NEW YORK, December 13, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - There have many major incidents around the world that caused concerns for public safety. As a result of continuous threats from inspired terror attacks in Europe and the United States, new technologies designed to contribute to security and surveillance are gaining popularity. According to a recent research by MarketsandMarkets the security and surveillance radar markets are expected to grow at a CAGR rate of 5.97% and reach $8.61 billion in value by 2020. The new technologies and innovative projects include a wide variety of advancements in different fields, including Biometrics, Cloud Based Security, Big Data, Cybersecurity, Explosives Trace Detection (ETD), Standoff Explosives & Weapon Detection, Tomographic Explosive Detection Systems and more. Patriot One Technologies Inc. (OTC: PTOTF) (TSX-V: PAT.V), TASER International Inc. (NASDAQ: TASR), General Dynamics Corporation (NYSE: GD), Raytheon Company (NYSE: RTN), Boeing Co. (NYSE: BA)
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. According to the research, a large number of civil applications of radars are also applied to military purposes, especially for weather detection, navigation radars, and radars used for surveillance and security purpose and the control of weapons by the military.
Patriot One Technologies Inc. (OTCQB: PTOTF) (TSX-V: PAT.V) is approaching the security and surveillance radar market in a different way. Patriot One is a company that specifically focuses on detection of concealed weapons. The company states that along with a research team at McMaster University, a well-respected Canadian center for research, and led by the expert guidance of Dr. Natalia Nikolova (EEE Fellow, CAE Fellow, P.Eng. Professor, Canadian Research Chair in High-Frequency Electromagnetics) they have come together to commercialize a system designed to detect concealed weapons utilizing novel radar technologies.
The product, which is called the NForce CMR1000. The device is cost-effective and be installed in hallways and doorways to covertly identify weapons and to alert security of potential threats. Patriot One's technology is its "cognitive" ability to detect guns and knives as well as to assess threats. The system is trained prior to installation and continues to learn upon deployment, getting better and smarter at detecting hidden weapons with each screening instance. Currently, Patriot One's NForce CMR1000 covert concealed weapons system prototype development program is continuing to lead towards a fully integrated alpha demonstration product. Preparations for a series of upcoming field studies employing real-world threat scenarios will include the participation of several leading Canadian and U.S. commercial and public sector partners, which will help evaluate NForce alpha product performance through Q1 2017.
On November 28th Patriot One announced that the common shares of the company are commenced quotation on the OTCQB Venture Marketplace under the symbol "PTOTF". Patriot One's common shares are also quoted on the Frankfurt and TSX Venture Exchanges. Martin Cronin, CEO of Patriot One Technologies Inc. stated, "The OTCQB increases accessibility and flexibility for current and future shareholders, especially those who live in the U.S., to trade and access Patriot One's common shares. It also gives us access to a more expansive capital pool… It's time to make soft targets hard without impacting citizens' rights and freedoms. We believe, as do many others, that NForce promises a practical solution to prevent many violent acts that can lead to loss of life, and we plan to deliver on that promise."
The security and surveillance radar market is as popular as ever in its more traditional setting as a military defense technique. General Dynamics Corporation (NYSE: GD) is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence and surveillance. Earlier this year the company announced that it has completed the construction and walk-through of the 7,000 square-foot radar receive array structure that is part of the U.S. Air Force Space Fence radar system. The structure was built at General Dynamics' Wortham, Texas, precision manufacturing facility. With the array structure complete, the General Dynamics Space Fence team will carefully dismantle the 700,000-pound steel structure and ship it to Kwajalein Atoll, Marshall Islands, for reassembly and integration into the Space Fence system.
TASER International Inc. (NASDAQ: TASR) Smart Weapons help act with self-assurance in the field. The company produces Tasers to save lives, decrease injuries to officers and suspects, and defend the truth with firing logs. Having firing logs help regulate when an event occurred, how long a weapon was armed, and when the trigger was held, so having additional data points to justify decisions made in the field. The company's Smart Weapons also work seamlessly with other Axon solutions, letting officials to have a better understanding of what happened on scene. A TASER Smart Weapon can wirelessly report its status, such as being armed or a trigger pull, so your Axon cameras can sense specific events and activate recording to the user capture vital footage during critical situations.
Raytheon Company (NYSE: RTN) together with its subsidiaries, is a technology company with a on development of technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence. The company has invested heavily on the research and development of radar over the years. Electro-optical sensors, and other advanced electronics systems have also been recurring in various projects. Notable is the company's long partnership with Boeing Co. (NYSE: BA) on the development of satellite sensors.
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