FinancialBuzz.com News Commentary
NEW YORK, Jan. 29, 2020 /PRNewswire/ -- Over the course of the last decade, the rising number of mass shootings at public places has renewed the focus on innovative threat-detection technologies. Various commercial enterprises such as malls, cafes and theaters are exploring using advanced technological systems to prevent unfortunate events and accidents. For example, earlier in 2018, the retail giant Walmart announced that it had tested facial recognition technology for its security systems. However, the cost for these new state-of-the-art technologies is also rising and governments have now had to increase their spending in order to lock in contracts and supply their specific military branches. Countries such as China, Israel, Russia, and the U.S. allocate a significant portion of their budgets into defense. For example, in 2019 the U.S. "Department of Homeland Security" estimated a security budget worth USD 51.7 Billion for the fiscal year 2020, compared to the USD 47.5 Billion budget for the fiscal year 2019. Business and governments are also investing in Artificial Intelligence (AI) and the Internet of Things (IoT) technologies to further enhance these systems, which in turn, is anticipated to help support the threat-detection systems market in the near future. Additionally, according Zion Market Research, the global threat-detection systems market accounted for USD 70.2 Billion in 2018 and is expected to reach USD 163.4 Billion by 2025. It is also expected to expand at a CAGR of around 12.8% between 2019 and 2025. First Responder Technologies Inc. (CSE: WPN), Patriot One Technologies Inc. (OTC: PTOTF), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Unisys Corporation (NYSE: UIS), Cubic Corporation (NYSE: CUB)
Currently, the threat-detection market is very segmented. By type, the global threat-detection systems market is fragmented into explosive detection, radiological and nuclear detection, narcotics detection, chemical and biological detection, intrusion detection, and others. Overall, the video-surveillance systems segment is expected to grow considerably in the future, in large part thanks to the increasing demand for surveillance cameras in developing economies of the Asia-Pacific region. Meanwhile, the gunshot-detection system market is also projected to grow from USD 726.3 Million in 2016 to USD 3,099.8 Million in 2022 while at a CAGR of 27.36%, according to a report by MarketsandMarkets. The report also indicates that, based on installation type, the gunshot-detection systems market is dominated by the fixed segment, and this segment is projected to grow at the highest CAGR during the forecast period. Fixed gunshot-detection systems use the acoustic sensor node detection technology to ascertain a gunshot event and installations are carried out at a specific height from the ground.
First Responder Technologies Inc. (CSE: WPN) announced earlier last week the, "appointment of Ambassador (Ret.) Howard Gutman, former United States Ambassador to Belgium and former Special Assistant to the Director of the Federal Bureau of Investigation ("FBI"), and Brigadier General (Ret.) John Jayet, former commander of a number of French Army units, including a military intelligence regiment, to its Advisory Council.
'First Responder's strategic thought leadership in this space, and operational network in the United States, Europe and the Middle East, is greatly enriched by having Ambassador Gutman and General Jayet join the Advisory Council,' said Hon. Stockwell Day, PC, Head of the Advisory Council.
Ambassador Gutman acted, during his distinguished career over the past three decades, as a leading American and international lawyer, and served in a number of high-profile appointments for the government of the United States, including Ambassador to Belgium, and Special Assistant to the Director of the FBI for Counter-Intelligence and Counter-Terrorism. During his legal career he served as a federal appellate court law clerk prior to entering private practise in Washington, DC., where in addition to legal practise, he served as advisor to candidates for President, Governor and the U.S. Senate.
General Jayet commanded, during his distinguished French military career, a number of units of the French Army, including a military intelligence regiment, and was a member of the special forces. His military career included service as a member of the cabinet of French Minister of Defense, and as a defense attaché in the Middle East. General Jayet participated in a number of operational deployments during his career, in some of the world's worst conflict areas, including deployments to Africa, Lebanon and the Balkans. Among other appointments, General Jayet served as head of the French military attaché organisation, and his career included a particular focus on security and safety procedures respecting the protection of French Embassy personnel and installations.
'First Responder's ability to conceive and develop products to detect, interdict and deter mass shooter and terrorist attacks is greatly enhanced by the collective law enforcement, military and intelligence backgrounds Ambassador Gutman and General Jayet bring to the Advisory Council,' said the Company's Chief Executive Officer, Robert Delamar.
