Kraken Robotics’ subsidiary has recently received a sonar signal processing software contract valued at approximately $1 million dollars from an international defense contractor.
This 12-month contract is with a new customer and will be supported by Kraken’s recently established Acoustic Signal Processing Group.
Kraken said it is targeting additional international opportunities in this segment and sees major opportunities within the upcoming Canadian Underwater Warfare Suite Upgrade, the Canadian Surface Combatant program and other international underwater surveillance programs.
Karl Kenny, Kraken’s president and CEO said, “There is a significant and growing demand for strengthening ASW capabilities operated on surface warships, aircraft, submarines and unmanned systems. Such technologies are used to track, locate and neutralize hostile submarine threats. Naval forces around the world are focusing on development of ASW technology because of the regional proliferation of submarines. In fact, the market analyst firm Forecast International estimates the market for ASW systems to be over US$30 billion from 2018-2032.”