The Top AR Companies Already Seeing Sizable Demand in 2020

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, Feb. 12, 2020 /PRNewswire/ -- Global demand for augmented reality has become explosive. In fact, according to Global Market Insights, the market for AR products could surge up to 85% to $165 billion in the next four years. One of the top sectors where we're already seeing sizable demand is weapons. For example, the U.S. Army wants to buy enough AR goggles to outfit nearly half of all close combat forces, according to Marine Corp Times. "The service released its fiscal year 2020 budget, which will have to go through lengthy scrutiny and likely changes by Congress before becoming official, and is requesting 40,219 Integrated Visual Augmentation Systems, or IVAS." All of this is creating sizable opportunity for companies including NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR), American Outdoor Brands Corp. (NASDAQ: AOBC), Vista Outdoor Inc. (NYSE: VSTO), Sturm Ruger & Company Inc. (NYSE: RGR), and Lockheed Martin Corporation (NYSE: LMT).

NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, the leader in augmented reality for e-commerce and AR learning applications, has received a new order from Walther Arms, most famous as the manufacturer of James Bond's Walther PPK. Walther has been a NexTech customer since April 2019 and has had multiple expansion contracts in 2019 with the company. Walther has now signed a new 2020 expansion contract for three more AR experiences. Cody Osborn marketing manager at Walther Arms comments: "NexTech has provided Walther customers a unique experience in shopping for their handgun. We have seen a significant increase in time spent on each webpage that features the Augmented Reality button that NexTech has provided. Our new 2020 lineup of products continue to push the boundaries of performance in pistols, the Augmented Reality allows the customer to immerse themselves in every detail of the model before purchasing, furthering Walther's status as a performance leader."

Evan Gappelberg, CEO of NexTech comments: "Getting re-orders for our AR technology from Walther is a powerful affirmation and speaks volumes about how our customers feel about our product. Cody and Walther have recognized the unique and powerful advantage augmented reality can have in their marketing and sale of its products. We are looking forward to continuing to expand our partnership with Walther into even more areas in 2020 such as product training, which provides huge value and growth opportunities for both of our companies."