Rail Vision Receives Patent Approval from the Indian Patent Office

India has the fourth largest railway network with over 22,593 operating trains with a daily passenger count of 24 million passengers and 203.88 million tons of freight

Ra’anana, Israel, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway safety and the data-related market, today announced it was granted a patent approval from the Indian Patent Office.

The patent, titled "SYSTEM AND METHOD FOR OBJECT AND OBSTACLE DETECTION AND CLASSIFICATION IN COLLISION AVOIDANCE OF RAILWAY APPLICATIONS", has already approved in the US and Japan and is pending approval in Europe and China.

The patent covers the method for detection and identification of objects and obstacles near, between or on railway. The method refers to several forward-looking imagers adapted to cover all vision ranges and is also sensitive to each different wavelength of radiation.  Electro optic sensors (e.g. thermal infrared imaging sensor and visible band imaging sensor) are used to survey and monitor railway scenes in real time.

Rail Vision's Main Line system utilizes advanced vision sensor technology, incorporating engineering, big data, and AI that is installed directly on trains. This system is capable of collecting data, including weather information, in real time and from remote locations accessible exclusively by railway routes.

"India, with its vast and busy railway network, is a huge potential market for our advanced technology," said Shahar Hania, Rail Vision's Chief Executive Officer. "The approval of our patent, already recognized in the US and Japan and pending in Europe and China, reinforces our commitment to enhancing railway safety and operational efficiency worldwide."

According to India Brand Equity Foundation, a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, India has the fourth largest railway network in the world with over 22,593 operating trains (9,141 freight and 13,452 passengers) with a daily passenger count of 24 million passengers and 203.88 million tons of freight. In 2022, passenger traffic stood at 3.54 billion as compared to 1.28 billion in 2021. Total revenue from traffic in India for 2022-23 is estimated to be $28.93 billion, an increase of 19% over revised estimates for 2021-22. Freight revenue in India is estimated to be $19.92 billion in 2022-23, an increase of 14% over the revised estimates for 2021-22. The passenger revenue in India is estimated to be $ 7.06 billion, an increase of 32% over a low base in 2021-22.