US Army to Proceed with Iron Fist Light APS Supported by RADA’s Software-Defined Radars
December 20 2018 - 8:57AM
RADA Electronic Industries Ltd. (NASDAQ: RADA) today announced that
following the recent announcement by General Dynamics (Link to
GD-OTS News Release) of a positive Army Requirements’ Oversight
Council (AROC) decision, Phase II of the Iron Fist Light (IFL)
Active Protection System (APS) for the Bradley Fighting Vehicle is
moving forward.
The project is a joint venture between General
Dynamics’ (NYSE: GD) subsidiary, General Dynamics Ordnance and
Tactical Systems, together with Israel Military Industries (IMI),
which was recently acquired by Elbit Systems (NASDAQ: ESLT). RADA
is the provider of the radars to the Elbit/IMI IFL system.
The IFL system is a lightweight APS, providing
enhanced survivability for armored and tactical platforms. RADA’s
software defined radars identify and precisely track incoming
threats, from any direction, in real time. The system then
intercepts the threat by launching a small warhead and activating
it at a safe distance from the protected platform at a precisely
calculated moment, defeating the threat through a shock-wave
effect.
In phase II of the IFL for Bradley project, RADA
expects to receive near-term orders for the supply of radars for
qualification testing, and the current potential is to equip one US
army brigade of Bradley armored vehicles. This phase is expected to
continue into the years 2020 and 2021.
Commented Mr. Dubi Sela, CEO of
RADA, “The IFL is the ideal candidate for protecting the
Bradley Fighting Vehicle, as the US Army continues its upgrade
program for its primary troop carrier. Fielding Active Protection
capabilities has been identified as a current and urgent need by
the US Army. The APS market potential for RADA in the coming years
is estimated at a few thousand vehicles of various types, just in
the United States, while the total global potential is
significantly greater. We are very proud to be a key technology
provider for the Active Protection market, a new and emerging
market which is heading mainstream in the USA and globally.”
About RADA
RADA Electronic Industries Ltd. is an
Israel-based defense electronics contractor. The Company
specializes in the development, production, and sales of Tactical
Land Radars for Force and Border Protection and Avionics Systems
(including Inertial Navigation Systems) for fighter aircraft and
UAVs.
Forward Looking Statements
Certain statements in this press release are
“forward-looking statements” within the meaning of the Private
Securities Litigation Act of 1995. Such statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results to differ materially. Such risk uncertainties and
other factors include, but are not limited to, changes in general
economic conditions, risks in product and technology developments,
market acceptance of new products and continuing product demand,
level of competition and other factors described in the Company’s
Annual Report on Form 20-F and other filings with the Securities
and Exchange Commission.
Company Contact: Avi Israel, CFO Tel:
+972-9-892-1111mrkt@rada.com www.rada.com |
Investor
Relations Contact:Ehud Helft/Gavriel FrohweinGK Investor &
Public RelationsTel: +1 646 688 3559rada@gkir.com |
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