FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Nov. 1, 2022 /PRNewswire/ — Concealed weapons detection systems are used in different public spaces in order to prevent human loss and protect people. Around the world, public protection has become a grave concern. Civic protection is one of the most prominent features required for citizens’ safety. During the evaluation period, the use of concealed weapons detection systems in military and defense, transport infrastructure, stadium and sports arenas, correctional facilities, and others could invite promising growth prospects. A report from Data Bridge Market Research projected that Concealed weapon detection systems market is expected to reach USD 289.06 million by 2028 witnessing market growth at a rate of 6.10% in the forecast period of 2021 to 2028. The report said: “Increasing demand of security system in aviation industry, government sector, and commercial spaces such as educational institutes, banks, and shopping malls, rise of cross border terrorism and increasing number of terrorist outfits, increasing adoption of security screening, integration of high efficiency sensing solutions are some of the major as well as vital factors which will likely to augment the growth of the concealed weapon detection systems market in the projected timeframe of 2021-2028. Active companies in the markets this week include Liberty Defense Holdings Ltd. (OTCQB: LDDFF) (TSX-V: SCAN), Patriot One Technologies (OTCQX: PTOTF) (TSX: PAT), Evolv Technology (NASDAQ: EVLV), Knightscope, Inc. (NASDAQ: KSCP), Fortinet® (NASDAQ: FTNT).
The article continued: “On the other hand, rising advancement in dual vision X-ray inspection system for autonomous detection of concealed explosives at security checkpoints along with introduction of new and advanced technologies to enhance effectiveness and ease of use which will further contribute by generating massive opportunities that will lead to the growth of the concealed weapon detection systems market in the above mentioned projected timeframe. North America will dominate the concealed weapon detection systems market due to the surging levels of investment for the development of advanced security system in the region while Europe region will expect to grow in the concealed weapon detection systems market during the forecast period of 2021-2028 due to the growing number of terror attacks along with rising demand of advanced and improved security system in the region.”
Liberty Defense Holdings Ltd. (OTCQB: LDDFF) (TSXV: SCAN) BREAKING NEWS: Liberty Defense Commences Beta Testing at Toronto Pearson International Airport – Toronto Pearson International Airport will be the first airport in Canada to test HEXWAVE system – Liberty Defense Holdings Ltd. (FRANKFURT: LD2A) (“Liberty” or the “Company”), a leading technology provider of detection solutions for concealed weapons and threats, is pleased to announce that beta testing with the Greater Toronto Airports Authority (GTAA) at the Toronto Pearson International Airport (Pearson) has commenced November 1, 2022, and will continue for a period of two weeks.
Toronto Pearson is located in Mississauga, west of Toronto, in Ontario, Canada. It is Canada’s largest airport, the sixth-most-connected airport in the world, and the second-most-connected airport in North America.
Toronto Pearson will be the first airport in Canada to trial the HEXWAVE™ walkthrough security detection portal. The airport plans to operate the trial in multiple areas of the airport by conducting voluntary screening in an employee area and a location at the permitter of the airport, including an entrance from the terminal parking garage. Liberty Defense will use the beta site as an opportunity to further test and train the system to continue improving HEXWAVE’s Artificial Intelligence machine learning algorithms, while also gathering user feedback.
“The HEXWAVE’s ability to act as an additional layer of security at airports, extending the perimeter of the secured area to include the entrance to the airport itself, is an advantage,” said Bill Frain, CEO of Liberty Defense. “We are thrilled to be working with the GTAA as it continues to take an innovative and forward-looking approach to security and customer experience.”
HEXWAVE is a walkthrough screening portal that uses 3D radar imaging and Artificial Intelligence technologies to detect and identify metallic and non-metallic concealed weapons and other threats, providing security operators with a real-time, automatic go/no-go decision. There is no need to stop and remove keys, cell phones, or other items from pockets while passing through the system. The system protects privacy by not personalizing image data, and images can never be seen by an operator. The operator only receives real-time information about threat type and location as people pass through the system.
