Orbit Communications Systems (News - Alert) Ltd., a subsidiary of ORBIT Technologies Ltd., announced an order yesterday by the Brazilian Air Force to supply communication systems for its P-95 maritime patrol aircraft.
A publicly traded company, Orbit claims a customer base that includes 20 different navies as well as major players in both aeronautics and communications markets. The company is a developer of maritime patrol and surveillance technologies, and boast, among other things, a compact broadband communication systems, an antenna control unit to track the movement, position and data transmission of antennae, and systems that provide for the simultaneous operation of multiple channels and bands of satellite and communication equipment.
The company’s latest press release claims that “maritime patrol and surveillance is one of the fastest growing defense markets,” though a Homeland Security Market Research report records an 8.3 percent drop in maritime security as of 2009. However, Orbit predicts a comeback, and it is probable that one is already underway, having been galvanized by threats of global terrorism, piracy and international drug trafficking. This prediction sets the market to grow to 12.8 billion by 2014 at a compound annual growth rate of seven percent.
Brazil has the largest military and economy in South America, both of which are the second largest in the Western Hemisphere in their respective domains. Its maritime operations protect the sixteenth largest coastline in the world. The Brazilian Air Force’s order of Orbit products is part of their effort to modernize their P-95 fleet, 10 of which are reserved for maritime patrol.
Following the announcement, the company’s stock closed at 1,150, up 6.98 percent from the previous day.
Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida. Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.
Edited by Stefanie Mosca