 |
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| Company type | Private |
|---|---|
| Industry | Public transport and defense |
| Founded | 1949 |
| Founder | Walter J. Zable |
| Headquarters | San Diego, California, U.S. |
Key people | Stevan Slijepcevic (president, CEO) |
| Owner | |
Number of employees | 6,200 (2020) [1] |
| Divisions |
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| Website | www |
Cubic Corporation is an American multinational defense and public transportation equipment manufacturer. It operates two business segments: Cubic Transportation Systems (CTS) and Cubic Mission and Performance Solutions (CMPS). [2]
Cubic Corporation was founded in 1949 by Walter J. Zable as an electronics company in San Diego, California, and began operations in 1951. [3] Zable devised the company name as he wanted the name to reflect both engineering and precision. Its first product was a calorimetric wattmeter, a device used for measuring microwave output. It became a publicly-traded company in 1959. [4]
In 1969, the company acquired United States Elevator Corporation, a maker of freight and passenger elevators. [5]
In early September 1984, Cubic moved its corporate domicile into Delaware General Corporation Law. The move was completed on June 11, 1985.
Cubic employs 6,200 people globally. Stevan Slijepcevic was named president and chief executive officer of Cubic Corporation in January 2022. [6]
In May 2021, Cubic announced the completion of its sale to the private equity firms Veritas Capital and Elliott Management, turning the publicly traded New York Stock Exchange company into a privately held company. [7] [8]
In June 2023 Cubic wrote a letter to the Australian Victorian state premier, requesting a review of the tender process which awarded the state upgrade of its Myki system to its competitor Conduent. In its letter Cubic claimed its submitted bid was $100,000 less than the winning a bid (a 0.005% difference in the overall $1.7 billion cost of the winning bid over 15 years), and that procurement officers from the state government had not visited its operational sites. Cubic preferences to install its own ticket readers was reported as a reason to consider its bid more expensive. [9]
Cubic's operating segments include: [10]
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Cubic Transportation Systems provides the following products and services: [18]
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Cubic Transportation Systems has delivered over 400 projects in 40 markets on five continents. [28] [29] Cubic first implemented mobile ticketing technology in 2006 and produces multiple mobile fare collection options, including mobile ticketing through barcoding, NFC tools, contact and contactless smartcard payments, and traditional automated fare collection systems. The Umo Mobility Platform was launched in January 2021. [30] Cubic Transportation Systems manages around 70% of the global market for smart transit cards. [31] Cubic processes more than 24 billion transactions a year. [32]
In 2017, Cubic was chosen to implement the AFC 2.0 project by the Massachusetts Bay Transportation Authority (MBTA) to update the MBTA's fare collection systems. This project was budgeted for $723 million, with a planned completion date of May 2021. As of May 2021, the cost of the project (now called "Fare Transformation") had risen to $935 million, with an updated completion date of 2024. [33] [34] [35] In February 2023, the MBTA announced that it considered the project "unlikely to meet the current 2024 timeline for full implementation". [36]
On October 21, 2022, it was announced that NZ Transport Agency Waka Kotahi had signed a contract with Cubic for the development of their National Ticketing Solution named Motu Move. The National Ticketing Solution will allow the use of a single fare card on public transport across the whole of New Zealand. [37]
The Massachusetts Bay Transportation Authority is the public agency responsible for operating most public transportation services in Greater Boston, Massachusetts. The MBTA transit network includes the MBTA subway with three metro lines, two light rail lines, and a five-line bus rapid transit system ; MBTA bus local and express service; the twelve-line MBTA Commuter Rail system, and several ferry routes. In 2023, the system had a ridership of 239,981,700, or about 796,300 per weekday as of the second quarter of 2024, of which the rapid transit lines averaged 265,900 and the light rail lines 95,900, making it the fourth-busiest rapid transit system and the third-busiest light rail system in the United States. As of the second quarter of 2024, average weekday ridership of the commuter rail system was 107,500, making it the fifth-busiest commuter rail system in the U.S.
