RADA reports $56 Million in New Orders in H1 2021
6 July, 2021
RADA provides military mini-tactical radars to the armed forces of more than 30 countries. "The new orders increase our confidence in our revenue guidance of over $120 million for 2021"
The provider of Software Defined Tactical Radar Systems, RADA Electronic Industries, has announced the receipt of $56 million of new orders in the first half of 2021, including $32 million in new orders during the second quarter 2021. This figure represents a growth of 37% in new orders when compared to the first half of 2020. The majority of these new orders will be delivered during 2021.
Of these new orders, approximately 91% were orders for RADA’s software-defined tactical radars for counter UAV, short-range air defense and counter fires (C-RAM), with 64% of the orders coming from the US market and 27% from the rest of the world. The remaining 9% were for RADA’s legacy avionics systems. Dov Sella, RADA’s CEO, said that the new orders, “increase our confidence in our revenue guidance of over $120 million for 2021.” Following the announcement, Rada’s shares in NASDAQ rose by 6%, bringing the company value to $568 million.
RADA provides military mini-tactical radars to the armed forces of more than 30 countries, including IDF and the US Army. It works closely with leading defense integrators such as Rafael, Elbit, Israel Aerospace Industries, Lockheed Martin, Boeing, Leonardo DRS, Rheinmetall Air Defense, Hindustan Aeronautics (HAL) and Embraer. Its radars sit at the heart of combat-proven Active Protection Systems (APS) and Vehicle Protection Systems (VPS) which expected to be installed in future combat vehicles og many armed forces around the world.