PALM BEACH, Florida, Feb. 12, 2020 /PRNewswire/ -- Global demand for augmented reality has become explosive. In fact, according to Global Market Insights, the market for AR products could surge up to 85% to $165 billion in the next four years. One of the top sectors where we're already seeing sizable demand is weapons. For example, the U.S. Army wants to buy enough AR goggles to outfit nearly half of all close combat forces, according to Marine Corp Times. "The service released its fiscal year 2020 budget, which will have to go through lengthy scrutiny and likely changes by Congress before becoming official, and is requesting 40,219 Integrated Visual Augmentation Systems, or IVAS." All of this is creating sizable opportunity for companies including NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR), American Outdoor Brands Corp. (NASDAQ:AOBC), Vista Outdoor Inc. (NYSE: VSTO), Sturm Ruger & Company Inc. (NYSE: RGR), and Lockheed Martin Corporation (NYSE: LMT).
NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, the leader in augmented reality for e-commerce and AR learning applications, has received a new order from Walther Arms, most famous as the manufacturer of James Bond's Walther PPK. Walther has been a NexTech customer since April 2019 and has had multiple expansion contracts in 2019 with the company. Walther has now signed a new 2020 expansion contract for three more AR experiences. Cody Osborn marketing manager at Walther Arms comments: "NexTech has provided Walther customers a unique experience in shopping for their handgun. We have seen a significant increase in time spent on each webpage that features the Augmented Reality button that NexTech has provided. Our new 2020 lineup of products continue to push the boundaries of performance in pistols, the Augmented Reality allows the customer to immerse themselves in every detail of the model before purchasing, furthering Walther's status as a performance leader."
Evan Gappelberg, CEO of NexTech comments: "Getting re-orders for our AR technology from Walther is a powerful affirmation and speaks volumes about how our customers feel about our product. Cody and Walther have recognized the unique and powerful advantage augmented reality can have in their marketing and sale of its products. We are looking forward to continuing to expand our partnership with Walther into even more areas in 2020 such as product training, which provides huge value and growth opportunities for both of our companies."
Other defense-related developments from around the markets include:
American Outdoor Brands Corp. (NASDAQ: AOBC) announced that its Board of Directors has named Mark P. Smith and Brian D. Murphy as co-Presidents and co-Chief Executive Officers of American Outdoor Brands Corp., effective immediately. Smith was most recently President of the Manufacturing Services Division of the company, while Murphy was most recently President of the Outdoor Products & Accessories Division. In their co-leadership roles, Smith and Murphy succeed James Debney, who has separated as President and Chief Executive Officer and as a Director of the company, following the determination by the Board of Directors that he engaged in conduct inconsistent with a non-financial company policy. The company is proceeding with its previously announced plan to spin-off its outdoor products and accessories business as a tax-free stock dividend to its stockholders in the second half of calendar 2020, a transaction that would create two independent publicly traded companies: Smith & Wesson Brands, Inc. (which would encompass the firearm business) and American Outdoor Brands, Inc. (which would encompass the outdoor products and accessories business). Jeffrey D. Buchanan, Chief Financial Officer, will continue to serve as the lead executive on coordinating and executing the separation of the two businesses.
Vista Outdoor Inc. (NYSE: VSTO) reported operating results for the third quarter of its Fiscal Year 2020 (FY20), which ended on December 29, 2019. "We are pleased to see continued stabilization of the ammunition market, alongside year over year growth for many of our brands. Notably, our Ammunition business delivered positive revenue growth for the first time in eleven quarters," said Vista Outdoor Chief Executive Officer Chris Metz. "While the external environment remains fluid, we continue to favorably position Vista Outdoor to deliver strong, profitable growth, and increased free cash flow. I am confident in the plans we have in place, and in our team's ability to successfully deliver on our full year expectations for Fiscal Year 2020."
Sturm Ruger & Company Inc. (NYSE: RGR) will announce its financial results for the fourth quarter and year-end 2019 and file its Annual Report on Form 10-K on Wednesday, February 19, 2020, after the close of the stock market. On Thursday, February 20, 2020, Sturm, Ruger will host a webcast at 9:00 a.m. ET to discuss the fourth quarter and year-end 2019 operating results. Interested parties can access the webcast at Ruger.com/corporate or by dialing 855-871-7398, participant code 3039214.
Lockheed Martin Corporation (NYSE: LMT) delivered the second of two KC-130J Super Hercules aerial refuelers to representatives from France's Armée de l'Air on Feb. 4, at the company's Aeronautics facility in Marietta, Georgia. France has received a total of four Super Hercules aircraft — two C-130J-30 combat delivery airlifters and two KC-130J aerial refuelers — through a Foreign Military Sale with the U.S. government. The two C-130J-30 airlifters were delivered in 2017 and 2018, and first KC-130J delivered in September 2019. All of these Super Hercules are operated in conjunction with France's existing C-130H fleet. "France's C-130 crews have long demonstrated the unmatched and proven performance of the Hercules aircraft in support of critical missions," said Rod McLean, Vice President and General Manager, Air Mobility & Maritime Missions at Lockheed Martin. "This additional KC-130J expands the Armée de l'Air's already robust airlift and refueling resources to not only serve as a national asset, but a global resource as well."
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