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ParaZero Secured Major Australian Order for Drone Safety Systems, Strengthening Industry Leadership

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ParaZero Technologies (Nasdaq: PRZO) has secured a significant order for its SafeAir™ systems from a major Australian drone technology distributor. This development follows the company's October 2023 approval from the Civil Aviation Safety Authority (CASA), which permits commercial drone flights over populated areas in Australia. The SafeAir™ system automatically detects flight anomalies and deploys parachutes to ensure safety during drone operations. The order strengthens ParaZero's position in Australia's growing drone market, where the company has established strategic partnerships with local distributors to make its CASA-approved safety systems widely available.

ParaZero Technologies (Nasdaq: PRZO) ha ricevuto un ordine significativo per i suoi sistemi SafeAir™ da un importante distributore di tecnologia drone in Australia. Questo sviluppo segue l'approvazione da parte della Autorità per la Sicurezza dell'Aviazione Civile (CASA) ottenuta a ottobre 2023, che consente i voli commerciali di droni su aree popolate in Australia. Il sistema SafeAir™ rileva automaticamente anomalie di volo e deploya paracadute per garantire la sicurezza durante le operazioni con i droni. L'ordine rafforza la posizione di ParaZero nel crescente mercato dei droni in Australia, dove l'azienda ha stabilito partnership strategiche con distributori locali per rendere i suoi sistemi di sicurezza approvati dalla CASA ampiamente disponibili.

ParaZero Technologies (Nasdaq: PRZO) ha conseguido un pedido significativo para sus sistemas SafeAir™ de un importante distribuidor de tecnología de drones en Australia. Este desarrollo sigue a la aprobación de la Autoridad de Seguridad de la Aviación Civil (CASA) en octubre de 2023, que permite vuelos comerciales de drones sobre áreas pobladas en Australia. El sistema SafeAir™ detecta automáticamente anomalías de vuelo y despliega paracaídas para garantizar la seguridad durante las operaciones de drones. El pedido refuerza la posición de ParaZero en el creciente mercado de drones en Australia, donde la empresa ha establecido asociaciones estratégicas con distribuidores locales para hacer que sus sistemas de seguridad aprobados por la CASA estén ampliamente disponibles.

ParaZero Technologies (Nasdaq: PRZO)는 주요 호주의 드론 기술 유통업체로부터 SafeAir™ 시스템에 대한 중요한 주문을 확보했습니다. 이 개발은 2023년 10월 호주 민간 항공 안전청 (CASA)로부터 상업 드론 비행을 인구 밀집 지역에서 허용하는 승인을 받은 것을 계기로 이루어졌습니다. SafeAir™ 시스템은 비행 이상을 자동으로 감지하고 드론 운영 중 안전을 보장하기 위해 낙하산을 배치합니다. 이 주문은 호주의 성장하는 드론 시장에서 ParaZero의 입지를 강화하며, 회사는 CASA 승인을 받은 안전 시스템을 광범위하게 제공하기 위해 현지 유통업체와 전략적 파트너십을 체결했습니다.

ParaZero Technologies (Nasdaq: PRZO) a obtenu une commande significative pour ses systèmes SafeAir™ d'un important distributeur de technologie de drones en Australie. Ce développement fait suite à l'approbation de l'Autorité de la sécurité aérienne civile (CASA) en octobre 2023, qui permet des vols de drones commerciaux au-dessus des zones peuplées en Australie. Le système SafeAir™ détecte automatiquement les anomalies de vol et déploie des parachutes pour garantir la sécurité lors des opérations de drones. Cette commande renforce la position de ParaZero sur le marché en pleine croissance des drones en Australie, où l'entreprise a établi des partenariats stratégiques avec des distributeurs locaux afin de rendre ses systèmes de sécurité approuvés par la CASA largement disponibles.

ParaZero Technologies (Nasdaq: PRZO) hat eine bedeutende Bestellung für seine SafeAir™-Systeme von einem großen australischen Drohnentechnologie-Distributor gesichert. Diese Entwicklung folgt auf die Genehmigung des Unternehmens von der Civil Aviation Safety Authority (CASA) im Oktober 2023, die kommerzielle Drohnenflüge über bevölkerte Gebiete in Australien erlaubt. Das SafeAir™-System erkennt automatisch Fluganomalien und setzt Fallschirme ein, um die Sicherheit während der Drohnenoperationen zu gewährleisten. Die Bestellung stärkt die Position von ParaZero im wachsenden Drohnenmarkt Australiens, wo das Unternehmen strategische Partnerschaften mit lokalen Distributoren aufgebaut hat, um seine von der CASA genehmigten Sicherheitsysteme weitreichend verfügbar zu machen.

