Foresight and Indian Drone Manufacturer Sign MOU for Autonomous Industrial Drones Project
Foresight Autonomous Holdings (NASDAQ: FRSX) has signed a non-binding MOU with a leading Indian drone manufacturer for collaboration under the India-Israel Industrial R&D and Technological Innovation Fund (I4F) program. The project aims to develop autonomous industrial inspection drones with visible-light and thermal sensors.
The global drone inspection and monitoring market is projected to grow from $10.5 billion in 2022 to $21.3 billion by 2027, with a CAGR of 15.1%. According to the Indian manufacturer's projections, revenues from the jointly developed technology could reach up to $32 million by 2031.
The parties have applied for $5 million in funding from I4F. The drones will be designed for GPS-denied environments, utilizing AI-based algorithms for autonomous navigation, obstacle detection, and path planning. They will operate in extreme conditions, serving industries such as oil & gas, power generation, mining, and chemical processing.
Foresight Autonomous Holdings (NASDAQ: FRSX) ha firmato un MOU non vincolante con un importante produttore di droni indiano per collaborare nell'ambito del programma India-Israele per la R&S industriale e l'innovazione tecnologica (I4F). Il progetto mira a sviluppare droni autonomi per ispezioni industriali dotati di sensori a luce visibile e termici.
Il mercato globale dell'ispezione e del monitoraggio dei droni è previsto crescere da 10,5 miliardi di dollari nel 2022 a 21,3 miliardi di dollari entro il 2027, con un CAGR del 15,1%. Secondo le proiezioni del produttore indiano, i ricavi dalla tecnologia sviluppata congiuntamente potrebbero raggiungere fino a 32 milioni di dollari entro il 2031.
Le parti hanno richiesto 5 milioni di dollari di finanziamento da I4F. I droni saranno progettati per ambienti privi di GPS, utilizzando algoritmi basati su IA per la navigazione autonoma, il rilevamento degli ostacoli e la pianificazione dei percorsi. Opereranno in condizioni estreme, servendo settori come petrolio e gas, produzione di energia, estrazione mineraria e lavorazione chimica.
Foresight Autonomous Holdings (NASDAQ: FRSX) ha firmado un MOU no vinculante con un importante fabricante de drones indio para colaborar en el programa India-Israel de I+D industrial e innovación tecnológica (I4F). El proyecto tiene como objetivo desarrollar drones de inspección industrial autónomos con sensores de luz visible y térmicos.
Se proyecta que el mercado global de inspección y monitoreo de drones crezca de 10.5 mil millones de dólares en 2022 a 21.3 mil millones de dólares para 2027, con una tasa de crecimiento anual compuesta (CAGR) del 15.1%. Según las proyecciones del fabricante indio, los ingresos de la tecnología desarrollada conjuntamente podrían alcanzar hasta 32 millones de dólares para 2031.
Las partes han solicitado 5 millones de dólares en financiamiento de I4F. Los drones estarán diseñados para entornos sin GPS, utilizando algoritmos basados en inteligencia artificial para la navegación autónoma, detección de obstáculos y planificación de rutas. Operarán en condiciones extremas, sirviendo a industrias como petróleo y gas, generación de energía, minería y procesamiento químico.
포어사이트 자율 홀딩스 (NASDAQ: FRSX)는 인도-이스라엘 산업 연구 및 기술 혁신 기금(I4F) 프로그램에 따라 협력을 위해 주요 인도 드론 제조업체와 비구속적인 양해각서(MOU)를 체결했습니다. 이 프로젝트는 가시광선 및 열 센서를 갖춘 자율 산업 검사 드론을 개발하는 것을 목표로 합니다.
전 세계 드론 검사 및 모니터링 시장은 2022년 105억 달러에서 2027년까지 213억 달러로 성장할 것으로 예상되며, 연평균 성장률(CAGR)은 15.1%입니다. 인도 제조업체의 예측에 따르면 공동 개발된 기술로부터의 수익은 2031년까지 최대 3200만 달러에 이를 수 있습니다.
