logo-loader

CAE to invest CDN$714 mln in flight simulation R&D project

Published: 21:17 31 Mar 2009 BST

no_picture_pai

Canadian flight simulation and modelling specialist CAE Inc announced it will invest up to CDN$714 million in Project Falcon, a research and development program that will span five years.

The goal of Project Falcon is to expand CAE's current modelling and simulation technologies, develop new ones and increase its capabilities beyond training into other areas of the aerospace and defence market, such as analysis and operations.

The Canadian government will participate in Project Falcon through a repayable investment of up to CDN$250 million. This investment is being made through the Strategic Aerospace and Defence Initiative (SADI), which supports strategic industrial research and pre-competitive development projects in the aerospace, defence, space and security industries.

"Innovation is essential for CAE in order to sustain its leadership position in modelling, simulation and training. We will therefore, continue to invest in R&D, even in these challenging times," said Robert E. Brown, President and chief executive.

As part of Project Falcon, CAE will develop an augmented visionics system-a technology enabling a pilot to take off and land safely even when visibility outside the cockpit is restricted. CAE will expand its research and development initiatives in its traditional training markets, including simulation and modelling for new types of aircraft, unmanned vehicles and replacement models for current aircraft. CAE will also develop networking technologies to allow defense forces of many nations to participate simultaneously in real time training and mission rehearsal exercises.

Through the course of the program, approximately 1,000 jobs will be created or maintained, Cae said, adding it will carry out Project Falcon in Canada, utilizing its R&D laboratories, and test and integration facilities in Montreal, where it is headquartered.

With annual revenues exceeding CDN$1.4 billion, CAE employs approximately 7,000 people at more than 75 sites and training locations in 20 countries.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

2 hours, 58 minutes ago