- Major £40m contract award to be delivered over two-year period
- Three other contracts worth £31m likely to be signed before 31 March 2022
- Potential for three contracts worth £54m set to be secured in coming months
Aim-traded SRT Marine Systems (SRT:47p), a global leader in AIS, an advanced identification communications technology used to track and monitor maritime vessels, has been awarded the first of four systems projects in its near-term validated sales pipeline (all in South East Asia and Middle East), which combined are worth £71m over a two-year delivery period.
The contract from a national coastguard is worth £40m over two years for the installation of a national scale marine domain awareness (MDA) system that will track, monitor and manage all maritime activity in their territorial waters in real time from multiple command centres across the country. The system incorporates a range of sophisticated functionalities such as vessel information and identification, and AI analytics that automatically detect, alert and categorise suspicious and illegal activities.