Artificial Intelligence
Vyant Bio Reports Fourth Quarter and Year-End 2021 Results and Provides Strategic and Business Highlights
Highlights
- Focused as a pure-play drug discovery and development biotechnology company
- Primary work on the discovery of small molecule therapeutics to treat neurodevelopmental and neurodegenerative diseases for Rett Syndrome (“Rett”), CDKL5 Deficiency Disorder (“CDD”), and familial Parkinson’s Disease
- Streamlined the business focus; pursuing the divestiture of wholly-owned subsidiary vivoPharm to exit CRO services business to focus on drug discovery
- Entered into a strategic collaboration with Organo Therapeutics to accelerate 3D organoid disease modeling and identification of novel therapeutics to treat familial Parkinson’s Disease in Q1, 2022
- Cash position at December 31, 2021 was $20.6 million
CHERRY HILL, N.J., March 30, 2022 (GLOBE NEWSWIRE) — Vyant Bio, Inc. (“Vyant Bio”, “Company”) (Nasdaq: VYNT), is an innovative biotechnology company reinventing drug discovery for complex neurodevelopmental and neurodegenerative disorders. The Company’s central nervous system (“CNS”) drug discovery platform combines human-derived organoid models of brain disease, scaled biology, and machine learning. Vyant Bio’s current programs are focused on identifying repurposed and novel small molecule clinical candidates for rare CNS genetic disorders including Rett Syndrome (“Rett”), CDKL5 Deficiency Disorders (“CDD”) and familial Parkinson’s Disease (“PD”). The Company’s approach to drug discovery focuses on de-risking candidate selection, thereby improving the known effectiveness of drugs discovered earlier in the development cycle. Today, Vyant Bio will report its Fourth Quarter and Year-End 2021 highlights and business updates in a conference call and webcast scheduled for 8:30am ET.
“Vyant Bio is committed to transforming into a pure-play drug discovery and development biotech company. We are incorporating the use of quantitative biomarkers that we believe are unique to our Rett and CDD programs that should provide meaningful human-biology-derived, preclinical signals of potential drug efficacy before the commencement of clinical trials”, stated Robert T. Fremeau PhD, the Company’s Chief Scientific Officer.
“We believe our drug discovery approaches will demonstrate a capital efficient and effective way to identify novel and repurposed therapeutics to treat patients with severe neurological conditions and will thereby maximize value to our shareholders,” stated Jay Roberts, Chief Executive Officer of Vyant Bio.
Vyant Bio filed its Year-End 2021 on Form 10-K today with the Securities and Exchange Commission. Please refer to Vyant Bio’s Form 10-K for more detailed information with respect to our financial results for the year ended December 31, 2021.
YEAR-END 2021 FINANCIAL RESULTS
Cash and cash equivalents totaled $20.6 million as of December 31, 2021.
During the fourth quarter of 2021, we commenced the process to sell the vivoPharm business. Therefore the vivoPharm business is classified as a held-for-sale asset and its financial information as discontinuing operations as of and for the year ended December 31, 2021. Continuing operations as of and for the year ended December 31, 2021 consists of Vyant Bio and StemoniX, Inc.
Revenue from continuing operations for 2021 was $1.1 million as compared with $867 thousand in 2020. Cost of goods sold – service aggregated $408 thousand in 2021 and $384 thousand in 2020. Cost of goods sold – product aggregated $1.4 million and $717 thousand for the year ended December 31, 2021 and 2020, respectively. Substantially all of our revenue from continuing operations was generated from our Maple Grove facility. As we move this facility to internal research and development activities in 2021, the costs for this facility will have a corresponding shift to research and development costs in 2022.
Research and development costs for 2021 increased to $4.3 million as compared with $3.2 million in 2020 which was the result of increased headcount, lab and professional service costs. Selling, general and administrative expenses increased from $2.7 million in 2020 to $8.4 million in 2021 which reflects post-merger public company costs.
Overall, the net loss of $8.7 million in 2020 increased to $40.9 million in 2021. The 2021 net loss includes $26.0 million of non-cash expenses as well as $2.3 million of merger related expenses. The net loss from continuing operations aggregated $18.6 million and included non-cash expenses of $4.8 million as well as $2.3 million in merger related costs. The net loss of $22.3 million from discontinuing operations included a $20.2 million goodwill impairment charge and other non-cash expenses aggregating approximately $1.0 million.
