CAE announced today the participation of the Government of Canada in its latest research and development (R&D) program having a repayable investment of $250 million.
The goal of CAE's Project Innovate, which will span five and half years, is to develop and expand CAE's current modeling and simulation technologies, develop new ones and continue to differentiate its service offering.
"CAE is proud to partner with the Government of Canada for its R&D projects. By supporting and nurturing innovation in the aerospace industry through the SADI program, the government helps maintain and grow highly skilled jobs in Canada," said Marc Parent, President and Chief Executive Officer of CAE. "Innovation is in CAE's DNA and it has allowed us to become a leader in our civil aviation and defence markets."
"With the government's support, CAE can continue making substantial research and development investments in order to maintain its leadership position in modelling, simulation and training," said Stephane Lefebvre, CAE's Chief Financial Officer. "CAE plays a key role in helping make air travel safe with our innovative technology and services. Simulation also reduces costs and allows aircrews to be ready for their missions."
Under Project Innovate, CAE will develop its next generation of simulation platforms for its civil aviation and defence markets. It will create a state-of-the-art modular system which will be more efficient and much easier to deploy and maintain. The new system will also enhance CAE's user experience. In addition, CAE will develop technologies and training solutions geared towards joint and networked operations in order to be a training systems integrator in air, sea and land domains.