Emerging tech-focused firms could reshape the Top 100

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  July 19, 2019 | International, Land, Other Defence

  OSI Systems Awarded $8 Million Contract for Cargo and Vehicle Inspection Systems

  HAWTHORNE, Calif.--(BUSINESS WIRE)--OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division was awarded a contract valued at approximately $8 million by a U.S. government customer to provide cargo and vehicle inspection systems. OSI Systems' Chairman and CEO, Deepak Chopra, stated, “We are pleased to receive this award and look forward to delivering our advanced technology solutions that are designed to provide enhanced imaging to help identify impermissible items.” About OSI Systems OSI Systems is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense and aerospace industries. The Company combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end product markets. For more information on OSI Systems or its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to OSI Systems' current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside OSI Systems' control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are based on currently available information and speak only as of the date on which they are made. OSI Systems assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws. For a further discussion of factors that could cause OSI Systems' future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in OSI Systems' most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission. SOURCE: OSI Systems, Inc. https://www.businesswire.com/news/home/20190717005233/en

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  September 12, 2023 | International, Aerospace

  See the weapons on display at DSEI — golden gun included

  Drones, small arms and artillery are some of the weapons types shown off on the first day of DSEI.

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  May 21, 2020 | International, Aerospace, C4ISR

  More than one company could get cash to build the Air Force’s AI-equipped Skyborg drone

  By: Valerie Insinna WASHINGTON — The U.S. Air Force has kicked off a competition for one of its most highly anticipated tech programs, a drone known as Skyborg that will use artificial intelligence to make decisions in battle. The service released a solicitation May 15 for Skyborg prototypes, which will merge autonomous, low-cost aircraft with a suite of artificial intelligence capabilities. The Air Force envisions Skyborg as a family of drones — each designed for a specific mission or set of missions — with modular hardware and software payloads and a common AI backbone, which will allow software to be rapidly updated across the fleet. The Air Force intends to give multiple companies $400 million to develop different versions of the Skyborg system, although it reserves the right to award just one or no contracts. Proposals are due June 15, with awards projected around July 8, according to the solicitation. Once under contract, companies will “conduct research to develop, demonstrate, integrate and transition air vehicle, payload and autonomy technologies and systems that will provide affordable, revolutionary capabilities to the warfighter through the Skyborg program,” the Air Force said. The service previously intended to use experimentation and prototyping to have Skyborg operational by 2023. Skyborg will be what the service calls an attritable system, meaning that aircraft loss is expected and can be tolerated even though the system is not considered expendable and can be reused. Aircraft should “generate massed combat power with minimal logistical footprints,” with cost per unit and the price of operating and maintaining the air vehicles a “small fraction” for that of the Air Force's existing fighter inventory, according to the solicitation. Air Force acquisition executive Will Roper has compared Skyborg to R2-D2, the Star Wars droid that feeds Luke Skywalker helpful information while piloting an X-Wing. Skyborg would build up efficacy on its own via artificial intelligence by working with manned pilots, who would issue commands to the drone and provide feedback on the data presented by it. Last year, Roper told Defense News that the service was exploring the possibility of teaming Skyborg both with the Lockheed Martin F-35 and the Boeing F-15EX aircraft. The ability to team manned fighter jets with smart, autonomous drones could “open up the door for an entirely different way to do aerial combat,” he said in May 2019. “We can take risk with some systems to keep others safer,” he said at the time. “We can separate the sensor and the shooter. Right now they're collocated on a single platform with a person in it. In the future, we can separate them out, put sensors ahead of shooters, put our manned systems behind the unmanned.” Numerous aircraft companies are expected to bid on the Skyborg solicitation. Kratos Defense and Security Solutions is already working with the Air Force on its XQ-58A Valkyrie drone, which logged its fourth successful flight test in January as part of the Low Cost Attritable Aircraft Technology program. Earlier this month, Boeing rolled out its own loyal wingman drone, the Airpower Teaming System. The Royal Australian Air Force has committed to buy three of those systems for experimentation under its Loyal Wingman Advanced Development Program. General Atomics and Lockheed Martin's Skunk Works each plan to offer their own aircraft proposals, according to Air Force Magazine. In fiscal 2021, the Air Force intends to spend $157.6 million across its three “vanguard programs,” which includes the Skyborg effort. The service also included an additional $25 million for Skyborg on its unfunded priorities list, which would allow it to begin integrating UAVs with artificial intelligence software. https://www.defensenews.com/air/2020/05/20/more-than-one-company-could-get-cash-to-build-the-air-forces-ai-equipped-skyborg-drone