Intermap's streaming service reduces the cost of data acquisition and management
High demand for elevation data as a service as the aviation industry recovers
DENVER, Jan. 24, 2022 /CNW/ - Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) ("Intermap" or the "Company"), a global leader in geospatial content development and intelligence solutions, today announced a new contract with a leading European airline to provide elevation data as a service for route planning operations through an online data subscription service.
The European airline has subscribed to Intermap's web services to access high-resolution NEXTMap® elevation datasets. This subscription enables the airline to access terrain data on-demand to visualize terrain and perform line-of-sight analyses to model safer and more efficient routes in parallel with other operations and engineering software tools. Access to data through web services increases operational efficiency and reduces the cost of data acquisition and management.
The worldwide airline industry was heavily affected by the pandemic, with market size decreasing from $818 billion in 2019 to $359 billion in 2020. In 2021, the market began to pick up again with an increase in market size of $112 billion and is predicted to increase further to $591 billion in 2022 (Source). As the airline industry recovers from the pandemic and returns to regular operations, it is even more valuable to offer solutions that reduce cost and boost efficiency.
Airline operators and their service providers require high-resolution and high-accuracy data to perform analyses, such as drift down procedures and approach design around airports. With worldwide coverage, NEXTMap web services provides customers with a data streaming service to access high volumes of geographically diverse data to perform analyses without needing to acquire, store and maintain in-house datasets. NEXTMap elevation data is stored in the cloud and continually updated so customers have instant access to the most up-to-date data, further improving results.
NEXTMap web services is one of a suite of products and services Intermap offers to the aviation market. Intermap also provides Lido Surface Data NEXTView™ (NEXTView), the industry's first and only EASA-certified digital surface model, developed exclusively in partnership with Lufthansa Systems. NEXTView is a critical component for avionics, synthetic vision, terrain awareness and ground proximity warning systems, navigation, simulation, landing site evaluation and drone operations and planning. Integrating NEXTView into UAS and UTM navigation systems enables operators to plan and execute UAV flights based on predetermined flight paths, ensuring safety and efficiency in all environments. Intermap's suite of elevation datasets are also used to support research and development opportunities such as GPS-denied navigation in partnership with the U.S. Air Force and low latency foundation data with the National Geospatial-Intelligence Agency (NGA).
"Intermap's new airline contract will enable operations teams to visualize and plan safer and more efficient routes for all its service locations around the world," said Patrick A. Blott, Intermap Chairman and CEO. "COVID-19 delayed several aviation projects and we are pleased to see the market and demand for elevation data pick up again. Intermap's globally available and seamless elevation datasets can be integrated into existing workflows to provide airlines with critical data in their flight planning operations."
Learn more about Intermap's aviation and NEXTMap products and solutions.
Intermap Reader AdvisoryCertain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", "will be", "will consider", "intends" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap's forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap's Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
About Intermap TechnologiesFounded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company's proprietary 3D NEXTMap® elevation datasets and value-added geospatial collection, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data. Intermap helps governments build authoritative geospatial datasets and provides solutions for base mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company's commercial applications include aviation and UAV flight planning, flood and wildfire insurance, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation. For more information, please visit www.intermap.com.
SOURCE Intermap Technologies Corporation
For further information: please contact: Jennifer Bakken, Executive Vice President and CFO, [email protected], +1 (303) 708-0955
