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CAE Inc.

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CAE Inc.
Company typePublic
IndustryAerospace
Founded1947; 77 years ago (1947) in Saint-Hubert, Quebec, Canada
HeadquartersMontreal, Quebec, Canada
Key people
Marc Parent (CEO)
ProductsDefence & Security training solutions, Aviation Simulation Equipment, Aviation Training, Aviation Services, Aviation Software
RevenueIncrease US$4.2 billion (2023)
Increase US$474 million (2023)
Increase US$232 million (2023)
Total assetsIncrease US$10.4 billion (2023)
Total equityIncrease US$4.6 billion (2023)
Number of employees
13,000 (2023)[1]
DivisionsCivil Aviation Training Solutions, Defence & Security, Aviation Software
Websitewww.cae.com
Footnotes / references
Financials as of 31 March 2023[2]

CAE Inc. (formerly Canadian Aviation Electronics) is a Canadian manufacturer of simulation technologies, modelling technologies and training services to airlines, aircraft manufacturers, healthcare specialists, and defence customers. CAE was founded in 1947, and has manufacturing operations and training facilities in 35 countries.

Flight simulators

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CAE sells flight simulators and training devices to airlines, aircraft manufacturers and training centres. It licenses its simulation software to various market segments and has a professional services division.

The simulators include basic training devices CAE 400XR and CAE 500XR, and full-motion products such as the CAE 3000, CAE 5000 and CAE 7000XR. These simulators are available for commercial use. In 2016, the company sold 53 Full-Flight Simulators.[3]

In 2001, CAE Inc. acquired BAE Systems's Flight Simulation and Training division, formerly known as Reflectone Inc,[4] a publicly listed company founded in 1939, and based in Tampa, Florida. Reflectone sold flight simulators to the military and provided pilot training on its premises.[5]

In 2021, CAE announced the purchase of the Military Training businesses of L3Harris Technologies; the purchase includes Link Simulation & Training which traces its corporate history to the original flight simulators designed and built by Ed Link.[6]

Pilot training

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CAE conducts airline pilot training and business jet pilot training in its 50 aviation training centres worldwide.[7]

In the United States, the firm is a supplier of initial and recurrency training for airlines such as JetBlue[8] and non-airline based companies, including charter and cargo operators. In December 2001, the firm acquired Simuflite training centers in Dallas, Texas, and Morristown, New Jersey, which are now called CAE SimuFlite.[9] The facility at Dallas/Fort Worth International Airport is the largest business aviation training facility in the world at 426,000 sq ft (39,600 m2), with 34 simulators and approximately 450 employees.[10][citation needed]

In February 2016, CAE Inc. acquired one of its competitors, Lockheed Martin Commercial Flight Training, formerly known as Sim-Industries.[11][12][13]

CAE also operates the CAE Oxford Aviation Academy, the largest ab initio flight training network in the world, with a fleet of over 220 aircraft and seven campuses worldwide,[14] CAE Global Academy Phoenix, and Sabena Flight Academy in Belgium.

As of February 2020, CAE also works together with Airways Aviation Academy, formerly known as ESMA in Montpellier, South of France, for training students from Oxford and Brussels.

Healthcare

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In 2011, CAE purchased Medical Education Technologies Inc. (METI), a Sarasota-based company known for its patient simulator, the HPS.[15] In October 2023, CAE announced the sale of its Healthcare business to Chicago-based Madison Industries for an enterprise value of C$311 million, subject to customary adjustments.[16]

Corporate governance

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The CEO, Marc Parent, was named in this role in October 2009. He has more than 25 years of experience in the aerospace industry. Born in Montreal, Parent is a graduate of Mechanical Engineering from Montreal's École Polytechnique and attended Harvard Business School's six-week Advanced Management Program.[17]

In October 2008, CAE was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc., and was featured in Maclean's newsmagazine.[18]

Publications

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In September 2021, with the UK P&I Club and Witherbys, CAE launched a safety publication entitled Maritime Team Dynamics, a safety book comparing aviation and maritime incidents.[19][20]

References

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  1. ^ "CAE People and Safety". Retrieved 2023-01-17.
  2. ^ "2023 Consolidated Financial Statements". U.S. Securities and Exchange Commission. 22 June 2023.
  3. ^ "Flight-simulator builder CAE soars as it hits record revenues, profits | Toronto Star". thestar.com. 19 May 2016. Retrieved 2017-01-06.
  4. ^ "BAE sells former Reflectone to Canada's CAE". Flight Global. Reed Business Information. 20 February 2001. Retrieved 23 November 2013.
  5. ^ Hagstrom, Suzy (15 September 1986). "Erratic Stock". Orlando Sentinel. Retrieved 23 November 2013.
  6. ^ "CAE".
  7. ^ CAE. "CAE - Civil Aviation Training". www.cae.com. Archived from the original on 2017-01-05. Retrieved 2017-01-06.
  8. ^ Close, Kerry (March 7, 2016). "JetBlue Wants to Train You to Become a Pilot". Money.com. Archived from the original on August 5, 2020. Retrieved 2017-01-06.
  9. ^ "CAE Concludes Acquisition of Leading Business Jet Training Company, Simuflite Training International Inc". www.defense-aerospace.com. Archived from the original on 2017-01-07. Retrieved 2017-01-06.
  10. ^ "New training centers meet soaring pilot demand | Aviation Week Network". aviationweek.com. Retrieved 2020-02-20.
  11. ^ "CAE strikes deal for Lockheed Martin flight training unit". Retrieved 2020-02-04.
  12. ^ "CAE". www.cae.com. Retrieved 2020-02-04.
  13. ^ "CAE To Acquire Lockheed Martin Commercial Flight Training Business - Defense Daily". www.defensedaily.com. 22 February 2016. Retrieved 2020-02-04.
  14. ^ "Pilot Training Programs - CAE Oxford Aviation Academy". www.caeoaa.com. Archived from the original on 2016-12-28. Retrieved 2017-01-06.
  15. ^ "CAE Healthcare acquires METI and becomes a leader in simulation-based technology for healthcare". Yahoo Finance Canada. Archived from the original on 2017-01-07. Retrieved 2017-01-06.
  16. ^ "CAE". www.cae.com. Retrieved 2023-10-26.
  17. ^ "Canadian Club › Marc Parent". www.cerclecanadien-montreal.ca. Archived from the original on 2017-01-07. Retrieved 2017-01-06.
  18. ^ "Reasons for Selection, 2009 Canada's Top 100 Employers Competition".
  19. ^ "UK P&I Club launches safety book in conjunction with CAE". Hellenic Shipping News. Retrieved 26 September 2021.
  20. ^ "New Book Compares Aviation and Maritime Safety and How to Avoid Incidents". Handy Shipping Guide. Retrieved 26 September 2021.
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