Threat Detection Technology is Creating a $163.4 Billion Market Opportunity

November 09, 2020 - Baystreet.ca


There’s a groundswell of interest for threat detection technology. All with millions of us forced to be on guard at all times with civil unrest in the streets of America, constant threats of terror, fears of the pandemic. Yet, many of us are greatly unaware of the threats all around us. Plus, consider this. Nearly 55% of the world’s population lives in urban areas, says Source Security. According to estimates from the UN, this number is expected to increase to 68% by 2050. As urban areas become more densely populated, the ability of law enforcement to uphold law and order becomes ever more critical to public security. It’s a challenge that must be constantly reviewed, and issues addressed where needed.” The threat is so severe it could create a $163.4 billion market opportunity by 2025, creating opportunity for companies like Patriot One Technologies Inc. (TSX:PAT)(OTCQX:PTOTF), Everbridge Inc. (NASDAQ:EVBG), Shotspotter Inc. (NASDAQ:SSTI), Raytheon Company (NYSE:RTN), and Leidos Holdings Inc. (NYSE:LDOS).

Patriot One Technologies Inc. (TSX:PAT)(OTCQX:PTOTF) BREAKING NEWSPatriot One Technologies Inc. announced the appointment of Peter Evans as Chief Executive Officer, effective on Monday, November 16, 2020. Mr. Evans succeeds Martin Cronin who will remain on as a director of the Company. 

Mr. Evans brings over 25 years of experience working with venture-backed and public companies in executive leadership, operations and board roles. As an experienced executive in the security industry, Mr. Evans has demonstrated a track record for success in revenue growth and profitability, as well as identifying and developing new market opportunities, within start-up, Fortune 500, and rapidly-changing enterprises.

“Peter has a deep understanding of critical business drivers for tech-enabled solutions and SaaS business models, including in the security space,” expressed Peter Van Der Gracht, Chair of Patriot One’s board of directors. “His ability to leverage digital transformation into operational acceleration is one of the key skill sets that led us to our hiring decision. We are truly excited by his wealth of experience in SaaS and cloud services, artificial intelligence and machine learning, cyber security, telecom, and datacenter technology operations, and look forward to seeing great results with him leading Patriot One forward in the coming years.”

“I am excited to join the Patriot One team to lead the business into this new growth phase and capitalize on the extraordinary value contained within this exceptional technology,” expressed Peter Evans. “It’s exciting to be part of such an innovative and disruptive company that has built a broad portfolio of solutions poised for growth by addressing critical security concerns across our communities and businesses. By leveraging innovation, data and AI capabilities, Patriot One is well positioned to digitize traditional labor-based security models, and deliver higher efficacy, accuracy, and cost-effectiveness to both public and private enterprises. I am very excited to be a part of this journey together with our employees, partners, shareholders, and most importantly, our customers”.

Peter Evans will join fellow senior executives, Dietmar Wennemer, President and COO, and Karen Hersh, CFO, at the Company’s Corporate Headquarters in downtown Toronto, Ontario.

Other related developments from around the markets include:

Everbridge Inc. (NASDAQ:EVBG) the global leader in critical event management (CEM) announced that the company has introduced a new specialized CEM solution and risk intelligence package to assist organizations with managing the potential impact of the forthcoming U.S. Elections on people, businesses and communities.  By aggregating risk data from multiple sources in near real time, the Everbridge CEM platform enables customers to rapidly and seamlessly determine the relevance of a potential disruption, track the execution of response plans and procedures, inform stakeholders, and analyze ongoing performance. As the U.S. National Institutes of Health (NIH’s) Dr. Anthony Fauci discussed at Everbridge’s recent COVID-19 R2R: The Road to Recovery Symposium, the month of November falls during a period of heightened concerns related to the coronavirus pandemic.  State and local governments, communities, retailers and other businesses require proactive preparation and planning to respond to long lines at polling centers, potential transportation disruptions, and COVID-19 social distancing requirements in order to help ensure that activities leading up to, during, and after the Elections run smoothly.

Shotspotter Inc. (NASDAQ:SSTI), the leader in solutions that help law enforcement officials identify, locate and deter gun violence, will hold a conference call on Monday, November 9, 2020 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the third quarter ended September 30, 2020. Financial results will be issued in a press release prior to the call.

Raytheon Company (NYSE:RTN) will produce and deliver SM-3® Block IB interceptors under a $2.1 billion, multi-year U.S. Missile Defense Agency contract. It is the first multi-year contract for the SM-3 program, and covers fiscal years 2019–2023. SM-3 is the only ballistic missile interceptor that can be launched on land and at sea. It is deployed worldwide and has achieved more than 30 exoatmospheric intercepts against ballistic missile targets. "This procurement deal is a win-win for government and industry," said Dr. Mitch Stevison, Raytheon Strategic and Naval Systems vice president. "Efficiencies gained from this contract will allow us to reduce costs, continue to improve the SM-3 and deliver an important capability to our military."

Leidos Holdings Inc. (NYSE:LDOS), a FORTUNE 500® science and technology leader, reported financial results for the third quarter of fiscal year 2020.  Roger Krone, Leidos Chairman and Chief Executive Officer, commented: "Leidos' third quarter results reflect the hard work and dedication of our employees and close collaboration with our customers as we provided continuity of operations while accelerating our pandemic response plan. This is evidenced by record revenue, solid margins, record backlog and record operational cash generation in the recent quarter. While challenges still remain, we are pleased with the growth and margin trajectory as we enter the fourth quarter and beyond."

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Patriot One Technologies Inc. by a third party. We own ZERO shares of Patriot One Technologies Inc. Please click here for full disclaimer.

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