양측은 I4F로부터 500만 달러의 자금을 요청했습니다. 드론은 GPS가 없는 환경을 위해 설계되며, 자율 내비게이션, 장애물 탐지 및 경로 계획을 위한 AI 기반 알고리즘을 활용합니다. 이들은 극한의 조건에서 작동하며, 석유 및 가스, 전력 생산, 광업 및 화학 가공과 같은 산업에 서비스를 제공합니다.
Foresight Autonomous Holdings (NASDAQ: FRSX) a signé un protocole d'accord non contraignant avec un important fabricant de drones indien pour collaborer dans le cadre du programme Inde-Israël pour la R&D industrielle et l'innovation technologique (I4F). Le projet vise à développer des drones d'inspection industrielle autonomes équipés de capteurs à lumière visible et thermiques.
Le marché mondial de l'inspection et de la surveillance par drones devrait passer de 10,5 milliards de dollars en 2022 à 21,3 milliards de dollars d'ici 2027, avec un taux de croissance annuel composé (CAGR) de 15,1%. Selon les prévisions du fabricant indien, les revenus issus de la technologie développée conjointement pourraient atteindre jusqu'à 32 millions de dollars d'ici 2031.
Les parties ont demandé 5 millions de dollars de financement auprès de l'I4F. Les drones seront conçus pour des environnements sans GPS, utilisant des algorithmes basés sur l'IA pour la navigation autonome, la détection d'obstacles et la planification de parcours. Ils fonctionneront dans des conditions extrêmes, servant des secteurs tels que le pétrole et le gaz, la production d'énergie, l'exploitation minière et le traitement chimique.
Foresight Autonomous Holdings (NASDAQ: FRSX) hat eine unverbindliche Absichtserklärung (MOU) mit einem führenden indischen Drohnenhersteller zur Zusammenarbeit im Rahmen des Indien-Israelischen Programms für industrielle Forschung und technologische Innovation (I4F) unterzeichnet. Das Projekt zielt darauf ab, autonome industrielle Inspektionsdrohnen mit Sicht- und Wärmesensoren zu entwickeln.
Der globale Markt für Drohneninspektion und -überwachung wird voraussichtlich von 10,5 Milliarden US-Dollar im Jahr 2022 auf 21,3 Milliarden US-Dollar bis 2027 wachsen, mit einer jährlichen Wachstumsrate (CAGR) von 15,1%. Laut den Prognosen des indischen Herstellers könnten die Einnahmen aus der gemeinsam entwickelten Technologie bis 2031 bis zu 32 Millionen US-Dollar erreichen.
Die Parteien haben 5 Millionen US-Dollar an Fördermitteln von I4F beantragt. Die Drohnen werden für GPS-freie Umgebungen konzipiert, wobei KI-gestützte Algorithmen für autonome Navigation, Hinderniserkennung und Routenplanung eingesetzt werden. Sie werden unter extremen Bedingungen arbeiten und Branchen wie Öl und Gas, Energieerzeugung, Bergbau und chemische Verarbeitung bedienen.
- Potential revenue of up to $32 million by 2031 from the joint technology
- Entry into fast-growing drone inspection market ($21.3B by 2027)
- Applied for $5 million in development funding from I4F
- Strategic expansion into Indian market through partnership
- MOU is non-binding, indicating uncertainty in final agreement
- Revenue projections are based on manufacturer estimates, not guaranteed
- Project success depends on securing external funding
Insights
Foresight's new partnership represents a strategic positioning in the rapidly expanding global drone inspection market, which is projected to reach
The commercial potential is significant for a micro-cap company of Foresight's size (
Technologically, the focus on autonomous drones for GPS-denied environments with AI-based navigation addresses specific high-value industrial needs in oil & gas, mining, and critical infrastructure inspection. This application leverages Foresight's core 3D perception systems expertise while expanding their addressable market beyond automotive applications.