The EZ-Link card is a rechargeable contactless smart card and electronic money system that is primarily used as a payment method for public transport such as bus and rail lines in Singapore. A standard EZ-Link card is a credit-card-sized stored-value contact-less smart-card that comes in a variety of colours, as well as limited edition designs. It is sold by SimplyGo Pte Ltd, a merged entity of TransitLink and EZ-Link since 2024, a subsidiary of the Land Transport Authority (LTA), and can be used on travel modes across Singapore, including the Mass Rapid Transit (MRT), the Light Rail Transit (LRT), public buses which are operated by SBS Transit, SMRT Buses, Tower Transit Singapore and Go-Ahead Singapore, as well as the Sentosa Express.
The Clipper card is a reloadable contactless smart card used for automated fare collection in the San Francisco Bay Area. First introduced as TransLink in 2002 by the Metropolitan Transportation Commission (MTC) as a pilot program, it was rebranded in its current form on June 16, 2010. Like other transit smart cards such as the Oyster card, the Clipper card is a credit card-sized stored-value card capable of holding both cash value and transit passes for the participating transit agencies. In addition to the traditional plastic card, Clipper is available as a virtual card in Google Wallet and Apple Wallet. Clipper is accepted by nearly all public transit services in the Bay Area, including but not limited to Muni, BART, Caltrain, AC Transit, SamTrans, Golden Gate Transit, Golden Gate Ferry, San Francisco Bay Ferry, and VTA.
The CharlieCard is a contactless smart card used for fare payment for transportation in the Boston area. It is the primary payment method for the Massachusetts Bay Transportation Authority (MBTA) and several regional public transport systems in the U.S. state of Massachusetts. It is used on the MBTA's subway and bus services, but is not currently accepted on the MBTA Commuter Rail and ferries.
Rail operators are government-assisted profit-based corporations, fares and ticketing on Singapore's Mass Rapid Transit (MRT) system are aimed to break-even or exceed operating expenses. Rail operators collect fares based on account-based (ABT) and card-based ticketing options, the prices of which are calculated based on the distances travelled between the origin and destination. These prices increase in stages for standard non-concessionary travel, according to the distances travelled. In account-based ticketing, the fare is automatically calculated in the back-end and charged to the passenger post journey. On the other hand, card-based ticketing is proprietary to the transport network and the fare is computed by the system based on the store values recorded in the cards. The public transit system is harmonising towards full ABT.
Mobile ticketing is the process whereby customers order, pay for, obtain, and validate tickets using mobile phones. A mobile ticket contains a verification unique to the holder's phone. Mobile tickets reduce the production and distribution costs associated with paper-based ticketing for operators by transferring the burden to the customer, who is required to contribute the cost of the physical device (smartphone) and internet access to the process. As a result of these prerequisites, and in contrast to paper-based systems, mobile ticketing does not follow the principles of universal design.
Vix Technology (Vix) is an Australian company that designs, supplies and operates automated fare collection (AFC) systems, intelligent transportation systems (ITS), access, payment and passenger information display systems (PIDS) for the public transit industry.
The Transit Access Pass (TAP) is a contactless smart card used for automated fare collection on most public transport agencies within Los Angeles County, California. The card is also available in electronic form, free of charge, in Apple Wallet, thereby bypassing the need to purchase the plastic USD $2 card. It is administered by the Los Angeles County Metropolitan Transportation Authority (Metro), and the card and fare collection systems are manufactured by Cubic Transportation Systems.
The Easy Card is a contactless smartcard system for public transit fares in the Miami metropolitan area. The Easy Card is valid on Metrobus and Metrorail services in Miami-Dade County, and on Tri-Rail services throughout the region. Easy Card payments were introduced in 2009 on Miami-Dade Transit services, and expanded to Tri-Rail in 2011. The card functions as a stored-value card, and can also be loaded with unlimited-ride passes. Reduced-fare and zero-fare versions of the Easy Card are available for eligible customers, including seniors and individuals with disabilities.
