Core Insights - ParaZero Technologies Ltd. has received a $187,000 purchase order from a U.S.-based Advanced Air Mobility company, marking a significant milestone in the air mobility sector [1][2] - The order includes preparations for serial production and delivery of an initial batch of drone safety systems, indicating potential for large-scale manufacturing [2][3] - The customization project involved integrating safety solutions into manned aircraft for various applications, including personal, military, and logistical uses [3][4] Industry Insights - The electric VTOL (eVTOL) air taxi market is projected to reach $6.22 billion by 2030, driven by demand for cleaner transportation options [5] - eVTOL aircraft, powered by electric propulsion, are expected to significantly reduce emissions compared to traditional fossil fuel-powered aircraft [5] - The development of manned aircraft with vertical takeoff and landing (VTOL) capabilities represents a significant advancement in next-generation air mobility [4]

TEL AVIV, Israel, Oct. 08, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "company" or "ParaZero"), an aerospace company specializing in drone safety systems for defense and commercial drones and for urban air mobility aircraft, recently announced that it has achieved significant milestones in the rapidly growing Counter-Unmanned Aerial Systems (C-UAS) market with back-to-back orders for its advanced counter-drone solution. These recent successes highlight ParaZero's impressive entr ...

TEL AVIV, Israel, Oct. 01, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "company" or "ParaZero"), an aerospace company specializing in drone safety systems for defense and commercial drones and for urban air mobility aircraft, today announced that it has received a new purchase order for its advanced Counter-Unmanned Aerial Systems (C-UAS) solution from a global leading Tier 1 defense and intelligence OEM company. This is another significant achievement for ParaZero in its continu ...

Tel Aviv, Israel, Sept. 24, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company" or "ParaZero"), an aerospace company focused on safety systems for defense and commercial drones and urban air mobility aircraft, announced today that it has received a $187,000 purchase order from a U.S.-based Advanced Air Mobility (AAM) company in the aerial vehicle industry. This order follows the successful completion of the advanced drone safety system customization project that the Company pre ...

TEL AVIV, Israel, Sept. 05, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "company" or "ParaZero"), an aerospace company focused on drone safety systems for defense and commercial drones and urban air mobility aircrafts, today announced that it has signed an agreement with BladeRanger Ltd. (TASE: BLRN) ("BladeRanger"), a developer of a powerful cleaning payload for drones that is designed for inspection and washing of solar panels and tall buildings. The multi-phase agreement is va ...

TEL AVIV, Israel, Sept. 03, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "company" or "ParaZero"), an aerospace company focused on drone safety systems for defense and commercial drones and urban air mobility aircraft, reported today its financial results for the six months ended June 30, 2024. Key Highlights of ParaZero's Achievements in the First Half of 2024 & Recent Updates: Enhanced presence in the defense market: announced partnership with a Tier 1 defense OEM company to ada ...

Core Viewpoint - Xylo Technologies Ltd. announced a partnership between its affiliate ParaZero Technologies Ltd. and a leading Tier 1 defense OEM to adapt drone safety systems for military and medical missions, aiming to enhance the efficiency and safety of medical deliveries in critical areas [1][2][3]. Group 1: Partnership and Collaboration - ParaZero will provide 50 systems for testing to the customer, with plans for additional hundreds of systems for a pilot program upon successful testing completion by the end of 2024 [2]. - The collaboration aims to develop a scalable and cost-effective mass production system for medical deliveries, ensuring they are safer, faster, and more reliable [2][3]. Group 2: Company Background - ParaZero Technologies is a leading developer of autonomous parachute safety systems for commercial and military applications, founded in 2014 by aviation professionals and drone industry veterans [4]. - Xylo Technologies focuses on innovative growth partnerships in advanced medical solutions, digital commerce, and electric vehicle markets, with various affiliates including ParaZero [5].

Tel Aviv, Israel, Aug. 09, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company" or "ParaZero"), an aerospace company focused on drone safety systems for defense and commercial drones and urban air mobility aircraft, announced today that on August 8, 2024, it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is eligible for an additional 180 calendar day period, or until February 3, 2025, to regain compliance with the Nasdaq's minimum $1 ...

The testing was monitored and approved by a third-party, unbiased testing agency. This agency meticulously measured, monitored and documented all relevant metrics, ensuring that every aspect of the testing process is conducted according to the highest standards. Tel Aviv, Israel, July 10, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company" or "ParaZero"), an aerospace company focused on drone safety systems for commercial drones and urban air mobility aircraft, announces today ...

Tel Aviv, Israel, July 10, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company" or "ParaZero"), an aerospace company focused on drone safety systems for commercial drones and urban air mobility aircraft, announces today it has received ASTM F3322-22 approval, following the completion of the official testing for its SafeAir Mavic 3 system. Using the Company's SafeAir system, operators of DJI Mavic 3 Series, will be eligible for an approval to fly over people and moving vehicles. ...