OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division has been awarded a contract from U.S.-based prime contractor, Huntington Ingalls Industries (NYSE: HII), to provide service maintenance, training, sustaining engineering and logistic support for multiple platforms of Rapiscan® baggage, parcel and cargo inspection systems. The multi-year contract is valued at approximately $28 million.
OSI Systems’ Chairman and CEO, Deepak Chopra, commented, “We are excited to receive this service award and look forward to supporting the end user customer’s mission of providing safety and security for critical infrastructure.”
Key data points: The growth forecast is 12.5% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities, and forecasts in the hand geometry biometrics market to 2031 by type (biometric software and palm scanner), application (access control, contract management, time & attendance, and visitor management), end use (BFSI, building & construction, consumer electronics, education, healthcare, manufacturing, military & defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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