Aug 10, 2021 (Baystreet.ca via COMTEX) -- Threat detection is of utmost importance in airports, schools, public venues, and other high traffic crowded areas. The U.S. has seen more than 1,700 mass shootings since 2015. Soft targets have no means to counter threats. There’s also the threat of “ghost guns,” or weapons that can be produced without serial numbers and other identifiers. They’re also usually not metallic, making them very difficult to track and pick up by security. In fact, the need for threat detection is so essential, the market is set to grow from $5.3 billion to $7.5 billion by 2025, which is quickly benefiting companies such as Liberty Defense Holdings Ltd. /zigman2/quotes/205774526/delayed CA:SCAN +5.26% /zigman2/quotes/211347660/delayed LDDFF +5.82% , Shotspotter Inc. /zigman2/quotes/203800377/composite SSTI +1.89% , Evolv Technologies Holdings Inc. /zigman2/quotes/221308040/composite EVLV -7.82% , Wrap Technologies Inc. /zigman2/quotes/204633032/composite WRAP -9.82% , and OSI Systems /zigman2/quotes/205677918/composite OSIS +0.48% .
Demand for threat detection is essential. In fact, according to a study by Security Today, more than 83% of Americans are concerned about criminal attack against their person. More than 22% of Americans have also considered canceling plans to attend public events thanks to concerns about physical attacks. It’s part of the reason threat detection is so important.
Liberty Defense Holdings Ltd., a leading concealed weapons and threat detection solutions company just announced that it has signed a technical and marketing collaboration agreement with Micro-X Inc, the US subsidiary of Micro-X Ltd. (asx:MX1) to explore a combined technology offering with Liberty’s HEXWAVE walk-through screening portal for enhanced people and passenger screening in aviation or commercial security settings.
The combination of Micro X’s advanced baggage screener and Liberty’s award winning HEXWAVE walk through portal, will provide an enhanced curb to gate security solution while increasing the flow of personnel at checkpoints for aviation and commercial applications globally.
HEXWAVE is a next generation, high throughput, contactless threat detection system, for concealed metallic and nonmetallic objects, using AI to provide automated decisions to the security operators to process people at speed.
Micro-X Ltd is an award winning, Australian Securities Exchange listed hi-tech company developing and commercializing a range of innovative x-ray imaging products for global health and security markets, based on proprietary cold cathode, carbon nanotube (CNT) emitter technology. Micro-X has a design and production facility in Adelaide, Australia and a technical and commercial team based in Seattle supporting its rapidly expanding US business.
In November 2020, Micro-X announced it had been selected for funding by the Department of Homeland Security (DHS) to develop a passenger self-service security screening portal and a miniaturized x-ray computed tomography (CT) passenger baggage screening system.
“Micro-X’s technology could transform airport security across America, enabling faster and more reliable x-ray baggage screening, re-imagining airport checkpoints,” said Michael Lanzaro, President & CTO of Liberty Defense. “We are very excited to be collaborating with Micro-X, a truly innovative x-ray technology company that is uniquely positioned to change the concept of operations for security screening at airports and commercial settings. We see tremendous integration synergies for our HEXWAVE passenger screening platform, working alongside the x-ray baggage technology from Micro-X forming a new commercial checkpoint screening portal for our customers.”
“Liberty Defense has an experienced team in the security market and we were very impressed by the innovative HEXWAVE product,” said Brian Gonzales, CEO Micro-X Inc. “This partnership is a natural fit and I’m looking forward to bringing our teams together to develop a revolutionary screening approach at checkpoints across the globe.”
Early collaborative work has been moving forward and will form the basis of performing market research and collecting customer feedback.
Other related developments from around the markets include:
Shotspotter Inc., a leader in precision policing technology solutions that enable law enforcement to more effectively respond to, investigate and deter crime, will hold a conference call on Tuesday, August 10, 2021 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the second quarter ended June 30, 2021. Financial results will be issued in a press release prior to the call.
Evolv Technologies Holdings Inc., the global leader in weapons detection security screening, announced that it will release financial results for the second quarter ended June 30, 2021 on Monday, August 16, 2021, after the market closes. Members of the Company’s management team plan to host a live conference call and webcast at 4:30 p.m. Eastern Time on that day to discuss the financial results as well as management’s outlook for the business.
Wrap Technologies Inc., a global leader in innovative public safety technologies and services, published its initial Environment, Social and Governance (ESG) letter to stakeholders. The letter outlines the WRAP’s commitment and initiatives across a diverse range of topics that the Company is currently tracking in its ESG program, including diversity across WRAP’s board, executive management, and employees, as well as goals and objectives for future reports. “I am excited about WRAP’s commitment to ESG and our desire to incorporate it into everything we do,” said WRAP President and CEO Tom Smith. “WRAP’s core mission and purpose have been to drive public safety towards progress and facilitate better policing outcomes by developing creative solutions to complex issues through forward-thinking, empathy and innovation. This letter provides a comprehensive overview of our ESG accomplishments over the past year. In addition, it outlines our long-term commitment to uphold our core values and ensure that our operations reflect a thoughtful and meaningful impact in the communities we serve.”
OSI Systems Inc. announced that it will hold its quarterly conference call on Wednesday, August 18, 2021 at 9:00am PT to discuss its results for the fourth quarter and fiscal year ended June 30, 2021. This call is being webcast through the investor relations section at www.osi-systems.com .
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