Summary by Futu AI
ParaZero Technologies Ltd., an aerospace company specializing in drone safety systems, has announced a significant agreement with BladeRanger Ltd., a company developing drone cleaning technology for solar panels and tall buildings. The deal, valued at approximately $230,000, was disclosed in a press release issued on September 5, 2024. ParaZero will assist BladeRanger with regulatory compliance, specifically with the Israeli Civil Aviation Authority, to develop and certify a safe drone operating system. The collaboration aims to create a safety system, including hardware and software, tailored to BladeRanger's needs and compliant with Israeli standards. The global market for cleaning services using drones, valued at $5.06 billion in 2023, is expected to grow to $13.34 billion by 2030. This growth is driven by the adoption of drone technology for...Show More