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4-Traders Homepage  >  Equities  >  Nyse  >  Harris Corporation    HRS

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Harris : Developments in the Public Safety and Security Markets

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04/26/2017 | 03:01pm CEST

NEW YORK, April 26, 2017 /PRNewswire/ --

According to a report published by MarketandMarkets, the public safety and security market size is expected to grow from USD 247.53 Billion in 2016, to USD 456.56 Billion by 2021 or at an estimated compound annual growth rate (CAGR) of 13.0%. Continuous threats from cybercriminals, natural disasters, and terrorist attacks, have increased the demand for public safety and security solutions. The report indicates that North America is projected to dominate the market during the forecast period due to the presence of large number of public safety and security vendors in the region. In the meantime, increasing public safety spending and developments of major infrastructure projects in the emerging countries are driving growth in Asia-Pacific. Patriot One Technologies Inc. (OTC: PTOTF) (TSX-V: PAT.V), Textron Inc. (NYSE: TXT), 3M Co. (NYSE: MMM), General Dynamics Corporation (NYSE: GD), Harris Corporation (NYSE: HRS)

The report also indicates that managed services in public safety and security market are expected to experience the fastest growth from 2016 to 2021, as the demand for effective security management systems continues to increase. On the other hand, the critical communication networks segment is projected to have the largest market share due to growing adoption for critical communication networks solutions for better mission-critical communications.

Patriot One Technologies Inc. (OTCQB: PTOTF) (TSX-V: PAT) is a developer of a revolutionary concealed weapons detection system. Earlier today the company announced, "its entry into an agreement with a strategic industry partner aimed at significantly broadening its ongoing product commercialization activities.

The opportunity is being undertaken with a well established and industry leading organization recognized as a Tier 1 Systems Integrator with offices and facilities around the globe. Patriot One has entered into an agreement which provides for a technical evaluation by both parties to identify operational efficiencies and opportunities employing Patriot One's concealed weapons detection software and related hardware components. This will be accomplished through a series of integration tests with the partner."

Patriot One Technologies CEO, Martin Cronin notes, "Working with major commercial partners exactly aligns with our business model, as it offers extraordinarily attractive opportunities to propel our product roll-out and holds the potential to drive significant awareness of our product's ability to decrease the menace of random public violence. We are benefitting from a period of intensifying interest and have greatly appreciated inquiries from a number of leading integrators, major potential distributors and resellers from literally around the globe. We attribute much of this interest to our recent and highly successful award-winning debut at ISC West in Las Vegas. Its an exciting time at Patriot One and we thank everyone for their ongoing commitment and interest in our endeavor."

Textron Inc. (NYSE: TXT) announced earlier in March that it has signed a purchase agreement for a Bell 429 to the Arizona Department of Public Safety (DPS) Aviation Bureau while at this year's HAI Heli-Expo in Dallas. Arizona DPS Aviation Bureau's new aircraft will be delivered in 2017 and will be used for search and rescue, border protection and law enforcement. "The Bell 429 has made a name for itself around the world as playing a vital role for mission critical helicopter operations," said Anthony Moreland, Bell Helicopter's Managing Director for North America. "It's our honor to have the Arizona DPS Aviation Bureau put their trust in Bell Helicopter and in the Bell 429 and we look forward to continuing our strong relationship of more than 40 years."

3M Co. (NYSE: MMM) revealed in September 2016 a new facial recognition system that is both extremely scalable and easily configurable, 3M Live Face Identification System uses live video to match identities in real time. The system automatically recognizes multiple faces simultaneously from live or imported footage in order to identify individual people from dynamic, uncontrolled environments. "Developed through years of thoughtful research, Live Face Identification System increases the accuracy of matches and the likelihood of a successful ID by utilizing a several-to-many comparison," said Christopher Ede, Global Business Manager for 3M Cogent. "Knowing the challenges that law enforcement and border patrol agents are faced with when providing security for uncontrolled environments, 3M's new software is truly an effective yet practical solution for proactive security."

General Dynamics Corporation (NYSE: GD) revealed this April that their Remote Video Surveillance System (RVSS) upgrade has achieved a 'Full Operating Capability' (FOC) designation by the U.S. Department of Homeland Security's Customs and Border Protection (CBP). This key milestone was achieved after two years of successful deployment and field testing along the southern border and underscores the operational impact this solution provides to the U.S. Border Patrol. "The deployment of the Remote Video Surveillance System is important to the safety of our agents and to our mission," said Ronald D. Vitiello, Chief of CBP's U.S. Border Patrol. "Successful partnerships like the one we have with the General Dynamics team, are necessary to efficiently and effectively secure the border."

Harris Corporation (NYSE: HRS) has received National Security Agency (NSA) Type-1 certification for the Harris Falcon III(R) RF-300H wideband HF manpack radio system. The Type-1 certification enables transmission of classified images, maps and other large data files from beyond-line-of-sight environments in a compact, lightweight package. "This RF-300H NSA certification allows us to continue providing leading-edge secure communications technology to the warfighter who needs to be prepared for any situation," said Chris Young, president, Harris Communication Systems.

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Financials ($)
Sales 2017 5 826 M
EBIT 2017 1 104 M
Net income 2017 670 M
Debt 2017 3 377 M
Yield 2017 -
P/E ratio 2017 20,34
P/E ratio 2018 17,99
EV / Sales 2017 2,96x
EV / Sales 2018 2,78x
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Average target price 119 $
Spread / Average Target 7,4%
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William M. Brown Chairman, President & Chief Executive Officer
Rahul Ghai Chief Financial Officer & Senior Vice President
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Thomas Aquinas Dattilo Lead Independent Director
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