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The Ubika Research Tech Stock Watchlist
| Star Navigation Systems Group Ltd (V.SNA) |
| Company Name: |
Star Navigation Systems Group Ltd |
| HQ Location: |
Toronto, Ontario |
| Company Website: |
http://www.star-navigation.com |
| Shares Outstanding |
155.2 Million |
| Market Cap: |
$52.7 Million |
| 52 Week Range |
$0.04-$0.48 |
| Average Daily Volume |
1.2 Million |
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Share Highlight / 1-Year Stock Chart
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Business Overview
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance-trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator.. + More info
What is interesting?
- Star is a late stage development company still in the pre-revenue stage but offer operators of land, sea and air assets real-time data solutions which allow them the opportunity to reduce costs, track assets and enhance aviation and operator safety.
- Its flagship product is called TERRASTARTM, an on-board monitoring system that securely transmits flight data and incident alerts in "real time". TERRASTARTM continuously monitors selected avionics systems on the aircraft as it flies, instantly analyzes the data, and transmits the data and any incident alerts, via satellite to the operator. This system provides an operator's ground personnel the ability to monitor trends, predict possible failures, schedule repairs, and assist the flight crew to take preventive action as required. It acts as an early warning system, detecting the earliest signs of potential problems. Importantly, it performs these functions in "real-time" providing essential safety monitoring to the benefit of passengers, aircraft personnel, and grounds crew.
- At the core Star’s product is aimed at improving airline safety. Currently most of the aircrafts have flight data recorders that are commonly called a “blackbox” that records aviation electronics and is not connected to ground operations. This blackbox is a 30 year old technology. But this system is having challenges as they are not connected to ground and there have been several instances were the “blackbox” haven’t been retrieved or were retrieved in damaged condition. Most recent tragic example was the crash of the Air France flight, off the Brazilian coast were the flight recorder (black box) could not be retrieved from the Atlantic Ocean.
- Star has patents for this product in major markets in the world like US, and has managed to sell some units but mostly at cost as demonstration sales.
- The substantial reduction in satellite communication cost makes this product now viable.
- For a late stage development company Star has assembled an impressive advisory board of professionals with decades of experience in the aviation industry.
- Star is currently testing their product with Pakistan International Airlines in one of the Airbus A 310 aircrafts. The technology has application across all kind of aviation including, commercial, business, military and other type of aircrafts. Given the cost of these airplanes and the human element involved in aircraft world safety is critical. Hence if this technology is commercially successful and adopted this could be a multi-billion dollar market.
- The company has signed a collaboration agreement with Astrium Ltd. Astrium, a recognized leader in the development and manufacture of various types of satellite, ground, seaborne and airborne communications, launchers and orbital infrastructure and the development and delivery of satellite services, is a wholly owned subsidiary of EADS, a global leader in aerospace, defence and related services. EADS is the maker of Airbus aircraft.
- Recently completed a private placement to raise over $2 Million dollars
- Skylink Aviation Inc a charter flight operator in some of the hostile regions in the world like Afghanistan has made an order for over 30 units of TERRASTAR: RTM™ Lite Flight Tracking and Communication technology unit.
Risks
Aviation is a highly regulated industry; new products and technology takes years to be approved by regulators for deployment. Deploying into different markets will require local regulatory approval hence the sales cycle will be long. Company is still not making profits so will require additional capital to stay in business.
Star Navigation Systems Group Ltd. News
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