Thursday, May 30, 2024
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Next Vision Cameral Sales Soar

The boom in the global drone and UAV market continues to fuel the order book of Next Vision. The company, which develops stabilized photography solutions for drones and UAVs, received an order from an existing customer for the purchase of cameras and other products worth 19.6 million dollars.

The order, received from an existing customer, will be supplied in 2024. It will help Next Vision meet the forecast it provided to the market, according to which it will grow by at least 70% in 2024, reaching a turnover of 88 million dollars. Since the beginning of 2024, Next Vision has reported receiving five significant orders for the sale of cameras and other products, totaling 33 million dollars.

Next Vision, managed by Michael Grossman, reported that since the beginning of the conflict in Gaza, there has been an increase in orders for cameras and other products from its Israeli customers. However, the war has not yet significantly affected its financial results or its ability to deliver orders to its customers on time.

In the capital market, it is estimated that the current order is related to the demand for the company’s products in foreign markets, such as the European market, as a lesson from the war in Ukraine – which led to an acceleration in the use of suicide drones, UAVs, and small reconnaissance drones by forces in the field. The war in Ukraine has led to an increase in the security budgets of European countries, given the fear of the expansion of Russian aggression to other countries bordering it and in its sphere of influence.

Sharp Increase in Revenues

Next Vision was founded in 2009 by Boris Kipnis, a graduate of the 8200 technological unit and an engineering developer at Aeronautics; Chen Golan, a combat pilot; and Michael Grossman, a graduate of the 8200’s technological R&D unit. The company’s solution enables zooming in on video footage taken by devices such as UAVs and stabilizing the image in real time. Image stabilization becomes more challenging as the camera becomes smaller and lighter.

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