Vyant Bio’s Conference Call and Webcast and Information
Vyant Bio’s management will host a conference call on Wednesday, March 30, 2022 at 8:30am ET to discuss the Fourth Quarter and Year End 2021 results and provide strategic business updates as well as answer questions. Event information is below:
Event: Investor Conference Call and Webcast for the Fourth Quarter and Year-End 2021
Date: Wednesday, March 30, 2022
Time: 8:30am ET
Dial In: Toll Free: 1.877.545.0523 Conference ID: 449263
Webcast: https://www.webcaster4.com/Webcast/Page/2756/44775
The live event will be recorded and available for replay. The conference call and webcast details are also included inside the Investors section of the Vyant Bio corporate website at www.vyantbio.com.
The event will be recorded and archived. Replay information is below:
Conference Call Replay Information:
Toll Free: 1.877.481.4010 Replay Passcode: 44775
Webcast Replay Information: https://ir.vyantbio.com/news-events/ir-calendar
ABOUT VYANT BIO, INC.
Vyant Bio, Inc. (“Vyant Bio”, the “Company”) (Nadsaq:VYNT), is an innovative biotechnology company focused on identifying unique biological targets and novel and repurposed therapeutics. Vyant Bio has built a platform of therapeutics to treat neurological developmental and degenerative diseases, with current programs targeting Rett Syndrome (“Rett”), CDKL5 Deficiency Disorders (“CDD”), and Parkinson’s Disease. The Company’s approach to drug discovery integrates human-derived biology with artificial intelligence and machine learning technologies to de-risk candidate selection, with the goal of improving the known effectiveness of drugs discovered earlier in the development cycle. Vyant Bio’s management believes that drug discovery needs to progressively shift to more efficient methods as the widely used models for predicting safe and effective drugs have under-performed, as evidenced by the significant time and cost of bringing novel drugs to market. By combining sophisticated data science capabilities with highly functional human cell derived disease models, Vyant Bio seeks to leverage its current ability to screen and test therapeutic candidates, which will allow for creating a unique approach to assimilating data that supports decision making iteratively throughout the discovery phase of drug development to identify both novel and repurposed CNS candidates.
For more information, please visit or follow Vyant Bio at:
Internet: www.vyantbio.com
LinkedIn: https://www.linkedin.com/company/vyant-bio
Twitter: @VyantBio
Forward Looking Statements:
This shareholder letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to Vyant Bio, Inc.’s expectations regarding future financial and/or operating results, and potential for our services, future revenues or growth, or the potential for future strategic transactions in this press release constitute forward-looking statements.
Any statements that are not historical fact (including, but not limited to, statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” and “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in our attempts to discover drug candidates, partner with pharmaceutical and other biotechnology companies, achieve profitability, adapt to the global coronavirus pandemic, raise capital to meet our liquidity needs, realize the anticipated benefits of the merger of StemoniX, Inc. and Cancer Genetics, Inc., and other risks discussed in the Vyant Bio, Inc. Form 10-K for the year ended December 31, 2021, and any subsequent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Vyant Bio disclaims any obligation to update these forward-looking statements.
Investor Contact:
Jennifer K. Zimmons, Ph.D., MBA
Investor Relations
Zimmons International Communications, Inc.
Email: [email protected]
Phone: +1.917.214.3514
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Source: Vyant Bio, Inc.
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Vyant Bio, Inc.
(Formerly Known as Cancer Genetics, Inc.)
