When was the last time you used Google or Apple maps? Perhaps just yesterday as you cast around for that eatery or maybe even on your way to work. With Google maps, you can zoom in and out of areas, discover precise locations and even get recommendations on how to get to your destination through different modes of transport. It allows for the perfect trip planning.
Most of us are super reliant on map apps to get us places, no matter how close or far. After all, they let us shut off our brains and go into autopilot mode. However, we’re not the only ones getting the most out of such mapping tech. Government agencies, too, use aerial imaging software, like the one by Aussie geospatial tech company Aerometrex (ASX: AMX), to plan and visualise projects and even monitor them.
In fact, Aerometrex has bagged a contract worth $1.88 million with an Australian Federal Government Agency for its aerial mapping technology LiDAR, a.k.a. Light (or Laser imaging), Detection and Ranging.
A notch up from standard aerial imagery, LiDAR’s tech allows companies to get super accurate data about a location. Considering the devastating floods that hit the country last year and frequent forest fires, mapping technology like this can help reveal the vulnerabilities across terrains and create an action plan beforehand.
Commenting on the sale, Aerometrex CEO, Steve Masters, said, “We are delighted to have been awarded this work which builds on the sale of datasets to the Australian Federal Government in June 2022. This contract win validates the company’s decision to continue to invest in our LiDAR business through the acquisition and deployment of our fifth LiDAR sensor in Q2 of FY23 and represents the largest single contract award within our LiDAR division. This aligns with our focus on building strong pathways to profitability and cashflows underpinned by the quality of the client.”
Aerometrex offers a range of geospatial tech, including its subscription-based aerial imaging tech MetroMap and a 3D modelling service. Its LiDAR arm is used to survey a complex terrain using laser pulses and create a 3D model of it. Lasers, sensors and GPS systems—enabled by the Company’s aircraft and laser-pointing measurement technology—help create a raw earth replica that can be used to understand an area’s vegetation or infrastructural capabilities, among other things. It can also be used to analyse the aftermath of a bushfire or flood.
Not only does LiDAR help understand present-day surface and potential future problems. It also helps us delve deeper into the past. The tech has allowed archaeologists to discover ancient cities in Cambodia along with other ancient civilisations.
In FY22, Aerometrex’s LiDAR tech achieved a 26.8% growth in revenue to $11.3 million, largely thanks to the addition of one new sensor and upgrades in existing lasers. Plus, its adoption by tech giants like Google added to its popularity. Last month, the Company provided Google with data licenses for its 3D models of Las Vegas, San Francisco, Denver and San Diego among others.
As companies try to create more sustainable and self-sufficient cities, 3D models and aerial mapping will be called upon for optimal results.
The revenue from this Government contract win will be recognised on the delivery of data for each capture area to the client. Delivery of all data is expected to be completed by 30 June 2023.
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
- Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank - June 27, 2024
- Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth - June 27, 2024
- CLEO meets with US FDA to develop strategy for ovarian cancer test launch - June 26, 2024
Leave a Comment
You must be logged in to post a comment.