Yahoo Finance CGI (GIB) to Develop Cloud-Powered Flight Data Recorder
CGI Inc GIB has got a contract from European Space Agency (ESA) to develop a “Service Demonstrator” for a virtual flight data recorder by coordinating with a consortium of developers. The contract pertains to ESA’s Space Systems for Safety and Security (4S) programme.
The Universal Virtual Flight Data Recorder (UVFDR) will be designed for use on aircraft that are capable of relaying operational data and engineering telemetry to the ground, added CGI. UVFDR so developed will be capable of imitating the function of a traditional crash-protected flight data recorder or better known as Black Box in a cloud-based environment.
This new system will allow secure, authenticated and “provenance-controlled” storage of data relayed by an aircraft while in flight. This will make it easier for authorities to gain access to data almost immediately in case of emergency or accidents. The data relayed by aircrafts would be immensely beneficial in improving aviation safety.
CGI Group, Inc. Price and Consensus
CGI Group, Inc. price-consensus-chart | CGI Group, Inc. Quote
UVFDR will be designed to meet Global Aeronautic Distress and Safety System aircraft tracking and flight data recovery requirements. CGI will be building the solution on its TrustedFabric system. TrustedFabric is a blockchain solution for safe data storage and is deployed on the cloud environment. UVFDR will be designed as a scalable system and will be made available for future commercial services worldwide going ahead.
The new UVFDR technology will also be able to support additional services including flight recording solutions for remotely piloted and advanced air mobility vehicles as well as airspace data integration services for air navigation service providers, noted CGI.
The consortium that CGI will be working with to develop a global UVFDR system includes ESA, Code Magus Ltd, Amazon Web Services, Cranfield University and industry stakeholders SatAuth among others.
CGI is a provider of the full range of IT services including consulting, systems integration and the management of business and IT functions. The company's primary focus is large scale systems integration and outsourcing contracts.
CGI is gaining from a robust demand for its business solutions, as reflected from its expanding partnerships and increasing IP solutions revenues across geographies. In the last reported quarter, GIB’s revenues of $2.75 billion beat the Zacks Consensus Estimate by 3.77%. At constant currency, the top line increased by 11.4%.
At present, GIB carries a Zacks Rank #3 (Hold).
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