance-to-price ratio. For force and border protection applications such as counter rockets and mortars, counter unmanned aerial systems, ground moving target indicator and air surveillance; MHR provides ideal organic and tactical surveillance solutions.
- Operational applications - As mentioned at the Company's website's Product-line page, MHR currently offers three operational applications, i.e. RPS-40, RPS-42 and RHS-44. While detecting, tracking and classifying threats which are fired at stationary or mobile forces, the RPS-40 radar system computes the Point-Of-Origin (POO) and Point-Of-Impact (POI) of the threats. The threats may be Rockets, Artillery, Mortars (RAM), ATGMs, RPGs, Low QE, among others. The RPS-42 tactical air surveillance radar system, detects, classifies and tracks all types of aerial objects, including, fighters, helicopters, UAVs, transport aircraft, and others, at altitudes from 30ft to 30,000ft, within a radius of up to 30km. Another member of the MHR family, the RHS-44 Radar System provides comprehensive border protection through the detection, classification and tracking of aerial and surface intruders such as slow and small aircraft, vehicles, vessels and pedestrians, at ranges of up to 40km.
- Management's Comments - Expressing his pleasure over the selection of MHR by the European Defense Contractor, RADA's Chief Executive Officer, Zvi Alon remarked, "It is an additional vote of confidence by a world-leading defense contractor for the unique capabilities that the MHR has to offer in this field. We are confident that the radars ordered during the last few weeks indicate the broad industry recognition of their advantages." On the purchase of MHR by the US military, he further said, "We are very pleased with the growing interest in our radars by the US market, which we believe will be one of the most important markets for our radar technology."
To find out how this influences our rating on RADA Electronic Industries Ltd, read the full report in its entirety here: http://www.aciassociation.com/?c=RADA
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