Singapore Changi Airport Orders Additional LRAD Systems

Rhea-AI Summary

Genasys has announced a new order for its Long Range Acoustic Devices (LRAD) from Singapore Changi Airport, which has used LRAD since 2021 to prevent bird strikes. Bird strikes cause an estimated $1.2 billion in damage annually. With a recent surge in bird strikes at Malaysian airports, the Civil Aviation Authority of Malaysia has recommended the use of modern technologies, including LRAD. Genasys is also pursuing opportunities in other APAC and European airports. LRAD systems, which can be manually operated or integrated with remote command centers, are effective in deterring birds by broadcasting intense, directional sounds and predator calls.

Positive

• New LRAD order from Singapore Changi Airport indicates strong market demand.
• LRAD effectively prevents bird strikes, which cause $1.2 billion in damage annually.
• Genasys pursuing additional opportunities in APAC and Europe, expanding market reach.

Negative

• Surge in bird strikes presents significant operational challenges for airports.

Financial Analyst

Genasys Inc.'s new order from Singapore Changi Airport signifies a positive development for the company’s financial health, potentially boosting revenues in the upcoming quarters. The expanded deployment of LRAD systems in the APAC region reflects increasing demand for advanced wildlife deterrence technologies in aviation. Considering the significant annual financial impact of bird strikes, estimated at $1.2 billion, the market for such technologies is substantial. Investors should note that securing contracts with major airports like Changi enhances Genasys' market positioning and could lead to similar opportunities within the APAC and European markets.

Moreover, the integration of LRAD systems with avian radar represents a strategic move to offer comprehensive solutions, reducing operational disruptions and maintenance costs for airports. This synergy could position Genasys as a important player in aviation safety technology. However, investors should remain aware of potential challenges such as competition and technological advancements from other firms in the sector.

Market Research Analyst

The order from Singapore Changi Airport underscores a growing trend among airports in adopting sophisticated wildlife management systems. This trend is driven by heightened awareness of the economic and safety risks posed by bird strikes and recent advisories from aviation authorities like CAAM. For retail investors, it's important to understand that such regulatory endorsements act as catalysts, accelerating market adoption of Genasys' LRAD systems.

The shift towards humane and effective wildlife deterrence methods not only mitigates risk but also reflects broader sustainability goals in aviation. By catering to these needs, Genasys can tap into a lucrative and expanding market, ensuring steady demand for its products. However, market dynamics should be closely monitored, including potential regulatory changes and technological innovations from competitors, which could impact Genasys' market share.

Surge in Bird Strikes Driving LRAD Interest and Orders from APAC Airports

SAN DIEGO, July 11, 2024 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in Protective Communications, today announced a new LRAD systems order from Singapore Changi Airport (Changi). Changi has used Genasys’ Long Range Acoustic Devices since 2021 to prevent birds from hitting planes and passenger jets during takeoffs and landings when aircraft are most vulnerable to bird strikes.

Aircraft bird strikes cause $1.2 billion in estimated damage annually. The Civil Aviation Authority of Malaysia (CAAM) recently issued a safety alert due to a surge in bird strikes at Malaysia’s airports. CAAM’s chief executive officer urged Malaysian airport operators to explore the use of modern technologies, including radar systems and acoustic devices, to detect and deter birds.

“In addition to LRAD deployments at Changi and other APAC airports, we are working several pipeline opportunities to protect jets, passengers and wildlife in the APAC and European regions,” said David Schnell, VP Global Hardware Sales at Genasys. “Manually operated or integrated with remote command and control centers, LRAD is a humane bioacoustic deterrent that has proven highly effective in preventing aircraft bird strikes near runways.

“When integrated with millimeter band avian radar, LRAD systems automatically detect and deter birds entering runway control zones by broadcasting a wide variety of intense, directional sounds and predator calls to safely steer birds away from aircraft during takeoffs and landings,” continued Mr. Schnell.

Long Range Acoustic Devices are in use around the world preserving wildlife, controlling bird incursions, and cost effectively protecting assets. LRAD systems are easily programmed to broadcast a near infinite variety of tones and predator calls to ensure against habituation and safely deter wildlife up to 3,000 meters away.

About Genasys Inc.

Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications. The Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as the Company’s Long Range Acoustic Devices (LRAD^®), are designed around one premise: ensuring organizations and public safety agencies are “Ready when it matters™.” Protecting people and saving lives for over 40 years, Genasys covers more than 70 million people in over 100 countries worldwide, including more than 500 U.S. cities. For more information, visit genasys.com.

Forward-Looking Statements

Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development as well as our perception of historical trends, current market conditions, current economic data, expected future developments and other factors that we believe are appropriate under the circumstances. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in any forward-looking statement. The risks and uncertainties in these forward-looking statements include without limitation the business impact of geopolitical conflicts, epidemics or pandemics, and other causes that may affect our supply chain, and other risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. Risks and uncertainties are identified and discussed in our filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management’s expectations as of the date hereof. Future results may differ materially from our current expectations. For more information regarding other potential risks and uncertainties, see the “Risk Factors” section of the Company’s Form 10-K for the fiscal year ended September 30, 2023. Genasys Inc. disclaims any intent or obligation to publicly update or revise forward-looking statements, except as otherwise specifically stated.

FAQ

Why has Singapore Changi Airport ordered more LRAD systems?

Singapore Changi Airport has ordered more LRAD systems to enhance bird strike prevention, which has proven effective since their initial deployment in 2021.

What is the impact of bird strikes on the aviation industry?

Bird strikes cause an estimated $1.2 billion in damage annually to aircraft, making prevention systems like LRAD important for airport safety.

How does LRAD help in preventing bird strikes at airports?

LRAD prevents bird strikes by broadcasting intense, directional sounds and predator calls to deter birds from entering runway control zones.

What regions are seeing increased interest in LRAD systems?

There is increased interest in LRAD systems in the APAC and European regions to enhance airport safety and protect wildlife.

What technologies are recommended by the Civil Aviation Authority of Malaysia to prevent bird strikes?

The Civil Aviation Authority of Malaysia recommends modern technologies like radar systems and acoustic devices, including LRAD, to detect and deter birds.