Consolidated Balance Sheets
(Shares and USD in Thousands)
| December 31, | ||||||||
| 2021 | 2020 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 20,608 | $ | 792 | ||||
| Trade accounts and other receivables | 434 | 357 | ||||||
| Inventory | 475 | 415 | ||||||
| Prepaid expenses and other current assets | 895 | 223 | ||||||
| Assets of discontinuing operations – current | 802 | – | ||||||
| Total current assets | 23,214 | 1,787 | ||||||
| Non-current assets: | ||||||||
| Fixed assets, net | 1,020 | 1,031 | ||||||
| Operating lease right-of-use assets, net | 673 | 1,095 | ||||||
| Long-term prepaid expenses and other assets | 1,221 | 136 | ||||||
| Assets of discontinuing operations – non-current | 11,508 | – | ||||||
| Total non-current assets | 14,422 | 2,262 | ||||||
| Total Assets | $ | 37,636 | $ | 4,049 | ||||
| Liabilities, Temporary Equity and Stockholders’ Equity (Deficit) | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 740 | $ | 1,300 | ||||
| Accrued expenses | 764 | 162 | ||||||
| Deferred revenue | 74 | 92 | ||||||
| Obligations under operating leases, current portion | 174 | 486 | ||||||
| Obligation under finance lease, current portion | 157 | – | ||||||
| Other current liabilities | – | 9 | ||||||
| Liabilities of discontinuing operations – current | 3,522 | – | ||||||
| Total current liabilities | 5,431 | 2,049 | ||||||
| Obligations under operating leases, less current portion | 516 | 627 | ||||||
| Obligations under finance leases, less current portion | 293 | – | ||||||
| Share-settlement obligation derivative | – | 1,690 | ||||||
| Accrued interest | – | 277 | ||||||
| Long-term debt | 57 | 6,839 | ||||||
| Liabilities of discontinuing operations – non-current | 49 | – | ||||||
| Total Liabilities | 6,346 | 11,482 | ||||||
| Commitments and Contingencies (Note 16) | ||||||||
| Temporary Equity | ||||||||
| Series A Convertible Preferred stock, $0.0001 par value; 4,700 shares authorized, 0 and 4,612 shares issued and outstanding as of December 31, 2021 and 2020, respectively (liquidation value of $0 and $11,732, respectively, as of December 31, 2021 and 2020) | – | 12,356 | ||||||
| Series B Convertible Preferred stock, $0.0001 par value; 4,700 shares authorized, 0 and 3,489 shares issued and outstanding, as of December 31, 2021 and 2020, respectively (liquidation value of $0 and $15,707, respectively, as of December 31, 2021 and 2020) | – | 16,651 | ||||||
| Series C Convertible Preferred stock, $0.0001 par value; 2,000 shares authorized, 0 shares issued and outstanding as of December 31, 2021 and 2020 (liquidation value of $0 as of December 31, 2021 and 2020) | – | – | ||||||
| Total Temporary Equity | – | 29,007 | ||||||
| Stockholders’ Equity (Deficit) | ||||||||
| Preferred stock, authorized 9,764 shares $ 0.0001 par value, 0 shares issued and outstanding as of December 31, 2021 and 2020 | – | – | ||||||
| Common stock, authorized 100,000 shares, $0.0001 par value, 28,993 and 2,594 shares issued and outstanding as of December 31, 2021 and 2020, respectively | 3 | – | ||||||
| Additional paid-in capital | 110,174 | 1,514 | ||||||
| Accumulated comprehensive loss | (74 | ) | – | |||||
| Accumulated deficit | (78,813 | ) | (37,954 | ) | ||||
| Total Common Stockholders’ Equity (Deficit) | 31,290 | (36,440 | ) | |||||
| Total Liabilities and Stockholders’ Equity (Deficit) | $ | 37,636 | $ | 4,049 | ||||
Vyant Bio, Inc.
(Formerly Known as Cancer Genetics, Inc.)
Consolidated Statements of Operations and Comprehensive Loss
(Shares and USD in Thousands)
| Years Ended December 31, | ||||||||
| 2021 | 2020 | |||||||
| Revenue: | ||||||||
| Service | $ | 665 | $ | 588 | ||||
| Product | 483 | 279 | ||||||
| Total revenue | 1,148 | 867 | ||||||
| Operating costs and expenses: | ||||||||
| Cost of goods sold – service | 408 | 384 | ||||||
| Cost of goods sold – product | 1,439 | 717 | ||||||
| Research and development | 4,273 | 3,232 | ||||||
| Selling, general and administrative | 8,424 | 2,717 | ||||||
| Merger related costs | 2,310 | 1,440 | ||||||
| Total operating costs and expenses | 16,854 | 8,490 | ||||||
| Loss from operations | (15,706 | ) | (7,623 | ) | ||||
| Other income (expense): | ||||||||
| Change in fair value of warrant liability | 214 | – | ||||||
| Change in fair value of share-settlement obligation derivative | (250 | ) | (503 | ) | ||||
| Loss on debt conversions | (2,518 | ) | – | |||||
| Other income | 57 | 11 | ||||||
| Interest expense, net | (372 | ) | (535 | ) | ||||
| Total other income (expense) | (2,869 | ) | (1,027 | ) | ||||
| Loss from continuing operations before income taxes | (18,575 | ) | (8,650 | ) | ||||
| Income tax expense (benefit) | – | – | ||||||
| Loss from continuing operations | (18,575 | ) | (8,650 | ) | ||||
| Discontinuing operations (net of $0 tax benefit in 2021) | (22,284 | ) | – | |||||
| Net loss | (40,859 | ) | (8,650 | ) | ||||
| Cumulative translation adjustment | (74 | ) | – | |||||
