Israeli defence technology company RADA Electronic Industries has announced the receipt of USD24 million of new orders in the first quarter of 2021, including USD9 million in new orders during March 2021. This figure represents a growth of 50% in new orders during the first quarter when compared to the first quarter of 2020. The majority of these new orders will be delivered during 2021.
Of these new orders, approximately 90% were orders for RADA’s software-defined tactical radars for counter UAV, short-range air defence (SHORAD) and counter fires (C-RAM), with 40% of the orders coming from the US market and 50% from the rest of the world. The remaining 10% were for RADA’s legacy avionics systems production.
RADA CEO Dov Sella said, “The 50% growth in new orders in the first quarter, when compared to last year, increases our confidence in our revenue guidance of over USD120 million for 2021. We are particularly pleased with the flow of new orders coming from non-US markets. At the same time, we are satisfied with the continued stability in our legacy avionics business demonstrating an annual revenue rate of approximately USD10 million.”
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