NEW YORK, July 12, 2021 /PRNewswire/ -- Look at the news and you will hear of daily reports of gun violence, civil unrest, and other threats to national security. The rise in these threats has fueled the need for advanced and modern security solutions to detect threats effectively. Companies within the defense and concealed weapon defense sector are taking up the challenge by developing innovative solutions to detect and analyze threats. At the same time, these companies have the opportunity to benefit from the security, public safety, and national security market, which is expected to grow to $658 billion by 2026. Companies such as Liberty Defense Holdings Ltd. (TSX-V: SCAN) (OTCQB: LDDFF), WRAP Technologies Inc. (NASDAQ:WRAP), General Dynamics, (NYSE:GD), Lockheed Martin Corp. (NYSE:LMT), and KratosDefense and Security Solutions Inc. (NASDAQ:KTOS) are implementing technology to develop modern security solutions.
Liberty Defense Continues to Advance its Next-Gen Security Technologies
Liberty Defense Holdings Ltd. (TSXV:SCAN) (OTC:LDDFF), a leader in the weapon detection industry, was recently awarded a $1 million grant from the Binational Industrial Research Development Foundation (BIRD) to support the development of a detection solution that is based on electromagnetic imaging and artificial intelligence (AI). The threat solution will be used in the detection of threats and concealed items in wide-open areas.
"The threat of terrorism, both domestic and international, is on the rise, and we are focused on developing those next-generation technologies that will provide the necessary level of sophistication to thwart these modern threats," said Bill Frain, CEO of Liberty Defense adding that, "This includes taking a layered approach to security. The fusion of Liberty and Levitection technologies will provide additional capabilities to achieve this in environments with high foot traffic."
Then in July, Liberty Defense signed the Cooperation and Project Funding Agreement with the Israel-US BIRD Foundation for $1 million and kicked off the project on July 1 in partnership with Levitection. According to the release, the integration of Liberty's HEXWAVE™ and Levitection's Q™ technologies, will offer even further performance advantages through a layered, multi-sensor, contact-less, public safety security solution to identify covert threats.
Liberty Defense Holdings also recently announced a license agreement with global research and development company Battelle Memorial Institute to develop a next-generation checkpoint screening solution. As part of the agreement, Liberty Defense licensed the Millimeter wave-based, High Definition Advanced Imaging technology (HD-AIT) body scanner and shoe scanner technologies that will enhance security screening at airports.
Liberty's HD-AIT received early-stage funding from the Department of Homeland Security and the shoe scanner technology is currently undergoing testing and evaluation. Pacific Northwest National Laboratory (PNNL), which is one of eight US Department of Energy national laboratories managed by Battelle, developed both the HD-AIT and shoe scanner technologies. In 2020, the shoe screener received an R&D Magazine 100 award.
"The aviation security market needs new technologies that can address emerging threats while also offering efficient passenger throughput," said Bill Frain, Liberty's CEO, "We will continue the development of HD-IAT by leveraging the experience of our multi-disciplined engineering team as we see many parallels to the development of our HEXWAVE platform, a contactless security solution for concealed weapons detection in high volume foot traffic areas."
Liberty Defense has also received significant market demand in its recently upsized brokered private placement, which increased from C$5 million to C$7.1 million. Liberty intends to use the proceeds to fund development of its HD-AIT and shoe scanner technologies as well as further development of the company's HEXWAVE technology.
Defense Companies Develop Technologies in Support National Security Missions
Wrap Technologies Inc. (NASDAQ:WRAP), a public safety company and developer of safe policing technologies continues to record successful outcomes with BolaWrap. BolaWrap is a remote restraint device that allows police officers to restrain persons without injury (or excessive force). Police in Defiance, Ohio lately demonstrated the success of BolaWrap after restraining a suicidal male subject who intended to commit suicide by cop. The bodycam footage from the officer shows them deploying BolaWrap to restrain the subject before safely taking him to hospital for an evaluation, marking the third time these officers used BolaWrap to restrain a person successfully
Global aerospace and defense company General Dynamics, (NYSE:GD) received $696 million in contracts from the US Air Force Life Cycle Management Center through its wholly owned subsidiary, Gulfstream Aerospace Corp. Through the Engineering Service Contract (ESC), Gulfstream will provide dedicated resources supporting C-20G, C-37A and C-37B aircrafts for the US Air Force, Army and Navy.
Meanwhile, global security and aerospace company Lockheed Martin Corp. (NYSE:LMT) was selected by the Missile Defense Agency (MDA) to deliver America's most advanced missile defense system, the Next Generation Inceptor (NGI). According to the press release, the $3.7 billion contract for the NGI will serve as a first line of a layered missile defense framework against evolving threats and is a national priority for the MDA and US Northern Command.
At the same time, leading National Security Solutions provider Kratos Defense and Security Solutions Inc. (NASDAQ:KTOS) has received multiple awards totaling over $46 million to support Space Domain Awareness (SDA) efforts. Kratos, which develops and fields technology platforms and systems for US National Security-related customers, allies and commercial enterprises, is leveraging its OpenSpace software platform technology to help satellite ground systems quickly adapt to changing conditions.
As concerns for public safety and national security grow, companies such as Liberty Defense Holdings Ltd. have the opportunity to utilize their technology to create security products that help in the detection of these threats.
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