This news is classified in: Defense Aerospace Counter UAV Aviation Contracts
Oct 1, 2024
ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "company” or “ParaZero”), an aerospace company specializing in drone safety systems for defense and commercial drones and for urban air mobility aircraft, today announced that it has received a new purchase order for its advanced Counter-Unmanned Aerial Systems (C-UAS) solution from a global leading Tier 1 defense and intelligence OEM company. This is another significant achievement for ParaZero in its continued expansion into the defense market and the rapidly growing counter-drone market specifically.
This order follows the company's recent success in securing an initial contract for its innovative C-UAS technology and highlights the increasing global demand for reliable, scalable, and robust solutions to mitigate threats posed by drones of various sizes.
Meeting the Evolving Threat Landscape
With drones becoming a major security concern for military and non-military organizations, ParaZero's cutting-edge C-UAS solution offers a drone neutralization system. This technology provides essential protection for critical infrastructure, sensitive military operations, and public spaces while also ensuring minimal disruption while neutralizing aerial threats.
Market forecasts by Region, Platform, Product, and End-User. Country Analysis, Market and Technology Overview, Opportunities and Impact Analysis, and Leading Company Profiles
Download free sample pages More information“Securing another order from a prestigious global defense and intelligence organization is a strong testament to the trust in our technology,” said Boaz Shetzer, CEO of ParaZero Technologies. “We believe that our C-UAS solutions address the growing demand for highly effective drone mitigation systems, and that this new order reflects our commitment to providing the highest level of safety and security to our clients.”
Expanding Capabilities in the Counter-Drone Market
As the market for counter-drone technology is expected to grow to $7.05 billion by 2029 according to a MarketandMarkets report, ParaZero continues to invest in its proprietary C-UAS platform, which integrates seamlessly with existing security systems. The platform’s high level of customization and scalability makes it ideal for a wide range of applications, including military, law enforcement and commercial operations.
ParaZero’s continued success in the counter-drone market reinforces its position as a leader in aerospace safety technology and its commitment to addressing emerging global security challenges with innovative and reliable solutions.
