LAS
VEGAS, Nov. 30, 2023 /PRNewswire/ -- Remark
Holdings, Inc. (Nasdaq: MARK), a diversified global technology
company with leading artificial intelligence ("AI") powered
computer vision solutions, today announced the release of version
1.0 of its Airline Engine Safety Inspection System (AESIS).
Remark's AESIS is intended for use by airlines, airline maintenance
teams, engine manufacturers, airplane manufacturers, aircraft
leasing companies, insurance companies, regulators, etc.
Aircraft engines require complex and continuous engineering and
maintenance. All components must be manufactured, maintained, and
regularly inspected according to rigorous specification. Any
deviations or defects from these specifications can lead to
performance, efficiency, and most importantly, safety
issues.
Remark's AESIS 1.0 detects in real-time critical defects or
damage in all types of aircraft engine turbine blades that have the
potential for ablation, cracks, or other forms of damage. It gives
warning prompts in real time to the engineers when it detects
damages or defects, along with the size and depth of the damage or
defects with suggested severity level for engineers to make a
further determination on whether the engine is suitable for the
next flight or needs to be sent to shop for repair. AESIS 1.0 can
reduce the engine turbine blades inspection time from an average of
40 hours down to 2 hours, representing a 2000% improvement; it also
lower the damage mis-detection rate from an average of 5% to less
than 1%, representing a 500% improvement. Some of the damage, such
as ablation, is common due to wear and tear, but when unattended,
ablation damage gets to a certain severity that not only affects
the engine safety but also increases maintenance cost, as a new
blade can cost five times more than a fixable blade. Remark's AESIS
1.0 supports the inspection of both assembled and disassembled
engines from the most popular airplane models.
Based on a recent release by the Aviation Week, major U.S.
airlines each spent approximately $2.0
billions on maintenance costs in 2022, a figure that has
increased on average 20% year over year. AESIS 1.0 can provide a
practical solution to cut significant cost and time for airliners,
who can repurpose their resources to provide more valuable services
to their customers.
Remark intends to demonstrate its Aircraft Engine Inspection
System at the MRO (i.e. Maintenance, Repair, and Overhaul) Americas
Aviation Week at the McCormick Center in Chicago and the Farnborough International
Airshow in Farnborough, UK in 2024. The Americas Aviation Week and
the Farnborough International Airshow are annual preeminent
airshows with exhibitors and purchases from the aerospace,
aviation, and defense industries. Past conferences have been
attended by aerospace giants such as Boeing, Airbus, AirLease, GE
Aviation, Pratt & Whitney, Rolls-Royce, and others.
Representatives from the top twenty airlines in the world including
American Airlines, British Airways, Delta Airlines, Japan Airlines,
Qatar Airways, and United Airlines, as well as major defense
contractors, generally attend these airshows.
About Remark Holdings, Inc.
Remark Holdings, Inc. (Nasdaq: MARK) is the AI-powered analytics
platform that brings valuable insights to the video feeds provided
by current cameras and computer vision solutions through its
integrated suite of AI tools that help organizations understand
their customer behavior and demographics while providing real-time
alerts to predetermined inspection and security parameters.
Remark's international team of sector-experienced professionals has
created award-winning GDPR-compliant and CCPA-compliant video
analytics solutions that service the government agencies,
hospitality, public safety, retail, and transportation sectors. The
company's headquarters are in Las Vegas,
Nevada, USA, with operational offices in New York and international offices in
London, England. For more
information, please visit our home page at
www.remarkholdings.com
Forward-Looking Statements
This press release may contain forward-looking statements,
including information relating to future events, future financial
performance, strategies, expectations, competitive environment, and
regulations. Words such as "may," "should," "could," "would,"
"predicts," "potential," "continue," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," and similar
expressions, as well as statements in the future tense, identify
forward-looking statements. These statements involve known and
unknown risks, uncertainties, and other factors, including those
discussed in Part I, Item 1A. Risk Factors in Remark Holdings'
Annual Report on Form 10-K and Remark Holdings' other filings with
the SEC. Any forward-looking statements reflect Remark Holdings'
current views concerning future events, are based on assumptions,
and are subject to risks and uncertainties. Given such
uncertainties, you should not rely on any forward-looking
statements, which represent Remark Holdings' estimates and
assumptions only as of the date hereof. Except as required by law,
Remark Holdings undertakes no obligation to update or revise
publicly any forward-looking statements after the date hereof,
whether as a result of new information, future events, or
otherwise.
Company Contact
Fay Tian
Vice President of Investor Relations
F.Tian@remarkholdings.com
(+1) 626-623-2000
(+65) 8715-8007
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SOURCE Remark Holdings, Inc.