The value proposition centers on operational safety improvements, efficiency gains, and cost reduction in hazardous industrial environments—all compelling benefits that could drive adoption if the technology delivers as promised. While execution risks remain substantial, this partnership demonstrates Foresight's strategic diversification into adjacent markets with its perception technology.
The global drone inspection and monitoring market is projected to reach
Ness Ziona, Israel, April 10, 2025 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in three-dimensional (“3D”) perception systems, announced the signing of non-binding memorandum of understanding (the “MOU”) with a prominent Indian drone manufacturer to establish a framework for collaboration as part of the India-Israel Industrial research & development (R&D) and Technological Innovation Fund (“I4F”) program. This project follows Foresight’s signing of a commercial agreement with the same Indian drone manufacturer, as previously reported by the Company on January 14, 2025.
The joint project aims to develop rugged, autonomous industrial inspection drones equipped with visible-light and thermal sensors. According to a February 2023 market report by Markets and Markets, the global drone inspection and monitoring market, encompassing key industries such as oil and gas, mining, critical infrastructure, and manufacturing, was valued at approximately
Designed for reliable operation in GPS-denied environments, these autonomous drones will utilize advanced artificial intelligence-based algorithms for autonomous navigation, obstacle detection, and path planning. This enables them to efficiently navigate complex, cluttered spaces and function in harsh conditions.
Ideal for applications in oil & gas, power generation, mining, chemical processing, and critical infrastructure, the drones can operate in extreme conditions—including high temperatures, dust, smoke, and low visibility. By significantly reducing human exposure to dangerous conditions, accelerating inspection processes, and enabling predictive maintenance, the jointly developed system will help improve operational performance in challenging scenarios, increase efficiency, and lower costs. Unlike existing semi-autonomous solutions, this next-generation platform will feature fully integrated inertial navigation, real-time 3D mapping, and intelligent path planning—ensuring reliable performance in the most challenging environments.
About India-Israel Industrial R&D and Technological Innovation Fund (I4F)
The India-Israel Industrial R&D and Technological Innovation Fund (I4F) is a
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing advanced three-dimensional (3D) perception and cellular-based applications. Through the Company’s controlled subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions.
Foresight’s 3D perception systems include modules of automatic calibration and dense 3D point cloud that can be applied to different markets such as automotive, defense, autonomous driving, agriculture, heavy industrial equipment and unmanned aerial vehicles (UAVs).
Eye-Net Mobile develops next-generation vehicle-to-everything (V2X) collision prevention solutions and smart automotive systems to enhance road safety and situational awareness for all road users in the urban mobility environment. By leveraging cutting-edge artificial intelligence (AI) technology, advanced analytics, and existing cellular networks, Eye-Net’s innovative solution suite delivers real-time pre-collision alerts to all road users using smartphones and other smart devices within vehicles.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on “X” (formerly Twitter), or join Foresight Automotive on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses the aims of the MOU, the projected growth of applicable global drone inspection and monitoring sectors by 2027, the potential revenues that may be generated from the commercialization of drone inspection and monitoring technology by 2031, the potential advantages and benefits of this technology, and the possibility that this technology will feature fully integrated inertial navigation, real-time 3D mapping, and intelligent path planning. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Foresight’s annual report on Form 20-F for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on March 24, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the contents of third-party websites.
Investor Relations Contact:
Miri Segal-Scharia
CEO
MS-IR LLC
msegal@ms-ir.com
917-607-8654
FAQ
What is the projected market value for drone inspection by 2027 according to the FRSX announcement?
How much revenue does FRSX expect from the Indian drone collaboration by 2031?
What funding has FRSX applied for in the Indian drone project?
What industries will FRSX's autonomous inspection drones serve?
What are the key features of FRSX's planned autonomous industrial drones?
