Summary by Moomoo AI
ParaZero Technologies Ltd., an aerospace company specializing in drone safety systems, has announced an expansion of its partnership with Vayu Aerospace Corporation, a US-based autonomous drone OEM and subsidiary of Alpine 4 Holdings. The collaboration, which has been ongoing for two years, will now include the integration of ParaZero's SafeAir system into Vayu's fleet of VTOL aircraft, such as the G-1MKII and US-1-MKII. This integration is aimed at enhancing safety and regulatory compliance, particularly for operations beyond visual line of sight (BVLOS). The global market for VTOL unmanned aerial vehicles is expected to reach $27.5 billion by 2030, growing at a CAGR of 19.9%. ParaZero's CEO Boaz Shetzer expressed enthusiasm for setting new safety and functionality standards in the...Show More