Krystle Chow’s Online Portfolio

By KRYSTLE CHOW
Published in the Ottawa Business Journal newspaper and website.
Nov. 5, 2007 (Nov. 7 on OttawaBusinessJournal.com)

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Ken Kirkpatrick is bullish on his company’s future as a supplier of electronic navigation systems. Analysts tend to be in accord, though they warn there are some hurdles to overcome.
Photo by DARREN BROWN for the Ottawa Business Journal

Software firm’s move to Ottawa brings it closer to big players and customers

With its situational awareness products already in use by navies around the world, analysts say OSI Geospatial Inc. is clearly the market leader in its space.

Chief executive Ken Kirkpatrick says OSI’s main product, the proprietary Electronic Chart Precise Integrated Navigation System (ECPINS), already has 60 per cent of a $100-million market, which is growing at 10 per cent annually. And that’s with 80 per cent of the world’s navies yet to convert from paper-based to electronic charting.

“Five years ago, we identified the warship navigation sector as the sector to go after and become market leader in, and we controlled the intellectual property to support our leadership position … we’ve been very successful in the naval navigation market and are the hands-down leader in that space,” says Mr. Kirkpatrick.

“A lot of what we do is in emerging markets, we’re changing how people do their job since the majority of warships navigate from paper charts and (are only beginning to) move to very sophisticated electronic systems. The good news is that the rest of the world has accepted the technology and the benefits it presents, so it’s a matter of when, not if.”

The company’s ECPINS product is an all-in-one navigation system which integrates various sensors on the bridge of a ship, including (more…)