Ambassador Gutman and General Jayet will continue First Responder's efforts, begun at Milipol (Paris, France) in November of 2019, and International Security Expo (London, UK) in December of 2019, to educate and inform the global security community, with a particular focus on Europe and the Middle East, about First Responder's leading WiFi-based weapons detection technology and product strategy.
About First Responder Technologies Inc.: First Responder Technologies Inc. (the "Company") is a technology development company that commercializes academic and internally developed intellectual property for use in the public safety market. The Company is developing a WiFi-based technology, based in part, on academic research licensed from Rutgers, the State University of New Jersey ("Rutgers") that can be used to detect concealed weapons. The Company's threat detection technology line of business was created to capture a significant portion of the global weapons detection systems market, and in particular, the global perimeter security detection market. In the Company's view, WiFi-based threat detection technology may be utilized by a wide range of facilities, including schools, places of worship, shopping centres and theatres, to not only make their premises secure, but also reduce their cost of security, from the interior of a facility to the perimeter."
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Patriot One Technologies Inc. (OTCQX: PTOTF) announced recently the receipt of a purchase order for its PATSCAN Multi-Sensor Covert Threat Detection Platform from its security system integrator/reseller partner Ginter Electrical of Ohio and Mt. Healthy City School District in Mt. Healthy, Ohio. "We're excited with our growing list of deployments of our PATSCAN Platform with schools and universities across the US, including our work with education clients and Ginter Electrical," shared Martin Cronin, Patriot One CEO and President. "Through these initial school and university-based deployments, our Platform will provide invaluable data and learnings, which will help each future installation and deployment across a vast array of unique environments and venues. We're honored to have been selected by Mt. Healthy City Schools to begin deploying our covert threat detection platform which will help create a safer campus and community for their students, parents and staff." The PATSCAN Multi-Sensor Covert Threat Detection Platform has been shipped to Ginter Electrical, where they will be joined by Patriot One engineers and Mt. Healthy City School District security and engineering teams to begin testing for deployment of the solution. Specific location of the Platform's deployment will not be disclosed.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, announced last December that its Command, Control, Communications, Computing, Combat, Intelligence, Surveillance and Reconnaissance (C5ISR) Modular Systems Division has recently received an approximate $50 million, single award, indefinite delivery, indefinite quantity (IDIQ) product and hardware related contract award in support of a national security related program. Initial tasking and funding under this new contract award has already been received by Kratos. Kratos C5ISR Modular Systems Division is a leading provider of products, hardware, systems and subsystems in support of unmanned aerial vehicle, high powered directed energy, missile, missile defense, radar, surface combatant and other combat and weapon systems and programs. Work under this recent contract award will be performed in secure Kratos production facilities. Due to customer related, competitive and other considerations, no additional information will be provided related to this recent contract award.Tom Mills, President of Kratos C5ISR Modular Systems Division, said, "The recapitalization of strategic weapon systems to address peer and near peer threats of the United States and its allies is providing a number of large, new program opportunities to our business, including in the Missile System, Missile Defense, Radar, Space, Unmanned and Combat System areas, and we are proud to address mission critical national security priority areas."
Unisys Corporation (NYSE: UIS) announced in May 2018, that U.S. Customs and Border Protection (CBP), part of the Department of Homeland Security (DHS), has selected the company to develop, operate and manage systems used for risk assessments of people and cargo entering the U.S. by the agency's Targeting and Analysis Systems Program Directorate (TASPD). Unisys developed and launched LineSight for international governments in March 2018. LineSight is new software that uses advanced data analytics and machine learning to help border agents more accurately assess risk associated with travelers or cargo shipments before admitting them into a country.
Cubic Corporation (NYSE: CUB) reported in earlier years that Cubic Mission Solutions, a business division of Cubic Corporation received a three-year extension award of $1.4 million from UAV Tactical Systems Ltd. (U-TacS) to provide additional Tactical Common Data Links for U.K. Ministry of Defence's Watchkeeper Unmanned Aircraft System (UAS) program. The Watchkeeper program, which is recognized as Europe's largest and most extensive UAS program, provides U.K. armed forces with essential Intelligence, Surveillance, Target acquisition and Reconnaissance. The Watchkeeper system provides continuous surveillance in all weather conditions and eliminates the need to deploy aircrews into sensitive or harmful environments. U-TacS is responsible for development, integration, test flights and manufacture of the UAS' subsystems, including unmanned aircraft, ground control station and other systems.
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