Stratech and Aeronautics Form Strategic Alliance
Joint Venture to Target US$62 Billion UAV Market
Singapore, 2 February 2010 – Singapore Exchange Mainboard-listed Stratech Systems Limited (“Stratech” or “the Group”) today announced that it is signing an agreement to form a Joint Venture with Aeronautics Ltd. (“Aeronautics”) to target the Unmanned Aerial Vehicles (UAV) market in the Asia Pacific.
The Teal Group's 2009 market study estimates that UAV spending will double over the next decade from the current worldwide UAV expenditures of US$4.4 billion annually to US$8.7 billion within a decade, totaling just over US$62 billion in the next 10 years.
The Joint Venture – Stratech Aeronautics Pte. Ltd. – will build, operate and maintain Unmanned Aircraft Systems and Unmanned Surface Vehicles (or USVs, vehicles that operate on the surface of water without a crew). Stratech and Aeronautics will bring the two companies’ products and capabilities together and build new technologies. Stratech Aeronautics Pte. Ltd. will operate out of Singapore and cover the Asia Pacific
Dr. David K.M. Chew, Executive Chairman of Stratech, said: "The Joint Venture is set to target the enormous UAV market. Stratech has emerged as a global leader in intelligent Vision which is key to unmanned vehicles and surveillance. Besides go-to-market in the Asia Pacific, Stratech will work with Aeronautics to develop applications for the Homeland Security market. Stratech Aeronautics will also develop products and capabilities to address the growing number of civil applications, such as rescue operations during natural disasters, anti-piracy, the surveillance of pipelines and strategic asset protection. I am confident that this Stratech, Aeronautics Joint Venture will bring about a catalytic effect on each other.”
Mr. Avi Leumi, CEO of Aeronautics Ltd., said: "Aeronautics is proud to have Stratech Systems as our partner for the Asia Pacific region. We see huge potential in this market, and we are positive that together, Stratech Aeronautics will accomplish great achievements in the near future. The synergy and cooperation between the two companies will create an unmatchable force multiplier providing better systems and solutions to our global customers. We look forward to working shoulder to shoulder with our new partner towards a promising future."
About Stratech Systems Limited (“Stratech”)
Stratech Systems Limited ("Stratech") was listed on the mainboard of the Singapore
Exchange in 2000. It is principally engaged in the design, development, integration,
implementation, maintenance and project management of information technology
and advanced technology systems. The Group delivers large-scale complex, real-time, mission-critical systems in the areas of intelligent Vision, intelligent Transport
Systems and e-Systems for governments and businesses.
Founded in 1989, the Group has established an impressive track record serving industries such as aerospace and defence, financial services, government, healthcare, homeland security and transportation (air, sea and land). The Group develops and implements advanced technology solutions that achieve significant business transformation and competitive advantage for its clients.
For more information, please visit www.stratechsystems.com
About Aeronautics Ltd (“Aeronautics”)
Aeronautics, based in Yavne, specializes in advanced technologies for the civilian and defense sectors, develops unmanned systems, communications and sensors, as well as command and control systems (C4I) for customers in Israel and around the world.
Stratech Systems Limited
Tel: 972-8-9433600 #640