The global drone inspection and monitoring market is projected to reach $21.3 billion by 2027, driven by demand in industries such as oil and gas, mining, critical infrastructure, and manufacturing
Foresight Autonomous Holdings Ltd.., an innovator in three-dimensional (“3D”) perception systems, announced the approval of its joint development and commercialization project with Big Bang Boom Solutions Pvt. Ltd. (“Big Bang”), a leading Indian drone manufacturer, under the India-Israel Industrial research & development (R&D) and Technological Innovation Fund (“I4F”). With a budget of $5 million, the project is scheduled to begin in September 2025 and will span a 24-month period. The goal of the project is to gradually introduce a variety of mass production drone solutions.
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This approval follows the Company’s announcement regarding the signing of a Memorandum of Understanding (MOU) with the same Indian drone manufacturer, as reported on April 10, 2025. The project’s approval further strengthens the strategic cooperation between Foresight and Big Bang and we believe it holds significant commercial potential for both parties.
According to a market report published by Markets and Markets in February 2023, the global drone inspection and monitoring market is projected to reach $21.3 billion by 2027. Based on projections by Big Bang, commercialization of the jointly developed technology could generate up to $32 million in revenue by 2031.
The joint project aims to develop rugged, autonomous industrial inspection drones equipped with visible-light and thermal sensors. These next-generation drones are designed for reliable operation in GPS-denied environments and will incorporate advanced AI-based algorithms for autonomous navigation, obstacle detection, and path planning.
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The funding approval from I4F, for 50% of the project’s budget, marks a significant step forward in supporting the development and commercialization of drone solutions tailored for industries such as oil and gas, mining, chemical processing, power generation, and critical infrastructure. These drones are expected to improve safety, reduce operational costs, and enhance efficiency by performing inspections in hazardous and hard-to-reach environments. The remaining 50% of the project cost will be jointly funded by Foresight and Big Bang.
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