Revolutionizing India's Skies and Railway: Star Navigation and ProAce-Star Work Jointly with Advanced Technology for India

Rhea-AI Summary

Star Navigation Systems Group and ProAce Business Solutions have updated their August 2024 joint venture announcement, 'PROACE STAR INDIA PRIVATE ,' aimed at transforming India's aviation and railway sectors. The initiative addresses significant challenges in India's growing transportation industry, including a 36% increase in airline passengers since 2022 and plans for expanding from 148 to 230 airports by 2030 with $15 billion in government investment.

The venture will introduce the Star In-Flight Safety Monitoring System (STAR-ISMS®), featuring AI-enhanced real-time monitoring capabilities. The project aligns with India's 'Make in India' vision, promoting local innovation and manufacturing, backed by over $85 million in research and development investment.

Positive

• Expansion into India's growing aviation market with 36% passenger growth since 2022
• Strategic alignment with government's $15 billion airport infrastructure investment
• Backed by $85 million in R&D investment
• Partnership addresses major market opportunity with India's two largest carriers ordering 1000 new aircraft

Negative

• None.

Brampton, Ontario--(Newsfile Corp. - December 10, 2024) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") is pleased to update the August 2024 announcement by Star Navigation Systems Group Ltd. ("Star") and ProAce Business Solutions Inc. ("ProAce") in which they announced the creation of a joint-venture project under the name "PROACE STAR INDIA PRIVATE LIMITED." ("ProAce-Star"). This joint venture is aimed at transforming the aviation and railway sectors in India with advanced technology. The initiative focuses on enhanced safety and operational efficiency and aligns with India's "Make in India" vision, which will promote innovation and local manufacturing. This collaboration is set to redefine the aviation and railway industries by integrating modernization of technology to enhance safety and efficiency.

Addressing India's Growing Aviation and Railway Challenges

India's rapidly expanding aviation and railway industry faces unique challenges going forward, including increasing passenger volumes (Indian airlines have experienced a 36% increase in passengers since 2022), expanding airline fleets (the TATA Group and IndiGo, India's two largest air carriers have ordered 1000 new aircraft from both Boeing and Airbus since 2023) and increasingly complex airspace management (India projects that it will have at least 230 airports by 2030, up from 148 now with another $15 billion in investment from the Indian government). The railway sector also has its share of problems to solve including safety issues such as fog and visibility which cause safety concerns at railway crossing and vehicle collision. Network Congestion and Safety System Limitations are a leading cause of train accidents together with mechanical failures and the need for equipment upgrades. Common mechanical failures include faulty communication equipment, damaged railroad tracks, and signal malfunctions.

Advanced, scalable technology solutions are essential to meet these changing demands. ProAce-Star aims to bridge this gap by introducing tailored solutions that enhance safety and cost efficiency in the sector.

"India's aviation and railway sector is at a pivotal point, and the market is ready to embrace innovative solutions that address these challenges," said Suresh Sharma, President of ProAce Business Solutions Inc. With over $85 million invested in research, development, and patent-pending technology, we are committed to making India a global leader in the aviation and railway sectors.

The joint venture will introduce the Star In-Flight Safety Monitoring System ("STAR-ISMS®"), featuring pioneering real-time monitoring capabilities enhanced by Artificial Intelligence targeted at addressing the specific needs of Indian aviation and railway travel. This initiative supports the 'Make in India' mandate, promoting local innovation and manufacturing.

Advancing the "Make in India" Mandate with a Call for Collaboration

Aligned with India's vision of fostering local innovation and manufacturing, ProAce-Star will support technological growth in the aviation and railway sector. The joint venture is poised to not only meet India's domestic travel challenges but also position the country as a hub for advanced aviation and railway technologies on the global stage.

"ProAce-Star is committed to making Indian skies safer and more efficient. We invite industry leaders, government agencies, and airlines to partner with us in this mission," the company added in a statement. With this dynamic partnership, India stands on the brink of a new era in aviation safety and railway upgrades, driven by technology, strategic collaboration, and a commitment to innovation.

About Star Navigation Systems - www.star-navigation.com

Star Navigation Systems Group Ltd. manufactures the In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. The STAR-A.D.S.® System has real-time capability of tracking, performance trends and predicting incident-occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator. Star's MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.

About ProAce Business Solutions Inc - https://proacebusinesssolutions.com/

ProAce Business Solutions Inc is a strategic consulting and process optimization to cutting-edge technology integration and workforce development, we partner with our clients to drive growth, enhance efficiency, and unlock new successful opportunities in the Asian markets.

Forward Looking Information

Certain statements in this news release may constitute "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that Star expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements.

Forward-looking statements reflect the current expectations and beliefs of Star's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Star or the industry may be materially different from those implied by such forward-looking statements.

Examples of such forward-looking information that may be contained in this news release include statements regarding; growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; and our future revenues.

Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.

The risks posed by the COVID-19 pandemic to the airline industry are real and substantial but cannot be defined or measured in any meaningful way at this time.

Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Accordingly, readers should exercise caution in relying upon forward-looking statements and Star undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.

NEITHER CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Please visit www.star-navigation.com or contact
Randy Koroll, Chief Executive Officer at 1-416-252-2889 x228
randy.koroll@star-navigation.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233162

FAQ

What is the joint venture between Star Navigation Systems (SNAVF) and ProAce Business Solutions called?

The joint venture is called PROACE STAR INDIA PRIVATE (ProAce-Star), announced in August 2024.

How much passenger growth has India's aviation sector experienced since 2022?

Indian airlines have experienced a 36% increase in passengers since 2022.

What is the projected number of airports in India by 2030?

India projects to have at least 230 airports by 2030, up from 148 currently, with $15 billion in government investment.

How much has been invested in research and development for the ProAce-Star venture?

Over $85 million has been invested in research, development, and patent-pending technology.