ShotSpotter Inc. (SSTI), the manufacturer of defense solutions, has entered into a partnership with seven small cities in the United States. These locations will become a wide market for the business, creating a stable cash flow.
The latest contracts allow for the implementation of the detection device for ShotSpotter Response in seven cities with a population of less than 50 thousand. This is ShotSpotter’s signature approach, which is marketed as a tool to minimize the number of situations where weapons are used. The device uses microphones that can be put into street lights and other components of urban infrastructure to detect gunshots. It can estimate the probable type of weapon, the number of shots, and the rate of fire depending on the characteristics of sound waves.
An optimistic indicator is the localities’ implementation of technology that might measure the experience of using ShotSpotter technologies in the nearest major cities. So, one of the latest clients was Chicago’s two rival cities. The device will allow them to rapidly respond to shooting accidents, according to local authorities.
In general, for ShotSpotter, the targeted market for such locations is very broad, with around 850 U.S. cities. They can introduce systems that require large-scale microphone networks even quicker than large cities. Any future improvements to gun regulations are likely to be an external factor in the growth in sales of ShotSpotter, such as reducing the number of locations licensed to fire civilian guns.
The stock of ShotSpotter Inc. (SSTI) was worth $44.60 when trading on January 13.