Ondas Receives its Latest Purchase Order for the Iron Drone Raider Counter-Drone System from a Major Defense Company

Rhea-AI Summary

Ondas Holdings (NASDAQ:ONDS) has received a new purchase order for its Iron Drone Raider counter-drone system from an Israeli defense company. The order is part of an integration process aimed at expanding distribution to military and homeland security users. During Q3 2024, Ondas Autonomous Systems secured defense market orders totaling $14.4 million, including $9.0 million in orders from a major government military customer for the Iron Drone Raider system. The system, commercially launched last year, has been enhanced to meet military requirements and is being deployed to protect critical infrastructure from hostile drones.

Positive

• Secured new purchase order from Israeli defense company
• Q3 2024 defense market orders totaled $14.4 million
• Major government military customer placed $9.0 million in orders
• System enhancement completed to meet military requirements
• Expansion into defense sector with potential for additional orders

Negative

• None.

Insights

Defense Industry Analyst

The latest purchase order for Iron Drone Raider represents strategic expansion in the defense sector, building on $14.4 million in Q3 orders, including $9.0 million from a major military customer. The C-UAS market is experiencing rapid growth due to increasing drone threats to critical infrastructure. Iron Drone Raider's AI-integrated capabilities and minimal collateral damage approach position it competitively in the counter-drone space. The integration with an Israeli defense company suggests potential for significant market penetration, considering Israel's advanced defense ecosystem. This development indicates strong revenue potential and market validation for Ondas's defense portfolio, particularly important given their current market cap of $62.8 million.

Market Research Analyst

This purchase order signals positive momentum in Ondas's defense sector strategy, particularly meaningful given their relatively small market capitalization. The company's ability to secure multiple defense contracts in Q3 2024 demonstrates product validation and market acceptance. The focus on military-grade specifications and homeland security applications opens up a substantial addressable market. The partnership with an Israeli defense company could accelerate market penetration, as Israeli defense technologies often become reference points for global military procurement. The expected additional orders over the next 12 months suggest a strong pipeline for revenue growth.

Purchase order to facilitate future orders and deployments of the system with new defense and homeland security customers

As a unique AI-integrated interception drone system, the Iron Drone Raider offers a new method for neutralizing hostile drones while minimizing collateral damage

Commercially launched last year, the Raider system has been enhanced to meet specific military requirements and has already received orders from leading military and defense organizations

BOSTON, MA / ACCESSWIRE / November 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 its Ondas Autonomous Systems Inc. ("OAS") business unit's Airobotics subsidiary has received a purchase order for its Iron Drone Raider counter-uncrewed aircraft system (C-UAS) from an Israeli defense company. This order, which was placed as part of an integration process between the companies, aims to expand the distribution of the system for additional military and homeland security governmental end users.

"We are building our presence in the defense sector by introducing the Iron Drone Raider platform to important players in the market with capabilities that are tailored for military deployments," said Eric Brock, Chairman and CEO of Ondas. "We believe this system offers best-in-class specifications and will help protect borders and critical infrastructure in countries worldwide"

During the third quarter of 2024, OAS secured several initial orders in the defense market, totaling approximately $14.4 million, which included several purchase orders totaling $9.0 million from a major government military customer for the Iron Drone Raider system. The Iron Drone Raider systems are being deployed as a core element of a multi-layered homeland security infrastructure to protect critical locations, assets and populations from the threat of hostile drones. Ondas expects to secure additional orders, including new customers and distribution partners, and to support C-UAS infrastructure expansion over the next twelve months.

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 Systems 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.

Ondas Autonomous Systems Inc. (OAS) specializes in designing, developing, and marketing autonomous drone solutions via its two advanced drone platforms: the Optimus System, the world's first FAA-certified small UAS (sUAS) for aerial security and data capture, and the Iron Drone Raider, a counter-drone system designed to combat hostile drones. Both platforms are highly automated, AI-powered, and capable of continuous, remote operation for critical defense, infrastructure, industrial, and government applications. American Robotics and Airobotics have achieved industry-leading regulatory milestones, including the first-ever FAA Type Certification for the Optimus System and the first drone system approved by the FAA for automated beyond-visual-line-of-sight (BVLOS) operations without an on-site human operator. Ondas Networks, American Robotics and Airobotics together provide users in defense, homeland security, public safety and other critical industrial and government security and infrastructure markets with improved connectivity, situational awareness and data collection and information processing capabilities.

Ondas Networks, American Robotics and Airobotics together provide users in defense, homeland security, public safety and other critical industrial and government security and infrastructure markets with improved connectivity, situational awareness 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. For additional information on Ondas Autonomous Systems, follow us on 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
ir@ondas.com

Media Contact for Ondas

Preston Grimes
Marketing Manager, Ondas Holdings Inc.
preston.grimes@ondas.com

SOURCE: Ondas Holdings Inc.

View the original press release on accesswire.com

FAQ

What is the total value of Ondas Holdings (ONDS) defense orders in Q3 2024?

Ondas Holdings secured defense market orders totaling $14.4 million in Q3 2024, including $9.0 million from a major government military customer for the Iron Drone Raider system.

What is the purpose of Ondas Holdings' (ONDS) Iron Drone Raider system?

The Iron Drone Raider is a counter-drone system designed to neutralize hostile drones while minimizing collateral damage, protecting critical infrastructure, assets, and populations.

When did Ondas Holdings (ONDS) commercially launch the Iron Drone Raider system?

The Iron Drone Raider system was commercially launched in 2023 and has since been enhanced to meet specific military requirements.