Ondas (ONDS) Soars 10.15% as Firm Hints At Multi-Billion-Dollar Market

We recently published 10 Market Winners With Stunning Gains. Ondas Inc. (NASDAQ:ONDS) was one of the best performers on Wednesday.

Ondas saw its share prices jump by 10.15 percent on Wednesday to close at $11.07 apiece as investors resumed buying positions after the company hinted at tapping a multi-billion-dollar market in Europe.

In a statement on Tuesday, Ondas Inc. (NASDAQ:ONDS) announced that its subsidiary, Sentrycs, is set to unveil its new man-carried system called Scout at the Enforce Tac exhibition in Germany, marking its entry into a multi-billion-dollar segment.

Scout is a compact, battery-powered Counter-UAS system designed for law enforcement and tactical forces, which enables rapid deployment of passive detection, tracking, identification, and cyber-based mitigation in a lightweight, man-portable format, without reliance on fixed infrastructure.

Ondas Inc. (NASDAQ:ONDS) said that Scout is ideal for tactical force protection, convoy security, VIP safeguarding, border enforcement, and infrastructure patrols.

Based on market research from Grand View Research, Ondas Inc. (NASDAQ:ONDS) estimates the five-year total addressable market for handheld counter-UAS systems to be approximately $9.8 billion globally, paving the way for a strong commercial opportunity for compact, field-deployable counter-drone solutions across defense, law enforcement, and homeland security markets.

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Disclosure: None. This article is originally published at Insider Monkey.