“The GTAA prioritizes security and keeping ahead of the latest threats,” said Dwayne Macintosh, Director of Corporate Safety and Security for the GTAA. “At the same time, we value passenger and staff experience and look to next-generation technology to be able to balance both considerations. We look forward to trialing HEXWAVE and its potential to enhance safety at Toronto Pearson.”
As previously announced, Liberty’s beta trial locations include onsite testing with a major US International airport, a top US airline, a Major League Baseball (MLB) stadium, a large state university, and one of the largest Hindu temples in North America. Liberty is also working with the U.S. Transportation Security Administration (TSA) to evaluate HEXWAVE for its expanded detection and throughput capabilities to screen aviation workers at a TSA designated airport in the future. CONTINUED… Read this and more news for Liberty Defense at: https://www.financialnewsmedia.com/news-scan/
In other developments in the markets:
Patriot One Technologies Inc. (TSX: PAT) (OTCQX: PTOTF) recently announced its annual financial results for the year ended July 31, 2022. All information is in Canadian dollars unless otherwise indicated.
The following press release should be read in conjunction with the Company’s Annual Consolidated Financial Statements, prepared in accordance with International Financial Reporting Standards (“IFRS”) and our Management’s Discussion and Analysis for the years ended July 31, 2022 and 2021, which can be found under the Company’s profile on SEDAR at www.sedar.com.
“I am excited to share our annual results with investors. The Company has experienced incredible growth this year, particularly in our Platform operating segment which saw a year-over-year increase of over 850% in the total value of contracts signed,” stated Peter Evans, Chief Executive Officer of Patriot One. “We are experiencing significant and growing interest in our Platform products as venues and businesses continue to focus on the safety and wellbeing of their patrons and employees. We are confident in our ability to capitalize on this demand and have invested heavily in our ability to satisfy the needs of the market. With the announcement and delivery of SmartGateway, we saw an immediate uptick in demand, with 67% of our bookings for the platform operating segment occurring in the fourth quarter. With this solid foundation, ongoing customer engagement, product validation, and the strong team we have built, we are well positioned to accelerate this growth in fiscal 2023.”
With the academic school year now in full swing, another district has turned to Evolv Technology (NASDAQ: EVLV) to help create a safer learning environment for its community. As the leader in AI-based weapons detection security screening, Evolv Technology’s sensor-based kiosks and artificial intelligence (AI) solutions now proactively identify guns and weapons in Spartanburg School District Five in a frictionless manner without creating an uncomfortable environment for students and staff.
By applying patented technology and completely redefining the safety screening process, students walk through the Evolv Technology kiosks without always having their bags removed or searched and can start their day without the sense of unease that traditional metal detectors can create. The Evolv Express technology is focused on identifying weapons so that staff will only stop to check items that may pose a potential threat.
Knightscope, Inc. (NASDAQ: KSCP), a leading developer of autonomous security robots, recently announced it has completed its acquisition of CASE Emergency Systems (“CASE”).
“We look forward to collaboratively working with our new incoming clients to overhaul our Nation’s public safety infrastructure beginning with the 7,000+ blue light towers and emergency call box devices already in network. Our country needs superhuman capabilities to fight crime and become the safest country in the world. Autonomy, robotics, 5G, solar, A.I. and electric vehicles can make a positive change to the country’s law enforcement and security apparatus, providing officers and guards unprecedented capabilities to better secure the places you live, work, study and visit,” said William Santana Li, chairman and chief executive officer of Knightscope, Inc.
Fortinet® (NASDAQ: FTNT) recently announced significant cloud-delivered enhancements to FortiSASE, the most integrated single-vendor SASE solution on the market.
According to Gartner®, “Single-vendor SASE delivers converged network and security capabilities to connect and secure distributed users, devices, and locations to resources in the cloud, edge, and on-premises.”1 It has emerged as a key architecture to secure remote users, ensure consistent user experience, and shift from a CAPEX to an OPEX business model. In fact, Gartner predicts that “by 2025, one-third of new SASE deployments will be based on a single-vendor SASE offering, up from 10% in 2022.”
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