Chipotle Mexican Grill is experimenting with a robot that can produce tortilla chips in a retail setting. At least two sites for Sweetgreen will have automated salad makers. Starbucks also hopes that new coffee-making tools will make baristas’ jobs easier. As operators rushed to find answers for a declining workforce and rising wages, this year saw a flurry of automation announcements in the restaurant sector. The progress has been patchy, and experts predict it will be years before robots become profitable for businesses or replace employees. According to the National Restaurant Association, three-quarters of restaurant owners need more staff to operate at full capacity. Of course, the restaurant industry isn’t the only one turning to robots amid labor shortages. For instance, Knightscope (NASDAQ:KSCP) fights crime with robotic security guards. L3Harris Technologies (NYSE:LHX), General Dynamics (NYSE:GD), KratosDefense and Security Solutions Inc. (NASDAQ:KTOS), Lockheed Martin Corp. (NYSE:LMT) are also investing in security solutions.
Knightscope (NASDAQ:KSCP), based in Silicon Valley, is an advanced security technology company that makes Autonomous Security Robots (ASRs). These robots use revolutionary technology that has been shown to help fight crime and has the potential to be the biggest change to public safety in history, bringing us closer to a robot-secured world.
On December 29, Knightscope announced four new contracts for a total of seven Autonomous Security Robots (ASRs) as part of its end-of-year push to support the company’s commitment to keep adding to its top-line revenue.
Knightscope’s new clients include one of the best commercial real estate brokerage and property management firms in Houston, which has signed a contract for one K1 Hemisphere and one K1 Tower to protect a large parking structure at one of its many properties; a church in Missouri; a Houston-based company that makes high-quality lubricants and other products for the automotive, industrial, and drilling markets hired Knightscope earlier in 2022 to help better protect its property; and a company that invests in real estate and has homes in 14 US states which is making its second order of two K5 ASRs, one K1 Tower, and Knightscope+ remote monitoring service.
One week earlier, Knightscope announced six new contracts spanning multiple US states for four of its Autonomous Security Robots (ASR) and four Blue Light Emergency Communication systems.
In fact, Knightscope has continued to grow its client base over the last few months. Its roster of clientele now includes the government, public institutions and commercial businesses including Fortune 1000 companies, entertainment venues, hospitals, school campuses, storage facilities, logistics, manufacturing plants and more.
Knightscope was also recently featured in a broadcast via NetworkNewsAudio (NNA). This solution provides additional visibility, recognition, and brand awareness in the investment community through distribution to thousands of syndication points. The audio news release discusses Knightscope’s recent acquisition of the company’s largest single contract in its history and two new contracts from cities in New York and Georgia.
According to the Council on Criminal Justice, aggravated assaults, robberies, non-residential burglaries, larcenies, and motor vehicle thefts all went up in the first half of 2022. This gives security leaders plenty of reason to look into new technologies like those offered by Knightscope.
For more information about Knightscope, Inc. (NASDAQ:KSCP), click here.
Security Companies’ Recent Developments
L3Harris Technologies (NYSE:LHX) announced on December 22 that it has received all regulatory approvals for its purchase of the Tactical Data Link product line from Viasat. This product line is more commonly known as Link 16. On October 3, 2022, the company announced that it had signed a final agreement to buy the TDL network. The deal was supposed to close in the first half of 2023. Now that the U.S. government and allies have given their approval, the deal is expected to close on January 3, 2023. The product line has nearly 450 employees and makes about $400 million in sales annually. It is installed on over 20,000 U.S. and allied platforms worldwide, allowing warfighters in different domains to share voice and data communications safely. L3Harris wants to update the technology by adding advanced tactical data links to the existing Link 16 network. This will give the technology a level of resilience that fits the changing needs of electronic warfare and JADC2.
On December 19, General Dynamics (NYSE:GD) announced that its CFO, Jason Aiken, will become executive vice president of the Technologies segment on January 1, 2023. Aiken will keep doing his job as a chief financial officer, but his leadership role will grow. Christopher Marzilli has been Technologies’ executive vice president since 2019. He has told the company that he plans to retire at the beginning of 2023. Since January 2014, Aiken has been the company’s senior vice president and chief financial officer. General Dynamics is a global aerospace and defense company offering a wide range of products and services in business aviation, shipbuilding and repair, land combat vehicles, weapons systems, ammunition, and technology. General Dynamics has more than 100,000 employees all over the world and made $38.5 billion in 2021.
On December 27, KratosDefense and Security Solutions Inc. (NASDAQ:KTOS) announced that its Defense & Rocket Systems business supported the successful intercept test of a medium-range ballistic missile (MRBM) target by a Standard Missile 3 (SM-3) Block IIA fired from the JS Maya (DDG 179). This is the first time a Japanese Maya-class destroyer has fired an SM-3 Block IIA. The intercept was the most exciting part of the Japan Flight Test Aegis Weapon System-07 (JFTM-07) event, which took place over two weeks at the Pacific Missile Range Facility (PMRF) in Hawaii and involved four Kratos subscale ballistic missile targets. The event was put on by the Japan Maritime Self-Defense Force (JMSDF) and the United States Missile Defense Agency (MDA). During the event, the Kratos team also helped with a live-fire event where the JS Haguro hit a target with a short-range ballistic missile (SRBM) (DDG 180). Together, Kratos and its Government and industry partners integrated and launched three MRBM targets and one SRBM target to help with these mission-critical national security exercises.
The US Navy announced on December 27 that the Sikorsky CH-53K® helicopter will be made at full rate. This means that over the next few years, more than 20 helicopters will be made each year. Sikorsky, which is owned by Lockheed Martin (NYSE:LMT), is buying long-lead items and critical materials so that it can build CH-53K helicopters at full rate production in its digital factory. This decision to make the CH-53K at full speed gives confidence to the network of more than 200 CH-53K suppliers in 34 states. As a result of the Marine Corps’ commitment to the CH-53K, suppliers can buy in bulk, saving time and money for the U.S. military and its international allies.
Meanwhile, Knightscope is focused on creating and deploying Autonomous Security Robots that will aid in its long-term goal of making the United States the safest country in the world.
Featured Image Depositphotos @ VadimVasenin
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1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.
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