This Company's Technology Was Chosen To Replace LiDAR By A Leading Israeli Defense Force Integrator

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In an important development, Foresight Autonomous Holdings Ltd. FRSX announced it will customize products and solutions for a leading Israeli defense integrator. 

Foresight recently announced it will develop a customized 3D perception solution to meet the requirements of the integrator’s end customer, the Israeli Defense Forces (IDF) and expects revenue from the project of approximately $250,000 during the first half of 2022. Foresight’s vision solutions include modules of automatic calibration, and dense 3D point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment.

FRSX technology is reportedly undetectable, deals better in harsh conditions, and provides detailed information by displaying more pixels than Lidar technology.

“Our unique technology succeeded in outperforming other leading technologies, such as light detection and ranging (LiDAR), and was therefore chosen as a replacement in defense-focused solutions,” Foresight CEO Haim Siboni said. 

Important Observations

It’s the first time the IDF has replaced this kind of technology, Foresight said. 

The customization project follows two years of extensive testing of QuadSight prototype systems and numerous successful demonstrations to the Israeli Defense Forces. 

After extensive inspection, Foresight’s QuadSight technology was deemed superior to the current LiDAR system used by the leading integrator. But the company’s potential does not end there. As part of its business model, Foresight offers proprietary 3D perception software licensing and support and maintenance services. 

Government defense contracts often have a history of being lucrative and potentially recurring. A defense contract between Lockheed Martin Corp. LMT and the U.S. Air Force, for example, landed the company $585 million in November, and General Dynamics Corp. GD secured a $230 million contract with the U.S. Navy in September. 

Foresight’s recent agreement with the leading Israeli defense integrator may signal the company’s potential emergence into this lucrative field.

“We believe that Foresight’s passive thermal stereo capabilities are vital to the defense industry. By moving to the next stage of evaluation by the IDF, Foresight is supporting its business strategy of working in parallel with vehicle manufacturers, key players in the defense industry and heavy and agricultural equipment manufacturers. Innovative technologies tend to be quickly adopted by the defense market, generating short-term revenue. We believe that our customized, 3D vision-based solution could provide valuable data and results to potential customers from various market segments, including the defense industry, allowing us to expand our presence in these markets,” Siboni said.

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Photo by Foresight Autonomous