Ondas Inc. (ONDS) Receives More Than $40 million in New Orders for Autonomous Defense Systems

Ondas Inc. (NASDAQ:ONDS) is one of the 10 best stocks under $10 offering more than 50% upside.

On June 22, Ondas Inc. (NASDAQ:ONDS) reported that it received over $40 million in new orders for autonomous defense systems in June from governmental and defense clients in various international markets. These orders comprised ground systems, Loitering Munition Systems (LMS), Counter-UAS (C-UAS) solutions, and associated defense solutions. These new orders, when combined with previously announced awards, push Ondas’ order activity for the second quarter in excess of $150 million.

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As governments and military forces react to the fast-changing threats posed by unmanned aircraft systems and the increasing need for long-range precision attack platforms, Ondas’ autonomous defense technologies continue to be in high demand, as seen by the new awards. According to Ondas, the same operational factors that are fueling the call for C-UAS technologies are also driving the expansion of the LMS market.

As per Ondas, a multibillion-dollar market potential is being driven by increasing global defense budgets, quick uptake of autonomous technologies, and lessons learned from recent conflicts. The business anticipates high demand for scalable, affordable autonomous defense solutions in the areas of robotics, ISR, LMS, electronic warfare, AI-powered command-and-control systems, and C-UAS.

Ondas Inc. (NASDAQ:ONDS) develops and sells private wireless networks, autonomous drones, and automated data solutions and platforms through its two segments, i.e., Ondas Networks and Ondas Autonomous Systems. Its offerings include FullMAX, FullMAX SDR, Optimus, Insightful, and Raider, which have mission-critical applications.

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