SMARTER proposes the commercialization of a maritime sensor product based on Laser Detection and Ranging (LADAR) technology. The objective of SMARTER Phase I was to perform a feasibility study - market and commercial studies and on-going operational testing to gain further insight into the qualities and value of the Ladar system, needed for the execution of the project’s commercialization plan (Phase II).
The project involved the completion of 4 tasks, combined in a feasibility study: disruptive business plan, intellectual property management, assessment of bottleneck opportunities and innovation development.
The business plan writing process involved research, decision making and coordination for all aspects of Ladar Ltd’s business. We started by performing market research to find our overall market size (€8.2 billion) and the segmentation of the market according to the system’s applications. In each segment we assessed the market size and sales potential of the Ladar system. The applications in the maritime security and maritime safety segments - Perimeter control, Anti-collision - with market sizes of ~€500k are the most appealing. We analysed the direct, indirect competition and performed a cost benefit analysis to determine which competitors could possibly threaten the business. A detailed SWOT analysis was also completed. The sales potential analysis and financial projections show the expected costs and revenues (€400m in 4 years).
The IPR management task has proved that Ladar Ltd. has a strong IPR background with three solid worldwide patents. The implementation of the updated IPR strategy by our multidisciplinary IP team will ensure a competitive advantage through protection from competing technologies.
In our evaluation of the bottleneck opportunities for Ladar Ltd we have identified risk factors and possible bottlenecks. We provided methods of deterring these so that they don’t actually present a risk, but an opportunity for a strategic advantage over future competitors.
In the innovation development task we defined our development activities and identified the fastest and most cost effective route to market. The roadmap for this has been set up along with identifying possible partners and subcontractors.
Based on our extensive feasibility analysis we have concluded that the Ladar technology and business model is in a great position to make a strong market entry and soon be able to sustainably provide its services to the worldwide maritime community.
