RADA Electronic Industries Ltd. (NASDAQ: RADA) (TASE: RADA) announces the receipt of production orders and commitments from customers, totaling $5 million, for its new and innovative exMHR radar platform.
This new software-defined radar platform is in advanced integration and testing stages, while field tests and demonstrations are scheduled to commence in early 2022. Deliveries to customers will commence in mid-2022.
We are highly encouraged with the confidence and trust that our customers have put in us, by placing orders for production deliveries while lab tests are still ongoing. Over two years ago, given the evolving threats to maneuver forces and critical infrastructure, we identified the need for tactical radars with extended ranges and increased accuracy, and have developed the exMHR in record time. It demonstrates the uniqueness of our ‘RADA Inside’ business model, which translates market needs into our off-the-shelf products using internal resources, and then delivering these new best-value products quickly into the hands of our customers. We are currently finalizing the production line in parallel to prototype testing and plan to have our serial production capability for this new radar ready by mid-2022.
This new product broadens our Total Addressable Market (TAM) significantly and builds on our strong market-leading competitive advantage. Furthermore, our main customers are surfacing the ‘solutions-as-a-service’ approach to getting military COTS systems fast, and we are highly inclined to exploit this market trend. All in all, we are very excited with the strong potential ahead and over the coming years and we expect that the exMHR will become another major growth engine for us.
Dov Sella, RADA’s CEO
The exMHR is a cutting-edge software defined, multi-mission 4D AESA pulse-Doppler radar platform. It is focused on Short-Range Air Defense (SHORAD), Counter-UAS, Counter-Rockets, Artillery and Mortars (C-RAM) and gap-filling operational missions. Its unique antenna topology, along with sophisticated signal processing and algorithms, enable the exMHR to demonstrate extended fire-control tracking accuracies along with multipath and clutter handling and suppression. Supporting on-the-move operation, it provides the maneuver force with comprehensive air defense and active defense solutions with unmatched SWaP-C superiority.