| Comprehensive loss | $ | (40,933 | ) | $ | (8,650 | ) | ||
| Net loss per share attributed to common stock – basic and diluted: | ||||||||
| Net loss per share from continuing operations | $ | (0.82 | ) | $ | (3.48 | ) | ||
| Net loss per share from discontinuing operations | (0.99 | ) | – | |||||
| Net loss per share | $ | (1.81 | ) | $ | (3.48 | ) | ||
| Weighted average shares outstanding: | ||||||||
| Weighted average common shares outstanding – basic and diluted | 22,614 | 2,486 | ||||||
SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — At the 6G Conference held in Istanbul, on September 24, 2024, Dr. Wen Tong, Huawei Wireless CTO, delivered a keynote speech on 6G standardization and innovation. With the release of the ITU-R 6G vision framework, the 3GPP will start 6G standardization in 2025. “6G is a new generation of mobile technology, not a simple upgrade of 5G, it should bring new value to users,” said Dr. Tong, “6G is a true intergenerational technological disruption. 6G standard, key technologies, and network architecture should be re-defined based on application scenarios and requirements from 2030 to 2040. 6G should not be another way to implement 5G. Instead, 6G should embrace the AI revolution with a quantum leap and generate new values for the consumers. In this way, 3GPP standards can truly realize the 6G vision and create greater value for the entire industry.”
Centered “6G Standardization Direction” and “6G Innovation Driving Force”, Dr. Tong shared important views on the future architecture, terminal development, and key technologies of 6G.
In terms of architecture design, 6G should go beyond Service-Based Architecture and move towards Application-Driven Network.
5G has already achieved market success and continues to evolve towards 5G-Advanced. 6G will not simply reuse 5G network architecture, without generational and fundamental innovations, which will limit the mobile industry’s aspiration and imagination to dive the innovation in the 6G era. 6G must have obvious cross-generational characteristics and technical breakpoint.
On the core side, reusing the 5G core network will hinder the innovation in AI. We should use Agentic-AI based technology to re-architect 6G Core that goes beyond 5G Service-Based Architecture and support the foundational capabilities of AI, Sensing and NTN , and thus evolve towards the Application Driven Network .
In terms of terminal evolution, 6G user device calls for a breakthrough to lead the success of the entire industry chain.
It is the law of the mobile industry to drive the evolution of the market with the pioneering technology. The 6G networks and 6G terminals must meet the requirements of consumers and vertical industries in the 6G market phase from 2030 to 2040.
Currently, smartphones are evolving to AI terminals to usher in the mobile AI era. In post-MBB era, breakthroughs in terminal technologies will be the key to the evolution of the mobile industry. Therefore, 6G user device calls for a breakthrough towards “Full-AI”, thus to drive 6G network upgrade and the success of the entire industry ecosystem.
In terms of technology development, AI will become a key enabler for 6G with network paradigm shifting.
Twenty years ago, the Internet was the enabler of the technology innovations. Mobile communications embraced the Internet and achieved great business success. Today, AI maybe the disruptive enabler of the latest technology innovations.
6G should embrace the AI revolution with a quantum leap. However, 6G networks should not be limited to generative AI, Artificial General Intelligence (AGI) and Embodiment-AI are the main directions of future AI development. Therefore, AGI should run through the whole process of sensing, reasoning, decision, and action of terminals, wireless networks, and core networks of 6G, to welcome the arrival of a new network paradigm.
At the end, Dr. Tong Wen emphasized the relationship between 5G and 6G: “The global 5G deployment is on the rise and evolving to 5G-Advanced, which not only meets the current requirements of operators, but also protects their investment. Therefore, 6G technologies should not overlap with 5G in technologies and market space. The specifications, technologies, and architecture of 6G must be based on the scenarios and requirements from 2030 to 2040. We should focus on true generational technology disruption, embrace the new opportunities brought by AI, expand the mobile industry in the next generation.”
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Artificial Intelligence
How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024
HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.
Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence
Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.
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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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