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The
Sky’s the Limit
March
27, 2024- Investorideas.com, a
go-to investing platform covering defense and energy stocks releases a news
report on recent contract news and contracts within the defense industry, featuring
KULR Technology Group, Inc (NYSE:KULR), a
leading energy management platform company offering proven solutions that play
a critical role in accelerating the electrification of the circular economy.
Read this article,
featuring KULR in full at: https://www.investorideas.com/news/2024/defense/03271Stocks.asp
According
to GlobalData, “The
global missiles and missile defense systems (MMDS) market is valued at $45.2
billion in 2023 and will grow at a compound annual growth rate (CAGR) of more
than 4% during 2023-2033. The MMDS market will be driven by the rise in air
defense modernization and advanced precision strike missile procurement
programs by key defense spending countries, such as the US, Russia, China, India,
Poland, and the UK, among others. The increased focus on the development and
procurement of newer-generation missiles and sophisticated missile defense
systems by key military powers is expected to further drive market growth over
the forecast period.”
KULR
Technology Group, Inc. (NYSE:
KULR), with a long history in the defense industry
expands its footprint, and just announced receiving
a six-figure contract from Lockheed Martin (NYSE: LMT) for
developing phase change material ("PCM") heat sinks that are pivotal
for the thermal regulation of essential electronics within long-range precision
missiles. This achievement follows a series of successful evaluations that
showcased the efficiency of KULR's solutions in cooling critical onboard
systems.
With over two decades of pioneering work in
heat dissipation technologies, KULR has become a trusted provider for demanding
sectors including defense, aerospace and beyond. This latest contract with Lockheed
Martin underscores KULR's role as a source of innovative cooling solutions.
From the news: KULR's PCM
heat sinks stand out for their efficient, lightweight, and durable design,
ideal for managing the heat loads of systems requiring intense, short bursts of
power. Such capabilities are crucial for maintaining the reliability and
performance of sophisticated missile electronics. Lockheed Martin's selection
of KULR for this project reflects confidence in the company's ability to meet
the high standards required for aerospace and defense applications.
Ted Krupp, KULR’s VP of Sales and Marketing
expressed pride in this collaboration, stating, "Our partnership with
Lockheed Martin validates our drive for excellence and innovation in managing
high-stakes thermal challenges. Our work is critical for enhancing the
capabilities of precision-guided weaponry." KULR remains at the forefront
of thermal regulation technology, continuously evolving its solutions to
support safer, more efficient electronic and battery systems across a variety
of applications.
From the news: According
to Straits Research,
the global electronic warfare market size is estimated to reach an expected
value of USD 27.79 billion by 2030, registering a CAGR of 5.8% during the
forecast period of 2022 to 2030.
KULR
Technology‘s stock has been trading up following last week’s defense
industry news on the receipt of an additional purchase order from the United States
Army, increasing the total contract value to $1.81 million. This latest order
propels the project into its final phase, scheduled for completion by August
2024, with KULR having already achieved significant milestones in the
development of next-generation battery solutions for advanced aviation.
Earlier in March, the US Army awarded Lockheed
Martin (NYSE: LMT) a $219
million contract to produce more Early Operational Capability (EOC) Precision
Strike Missiles (PrSM).
The award is the fourth production contract to
date for the long-range surface-to-surface missile, which will allow for a
significant increase in production capacity to meet Army demand.
Lockheed Martin delivered the first missiles
in December 2023 following a successful November production qualification test.
Initial deliveries achieved a major
modernization milestone for the U.S. Army, securing needed long-range precision
fires capability.
“We’re proud to deliver this long-range
deterrent capability to our Army customer and continue work to advance the
program and production on an aggressive schedule,” said Jay Price, Vice President
of Precision Fires at Lockheed Martin.
Raytheon, an RTX (NYSE: RTX) business, was recently awarded a $1.2 billion contract to supply Germany with Patriot®
air and missile defense systems. These systems will augment Germany's existing
air defense infrastructure with additional Patriot equipment.
Patriot is a combat-proven air and
missile defense system. These new Patriot systems will augment Germany’s
existing air defense infrastructure.
The scope of the contract includes
the most current Patriot Configuration 3+ radars, launchers, command and control
stations, associated spares and support.
Patriot is the backbone of air
defense for 19 countries, including Germany, the US and Ukraine. The
formidable, combat-proven performance of Patriot continues to demonstrate its
effectiveness against the most advanced and complex threats.
"This contract reflects the
global emphasis on advanced air and missile defense capabilities and the
steadfast confidence in Patriot," said Tom Laliberty, President of Land
and Air Defense Systems at Raytheon. "With this expansion, Germany will
not only modernize its own significant air defense but enhance its
interoperability with allies and further strengthen a core NATO mission."
Also looking for a piece of the pie
in Germany, Northrop Grumman Corporation (NYSE: NOC) and Diehl Defence GmbH & Co. KG recently signed a Memorandum of Understanding (MOU) formalizing their
commitment to work together to support innovative layered air and missile
defense capabilities for Germany.
Northrop Grumman’s expertise in IAMD
and control capabilities, such as the US Army’s Integrated Battle Command
System (IBCS), complements Diehl’s state-of-the-art ground based air and
missile defense systems, such as IRIS-T SLM, by enabling integration and
interoperability with allied systems.
From
the news:
The MOU facilitates collaboration by allowing the companies to use their
expertise to explore advanced technologies that would support the seamless
integration of Germany’s air and missile defense systems. The memorandum also
addresses the critical need for NATO and European allies to modernize IAMD
capabilities.
For investors following the defense
sector, the rise in the number of conflicts and the increase in spending for
defense across the globe, make this a sector to watch. For smaller companies
like KULR Technology Group, Inc. (NYSE:KULR), the defense industry represents an opportunity to capitalize on their
innovative energy efficiency technology solutions and the sky is the limit.
Research defense stocks at
Investorideas.com
https://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
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