Positive
  • Secured major order from Australian distributor
  • Obtained CASA regulatory approval for flights over populated areas
  • Strategic partnerships established with local distributors
Negative
  • None.

Insights

The Australian drone order, while showing market penetration, lacks critical financial details to make a meaningful impact assessment. With a micro-cap status of just $20.4M, ParaZero needs substantial revenue growth to justify investor attention. The CASA regulatory approval in October 2023 opened doors for commercial operations, but without order value specifics, quantifying the business impact remains speculative.

The Australian commercial drone market, projected to reach $14.5B by 2025, offers significant opportunities. However, the distribution agreement's undisclosed terms and lack of revenue guidance make it impossible to gauge the deal's materiality relative to ParaZero's size. Small-cap aerospace companies typically need orders of 5-10% of market cap to move the needle meaningfully.

Tel Aviv, Israel, Dec. 23, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company or “ParaZero”), an aerospace company focused on safety systems for defense and commercial drones and urban air mobility aircrafts, previously announced that it received an order for its SafeAir™ systems from a significant distributor specializing in drones and drone technology in Australia. 

This order, which was announced earlier this month, highlights ParaZero’s accelerating growth in the Australian drone market, fuelled by its recent regulatory approvals and strategic collaborations. As the adoption of drones expands across industries, ParaZero’s cutting-edge solutions reflect its commitment to set and advance the standards for drone safety, empowering operators to meet the highest safety standards while advancing innovation.

ParaZero’s SafeAir™ systems are designed to autonomously detect flight anomalies and deploy a parachute, minimizing risks and ensuring safety in complex drone operations. In October 2023, ParaZero’s technology received approval from the Civil Aviation Safety Authority (CASA), enabling commercial drone flights over populated areas and near people—a landmark regulatory milestone in Australia.

Collaborating with prominent local distributors has been central to ParaZero’s success in the region. By leveraging these partnerships, ParaZero has made its CASA-approved safety systems widely accessible, empowering operators to conduct advanced and safe drone missions.

“With this new order, we’re solidifying our position as a trusted partner for the Australian drone industry,” said Boaz Shetzer, CEO of ParaZero. “Our SafeAir™ systems provide exceptional reliability, enabling safe operations in a rapidly evolving regulatory landscape. This is another step forward in our mission to support the safe integration of drones into global airspace.”

Australia’s rapidly growing drone industry benefits significantly from safety technologies like ParaZero’s, which facilitate complex operations while ensuring compliance with stringent safety regulations. This order further establishes ParaZero as a preferred partner for distributors and operators seeking cutting-edge drone safety solutions.

About ParaZero Technologies

ParaZero (Nasdaq: PRZO) is a leading developer of autonomous parachute safety systems technologies for commercial and military platforms as well as for urban air mobility (UAM) aircraft. Started in 2014 by a passionate group of aviation professionals and drone industry veterans, ParaZero develops and manufactures smart, autonomous parachute safety systems designed to enable safe flight operations over populated areas and beyond-visual-line-of-sight (BVLOS) as well as for various military applications including Counter UAS. For more information about ParaZero, please visit https://parazero.com/

Forward- looking statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, ParaZero is using forward-looking statements when it discusses its mission to support the safe integration of drones into global airspace. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on From 20-F for the year ended December 31, 2023. Forward- looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. ParaZero is not responsible for the content of third-party websites.

Investor Relations Contact:

Michal Efraty
Investor Relations
michal@efraty.com


FAQ

What is the significance of ParaZero's CASA approval in Australia for PRZO stock?

The CASA approval enables ParaZero's systems to be used for commercial drone flights over populated areas in Australia, expanding market opportunities and potential revenue streams.

How does ParaZero's SafeAir system work for drone safety?

SafeAir™ systems autonomously detect flight anomalies and deploy a parachute to minimize risks during complex drone operations.

When did ParaZero (PRZO) receive its CASA approval in Australia?

ParaZero received approval from the Civil Aviation Safety Authority (CASA) in October 2023.

What is the impact of the Australian distributor order on PRZO's market position?

The order strengthens ParaZero's position in the Australian drone market and demonstrates growing demand for their safety systems.

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