RADA Announces $20M in New Orders

RADA Electronic Industries Ltd. has announced the receipt of $20 million in accumulated new orders since mid-September 2020.

To date, the aggregate amount of new orders since the beginning of 2020 has reached $79 million, compared to $41 million received over the same period in 2019, showing an increase of over-92% year-over-year.

All of these $20 million in new orders are for software-defined tactical radars for the US market, demonstrating immediate needs for RADA's tactical radars in all of the relevant market segments that these radars are addressing: counter small unmanned aerial systems (C-sUAS), short range air defense (SHORAD), counter rockets, artillery and mortars (C-RAM), and vehicle protection solutions (VPS). Most of these new orders were follow-ons from customers which have placed initial orders earlier this year and moved to wider-scale orders after rigorous testing and evaluation.

Deliveries of these orders are planned to be spread along the first half of 2021.

Dov Sella, RADA's CEO, commented,

$60 million

Source: Press Release