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TEL AVIV - ParaZero Technologies Ltd. (Nasdaq:PRZO), a $27.3 million market cap aerospace defense company whose stock has gained 119% over the past year, has received marketing approval from Israel’s Defense Export Controls Agency (DECA) for its DropAir Precision Airdrop System integrated with Steadicopter’s unmanned aerial platforms, the company announced Tuesday.
The authorization allows both companies to market their joint solution to global clients across commercial, defense, and humanitarian sectors. The system is designed for delivering payloads such as medical supplies, tactical gear, and humanitarian aid in challenging terrain. According to InvestingPro data, ParaZero has demonstrated strong revenue growth of 50% in the last twelve months, though the company faces challenges with its gross profit margins.
The DropAir system, when integrated with Steadicopter’s unmanned aerial platforms, offers autonomous deployment capabilities for missions in remote or high-risk environments.
"Receiving DECA’s export approval is a direct result of our continued efforts to develop and deliver mission-ready aerial solutions," said Ariel Alon, CEO of ParaZero.
Noam Lidor, VP Sales, Marketing & Business Development at Steadicopter, added that the integration "enables precise and safe aerial delivery of life-saving civilian and military equipment to remote and hard-to-reach areas."
The system is intended for various applications including critical resupply missions and search and rescue support operations at sea and on land.
ParaZero, an aerospace defense company founded in 2014, specializes in autonomous solutions for manned and unmanned aerial systems. Its product portfolio includes SafeAir, an autonomous parachute recovery system, DefendAir, a counter-UAS platform, and DropAir. The company’s stock shows unique characteristics with a beta of -0.14, typically moving opposite to market trends. InvestingPro subscribers have access to 12 additional key insights about ParaZero’s financial health and market performance metrics that could be crucial for investment decisions.
Steadicopter develops rotary tactical unmanned aerial systems for military, homeland security, and civilian missions.
This announcement is based on a press release statement from ParaZero Technologies.
In other recent news, ParaZero Technologies Ltd. has completed a field trial for an enhanced version of its DefendAir system, which expands its drone defense capabilities. This trial, conducted in Israel, featured a new stationary net turret launcher system that provides 360-degree perimeter defense against hostile drones. The system includes an optical detection and tracking component for fully autonomous threat detection and interception. Furthermore, ParaZero’s DefendAir Personal Net Gun System achieved a 100% interception rate during a live demonstration for Israeli security and defense professionals. The demonstration showcased the system’s ability to neutralize fast-approaching multirotor drones in real-time threat scenarios. In corporate developments, ParaZero announced the appointment of Ariel Alon as its new CEO, effective immediately. Alon brings a wealth of experience from various sectors, including unmanned aircraft systems and defense. These developments indicate significant advancements in ParaZero’s drone defense technology and leadership.
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