Ondas Secures Expansion of its Initial Purchase Order of Iron Drone Raider Systems Received from a Major Military Customer for Immediate Deployment

Rhea-AI Summary

Ondas Holdings Inc. (NASDAQ:ONDS) has received an expansion of its initial purchase order for Iron Drone Raider counter-drone systems from a military customer. The expansion includes additional features and support services for systems to be deployed in military defense activities. The Iron Drone Raider system, described as one of the most advanced counter-drone solutions available, uses AI-enabled sensor technology and a high-speed interceptor drone to neutralize hostile drones.

The expansion order reflects the urgent demand for high-performance counter-UAS systems in response to growing threats from hostile drones. Ondas is positioning itself as a prime defense contractor in the rapidly growing counter-UAS market, which is expected to expand from $1.6 billion in 2023 to $14.9 billion by 2032, with a 27.8% CAGR.

Positive

• Expansion of initial purchase order for Iron Drone Raider systems from a military customer
• Positioning as a prime defense contractor in the rapidly growing counter-UAS market
• Global counter-drone market expected to grow from $1.6 billion in 2023 to $14.9 billion by 2032 (27.8% CAGR)
• Additional volume orders expected in the second half of 2024 based on combat success

Negative

• None.

Insights

Defense Technology Analyst

The expansion of Ondas' initial purchase order for Iron Drone Raider systems signifies a significant development in counter-drone technology. This system's ability to neutralize autonomous drones without causing collateral damage addresses a critical gap in current defense capabilities. The AI-enabled "Continuum of Autonomy" is particularly noteworthy, allowing for operation in GPS-denied environments – a important feature in modern warfare scenarios.

The market potential is substantial, with projections indicating a $14.9 billion market by 2032, growing at a 27.8% CAGR. This rapid growth reflects the escalating threat of hostile drones in various conflicts. Ondas' positioning as a prime defense contractor in this space could lead to significant revenue opportunities, especially if their system proves effective in real-world deployments.

Military Strategist

The expansion of the Iron Drone Raider order underscores the urgent need for advanced counter-UAS capabilities in modern military operations. The system's ability to capture hostile drones with minimal collateral damage is a game-changer, particularly in urban or sensitive environments where traditional kinetic solutions are problematic.

The automated nature of the Raider system, including its docking station capable of launching multiple drones, suggests potential for rapid response and sustained defense against swarm attacks – a growing concern in military circles. However, the true test will be its performance in combat situations. The mention of "additional volume orders expected in the second half of 2024 based upon combat success" indicates that real-world effectiveness will be crucial for Ondas' long-term success in this market.

Financial Analyst

This order expansion demonstrates strong market validation for Ondas' Iron Drone Raider system. While specific financial details are not disclosed, the rapid follow-up to the initial order suggests high customer satisfaction and urgent demand. The potential for additional volume orders in 2024 indicates a promising revenue pipeline.

Investors should note that Ondas is positioning itself in a high-growth market segment, with the counter-drone market expected to grow at a 27.8% CAGR. This presents significant upside potential for Ondas' revenue and market share. However, the company's success will hinge on the Raider system's performance in real-world deployments and its ability to secure additional contracts in a competitive landscape. The transition from initial orders to volume production will be a critical milestone to watch for in assessing Ondas' financial trajectory in this new market.

Expansion of initial purchase order received from a government military customer reflects the urgent need for Ondas' innovative counter-drone system Iron Drone Raider system

Additional volume orders are expected in the second half of 2024 based upon combat success

MARLBOROUGH, MA / ACCESSWIRE / August 14, 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, updated today that it has received an expansion of the initial purchase order received from a military customer for several Iron Drone Raider (the "Raider") counter-drone systems. The expansion includes additional features and support services for the systems that will be deployed and operated as part of military defense activities to protect from hostile drones threatening borders, critical locations, populations and defense forces.

"Our Iron Drone Raider system is probably the most advanced counter drone solution available today for military and homeland security organizations worldwide," said Eric Brock, Chairman and CEO of Ondas. "We received our initial Iron Drone Raider order directly from a military customer last month, and now this customer has extended its order to include more specific capabilities to support these upcoming operations. Ondas is positioning itself as a prime defense contractor in an emerging, and rapidly growing counter-UAS market with a large total addressable market. This expansion order demonstrates the high and urgent demand for our high-performance systems in response to the rapidly growing threat posed by hostile drones. We believe our 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."

The ongoing conflicts and events worldwide underscore the growing threat posed by small, hostile drones, which are increasingly used for aerial surveillance and kamikaze attacks. Various countermeasures, such as jamming GPS signals or manually controlling radio communications, can neutralize some drones. However, drones operating autonomously or without communications can only be stopped through physical interception or shooting, which are not always feasible and can cause dangerous collateral damage.

To address this challenge, the Iron Drone Raider system has been developed to tackle all types of hostile drones, regardless of their navigation methods. This system deploys a high-speed interceptor drone which identifies and locks onto incoming hostile drones using advanced AI-enabled sensor technology within a "Continuum of Autonomy." This continuum integrates ground-based and on-board thermal and micro-radar sensors with AI-powered command and control software, enabling the Raider to operate autonomously at high speeds and with great responsiveness in complex, GPS-denied environments.

Upon deployment, the Raider drone locates, tracks, and hunts the hostile drone, incapacitating it with a net. To ensure a safe descent, the net can be attached to a parachute, gently lowering the captured drone to the ground. After completing its mission, the Raider drone returns to its launch location for reuse. The entire process is fully automated and includes a docking station capable of storing and launching up to five Raider drones simultaneously.

The global market for counter-drone applications was 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 and industrial 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 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.

Our Ondas Autonomous Systems business unit designs, develops, and markets autonomous 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™, a counter-drone system designed to protect from the growing threat of hostile drones. The Optimus and Iron Drone Raider platforms are highly automated, AI-powered drone systems capable of continuous, remote operation and are marketed as "drone-in-a-box" turnkey security and data solution. They are deployed for critical defense, industrial and government applications where security, data and information collection and processing are required. 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 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.

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 Iron Drone Raider system developed by Ondas (ONDS)?

The Iron Drone Raider is an advanced counter-drone system developed by Ondas. It uses AI-enabled sensor technology and a high-speed interceptor drone to identify, track, and neutralize hostile drones by capturing them with a net, regardless of their navigation methods.

How has Ondas (ONDS) expanded its initial purchase order for the Iron Drone Raider?

Ondas has received an expansion of its initial purchase order from a military customer, which includes additional features and support services for the Iron Drone Raider systems to be deployed in military defense activities.

What is the projected growth of the global counter-drone market according to Ondas (ONDS)?

According to Beyond Market Insights, the global counter-drone market is expected to grow from approximately $1.6 billion in 2023 to $14.9 billion by 2032, with a compound annual growth rate (CAGR) of 27.8%.

When does Ondas (ONDS) expect additional volume orders for the Iron Drone Raider?

Ondas expects additional volume orders for the Iron Drone Raider in the second half of 2024, based on the system's combat success.