Opal is a contactless smartcard fare collection system for public transport services in the greater Sydney area. Operation of the Opal system is managed by Transport for NSW. First launched in late 2012, Opal is valid on Transport for NSW's metro, train, bus, ferry and light rail services that operate in Sydney and the neighbouring Central Coast, Hunter Region, Blue Mountains, Illawarra and Southern Highlands areas. Opal equipment was designed from the start to support a variety of cards, but launched with the captive Opal cards.
CIPURSE is an open security standard for transit fare collection systems. It makes use of smart card technologies and additional security measures.
An automated fare collection (AFC) system is the collection of components that automate the ticketing system of a public transportation network – an automated version of manual fare collection. An AFC system is usually the basis for integrated ticketing.
Ventra is an electronic fare payment system for Regional Transportation Authority (Illinois) which replaced the Chicago Card and the Transit Card automated fare collection systems. Ventra launched in August 2013, with a full system transition occurring in July 2014. The payment system includes several options for payment, including a contactless smart card powered by RFID, a single day or use ticket powered by RFID, any personal bank-issued credit card or debit card that has an RFID chip, or a compatible mobile phone. Ventra is operated by Cubic Transportation Systems. A smartphone app allows users to manage fares, buy passes, and also buy mobile tickets for Metra.
Beep is a reloadable contactless smart card created in 2015 to be a replacement for the magnetic card-based system in paying rail-based rapid transit transportation fares in and around Metro Manila. Beep is also used in lieu of cash in some convenience stores and other businesses. The Beep system is implemented and operated by AF Payments Incorporated, which is primarily owned by Ayala Corporation and Metro Pacific Investments Corporation.
Mobility as a service (MaaS) is a type of service that enables users to plan, book, and pay for multiple types of mobility services through a combined platform. Transportation services from public and private transportation providers are combined through a unified gateway, usually via an app or website, that creates and manages the trip and payments, including subscriptions, with a single account. The key concept behind MaaS is to offer travelers flexible mobility solutions based on their travel needs, thus "mobility as a service" also refers to the broader concept of a shift away from personally-owned modes of transportation and towards mobility provided as a service.
National Common Mobility Card (NCMC) is an open-loop, inter-operable transport card conceived by the Ministry of Housing and Urban Affairs under Prime Minister Narendra Modi's ‘One Nation, One Card' vision. It was launched on 4 March 2019. The transport card enables the user to pay for travel, toll tax, retail shopping and withdraw money.
Ticketer is the brand name for a range of electronic ticket machines provided by British company Corvia Ltd, primarily for usage on buses. The cloud-based system, first marketed on a small scale in 2008, has since developed into a rival to the three major ticket issuing systems used by bus companies throughout Britain.
OMNY is a contactless fare payment system, currently being implemented for use on public transit in the New York metropolitan area. OMNY can currently be used to pay fares at all New York City Subway and Staten Island Railway stations, on all MTA buses, AirTrain JFK, Metro North's Hudson Rail Link, and on the Roosevelt Island Tram; when completely rolled out, it will also replace the MetroCard on Bee-Line buses, and NICE buses. OMNY will also expand beyond the current scope of the MetroCard to include the Long Island Rail Road and Metro-North Railroad.
Motu Move is a contactless fare payment system in development as the National Ticketing Solution (NTS) for New Zealand. Contracted to the American company Cubic Transportation Systems, it is expected to be piloted on Route 29 in Christchurch with adult non-concession fares in December 2024 before beginning initial rollout in Timaru and Temuka in early 2025 with the full range of payment options and concessions. By 2026, Motu Move will be available nationwide excluding the Marlborough region. The aim is to achieve a nationally consistent payment system, with a choice of payment by contactless bank cards, mobile payment methods, pre-bought tickets or a prepaid Motu Move card valid for the whole country.
Fare capping is a feature of public transport fare collection systems. In its most common form, fare capping credits the cost of individual transport fares towards the cost of an unlimited pass.
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