Waterloo, ON – 15 October 2020 – Maerospace Corporation, a global supplier of real-time maritime intelligence via industry leading radar systems and innovative data analytics, is pleased to be ranked 74 on the Canadian Business Growth List, an annual report on Canada’s Fastest-Growing Companies. Celebrating its 32nd anniversary in 2020, the Growth List ranks Canada’s top private and public companies. The winners are the most ambitious, innovative and successful businesses in Canada. Eligibility requires a verifiable five years revenue growth and Maerospace was pleased to confirm FY 2020 operating revenue (not including government grants) representing 1,321% growth over 2015 revenues.
Maerospace provides accurate real-time, maritime intelligence and awareness to governments and maritime companies. Our solutions deliver Persistent Active Surveillance of the maritime Exclusive Economic Zone (PASE™) to help combat illegal fishing, piracy, smuggling, and border threats. Through our predictive analytics products, Maerospace produces the world’s most accurate position reports for all ships, supplying up to thirty times the accuracy of other sources.
“The companies on the 2020 Growth List are really exceptional. Their stories are a masterclass in how to survive when the economy throws a curve ball. Despite turbulence, the 2020 Growth List companies showed resilience, spirit and, most importantly empathy and strong leadership,” says Susan Grimbly, Growth List Editor. “As we celebrate over 30 years of the Canada’s Fastest-Growing Companies program, it’s encouraging to see that the heart of Canada’s entrepreneurial community beats strong, even in tough times.”
Originally founded to fix inherent flaws in raw satellite AIS ship tracking data, Maerospace’s goal has always been to help governments and companies to save lives, guard the borders, protect the environment and enhance trade. In 2017 the company obtained a multi-year contract as the primary supplier of satellite-AIS ship tracking data to the Canadian Government. The company expanded from pure analytics and data to turnkey systems sales with the successful licensing of High Frequency Surface Wave Radar (HFSWR) technology. More recently, revenue has grown dramatically through a major engineering contract and massive demand for the PASE™ solution from all corners of the world. Maerospace has established a global network of representatives to monitor and pursue government procurement of radar systems and works closely with the Canadian Trade Commissioner Service.
According to Maerospace CEO, Eric Meger, “Persistence, innovation and alliance building have enabled us to grow Maerospace from start-up to a company that today is positioned make a major difference in maritime security, fishery protection, safety and border protection.” Maerospace’s solutions provide the ability to uniquely identify the vessels corresponding to the tracks produced by our long-range radar even over the horizon. Our analytic systems predict Estimated Time of Arrivals and detect suspicious behavior such as turning off the AIS transponder. The company’s patented Doppelganger tracking technology enables real-time detection of vessel spoofing and follows ships invisible to competing systems. Our radar technologies enable a dramatically improved 200 nautical mile detection of ships as well as far better performance in the face of unwanted signals and noise. Advanced spectrum management enables multi-site operation while resolving RF interference issue that plague less advanced systems, and our unique innovations reduce the amount of coastal land required and enable rapid deployment.”
Results of the annual ranking, with stories profiling the growth leaders is published in a special report in the October issue of Maclean’s magazine and at CanadianBusiness.com. This year’s GROWTH 2020: CEO Summit will take place virtually in October and November, culminating in the GROWTH List 2020 Awards ceremony.
About THE GROWTH LIST
For over 30 years, the Growth List ranking of Canada’s Fastest-Growing Companies (formerly the Growth 500) has been Canada’s most respected and influential ranking of entrepreneurial achievement. Originally developed by PROFIT and now published in a special Growth List print issue of Canadian Business (packaged with the December issue of Maclean’s magazine) and online at GrowthList.ca and CanadianBusiness.com, the Growth List ranks Canadian companies on five-year revenue growth, and the Startup List ranks Canadian new growth companies on two-year revenue growth. For more information on the ranking, visit GrowthList.ca.
About CANADIAN BUSINESS
Founded in 1928, Canadian Business is the longest-serving business publication in the country. It has fueled the success of Canada’s business elite and, through the Growth List ranking, celebrates leadership, innovation, business strategy and management tactics. Learn more at CanadianBusiness.com.