Additional volume orders are expected in the second half of 2024 based upon combat success in operational conditions
The Iron Drone Raider system is a unique, innovative counter-drone system using an autonomous AI-guided interception drone launched from a designated docking station
This direct purchase from a government military customer positions Ondas as a prime defense contractor and Iron Drone as a new, potentially leading solution, for the $1.6 billion counter-drone market
MARLBOROUGH, MA / ACCESSWIRE / July 22, 2024 / Ondas Holdings Inc. (NASDAQ:ONDS) ("Ondas" or the "Company"), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, announced today that it has received an initial purchase order from a military customer for several Iron Drone Raider (the "Raider") counter-drone systems. The systems are to be deployed and operated as part of military defense activities to protect from hostile drones threatening borders, critical locations, populations and defense forces.
The initial purchase comes after the Company accelerated the development of the Iron Drone Raider system to address certain specific, military-grade requirements of defense and homeland security forces. Ondas prioritized this development to meet urgent security needs related to ongoing geopolitical conflicts across the world. Additional Raider follow-on orders and deployments are anticipated to meet an ongoing, urgent need for protection from hostile drones.
"We are excited to receive our initial Iron Drone Raider order directly from a military customer, positioning Ondas as a prime defense contractor for this high-performance counter-drone system, " said Eric Brock, Chairman and CEO of Ondas. "The Raider has best-in-class specifications designed to protect critical locations and populations from the rapidly growing threat posed by hostile drones. This Raider platform, powered by proprietary, advanced autonomy software and integrated sensors is a major asset in Ondas' portfolio. We believe this unique AI-enabled technology can provide a highly reliable, cost-effective solution to hostile drones compared to alternatives, which are typically expensive and often cause significant collateral damage when deployed. We are excited to deliver the Raider to our initial military customer and plan to offer the platform to defense and security customers worldwide."
The ongoing conflicts in Ukraine, Israel and other places worldwide highlight the increasingly prevalent threat posed by small, hostile drones which are deployed with increasing frequency for both aerial surveillance and kamikaze attacks. A variety of countermeasures exist, such as jamming GPS reception or the manual control of radio communications, which can effectively neutralize some drones. However, drones operating autonomously or without communications can only be halted through physical interception or shooting which are not always available and possible without causing dangerous collateral damage.
Addressing this challenge, the Iron Drone Raider system has been developed and engineered to tackle all kinds of hostile drones, irrespective of their navigation methods. The system operates by deploying a high-speed interceptor drone named Raider, that identifies and "locks on" incoming hostile drones while navigating using sophisticated AI-enabled sensor technology operating along a "Continuum of Autonomy". The Continuum of Autonomy entails the integration of ground-based and on-board thermal and micro-radar sensors with an AI-powered command and control software capability enabling the autonomous deployment and operation of the Raider at high speeds and responsiveness in complex, GPS-denied environments.
When deployed, the Raider drone locates, tracks and hunts the hostile drone target and incapacitates it with a net. To ensure a safe descent, the net can be attached to a parachute which gently lowers the captured drone to the ground. The Raider drone returns to its location of launch after a mission for reuse. The entire process is fully automated and includes a docking station that can store and launch up to five Raider drones simultaneously.
The global market for counter-drone applications is approximately $1.6 billion in size in 2023 and is expected to expand at a 27.8% CAGR to $14.9 billion by 2032, according to Beyond Market Insights. Ondas believes that demand for Counter-UAS capabilities is currently being generated by government customers, with defense and homeland security applications driving the majority of spending for the protection of borders, populations and critical government locations. As both hostile drone threats and civil aviation regulations evolve, Ondas believes non-defense and commercial markets will also demonstrate significant end market growth to protect critical infrastructure assets. An Ondas subsidiary is currently building manufacturing capacity to support adoption of the Iron Drone Raider in the rapidly growing market for counter-drone solutions.
About Ondas Holdings Inc
Ondas Holdings Inc. ("Ondas") is a leading provider of private wireless data solutions via Ondas Networks Inc. ("Ondas Networks") and commercial drone solutions through Ondas Autonomous Holdings Inc. via its wholly owned subsidiaries American Robotics, Inc. ("American Robotics" or "AR") and Airobotics LTD ("Airobotics"), which we operate as a separate business unit called Ondas Autonomous Systems.
Ondas Networks is a developer of proprietary, software-based wireless broadband technology for large established and emerging commercial and government markets. Ondas Networks' standards-based (802.16s), multi-patented, software-defined radio FullMAX platform enables Mission-Critical IoT (MC-IoT) applications by overcoming the bandwidth limitations of today's legacy private licensed wireless networks. Ondas Networks' customer end markets include railroads, utilities, oil and gas, transportation, aviation (including drone operators) and government entities whose demands span a wide range of mission critical applications.
Our Ondas Autonomous Systems business unit designs, develops, and markets commercial drone solutions via the Optimus System™ - the world's first FAA certified small UAS (sUAS) developed for aerial security and data capture and the Iron Drone Raider™ (the "Autonomous Drone Platforms"). The Autonomous Drone Platforms are highly automated, AI-powered drone systems capable of continuous, remote operation and are marketed as "drone-in-a-box" turnkey data solution services. They are deployed for critical industrial and government applications where data and information collection and processing are required. The Autonomous Drone Platforms are typically provided to customers under a Data-as-a-Service (DaaS) business model. American Robotics and Airobotics have industry leading regulatory successes which include a first of its kind FAA Type Certification for the Optimus System and having the first drone system approved by the FAA for automated operation beyond-visual-line-of-sight (BVLOS) without a human operator on-site.
Ondas Networks, American Robotics and Airobotics together provide users in oil & gas, rail, mining, agriculture, public safety and other critical infrastructure and government markets with improved connectivity and data collection and information processing capabilities.
For additional information on Ondas Holdings, visit www.ondas.com or follow Ondas Holdings on X formerly known as Twitter and LinkedIn. For additional information on Ondas Networks, visit www.ondasnetworks.com or follow Ondas Networks on X and LinkedIn. For additional information on American Robotics, visit www.american-robotics.com or follow American Robotics on X and LinkedIn. For additional information on Airobotics, visit www.airoboticsdrones.com or follow Airobotics on X and LinkedIn.
Information on our websites and social media platforms is not incorporated by reference in this release or in any of our filings with the U.S. Securities and Exchange Commission.
Forward-Looking Statements
Statements made in this release that are not statements of historical or current facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.
Contacts
IR Contact for Ondas Holdings Inc.
888.350.9994 x1019
ir@ondas.com
Media Contact for Ondas
Preston Grimes
Marketing Manager, Ondas Holdings Inc.
Preston.grimes@ondas.com
SOURCE: Ondas Holdings Inc.
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