Israel’s Rail Vision Ltd has been granted a patent in India for its technology to detect objects on the tracks to avoid collisions.
The company is an innovator in rail safety and data technology. The patent from the Indian Patent Office complements Rail Vision’s existing approvals in the United States and Japan and is currently pending in the European Union and China.
The technology involves a system of cameras facing the direction of travel of the train and electro-optical sensors that monitor the railway infrastructure in real time. The Main Line system, equipped with advanced technology, processes data, including weather conditions in areas accessible only by rail.
India, with 22,593 trains and 24 million passengers a day, is an important market for Israeli rail technology. The country’s rail network, the fourth largest in the world, has seen substantial growth in passenger and freight traffic, with revenues estimated at USD 28.93 billion in the 2022-2023 financial year, up 19% from the previous reporting period.
Rail Vision Ltd, commitment to improving rail safety
Shahar Hania, chairman and CEO of Rail Vision, expressed the company’s commitment to improving the safety and operational effectiveness of rail transport worldwide. “The approval of our patent, already recognized in the United States and Japan and pending in Europe and China, reinforces our commitment to improving the safety and operational effectiveness of railways around the world,” he said.
The Israeli company is listed on the Nasdaq market in the United States and has a market capitalization of USD 57.2 million. The level of cash on the balance sheet exceeds the level of debt, indicating financial stability. Economic analysts expect sales to increase this year after a decline in previous years.