In a groundbreaking development, Foresight Autonomous Holdings Ltd’s affiliate, Rail Vision Ltd, has achieved formal certification for vital European Union (EU) railway standards for its Main Line system. The aftershocks of this announcement have reverberated through the stock market, propelling Rail Vision Ltd into a prominent position in the railway technology sector.
The stock of Rail Vision Ltd is experiencing a significant surge in trading today following the official confirmation of its compliance with European standards.
At the time of this publication, Rail Vision Ltd stock (RVSN) has witnessed a surge.
Rail Vision Ltd
Current Price: $9.12
Change : +3.71
Change (%): (68.58%)
Volume: 25.0M
Source: Tomorrow Events Market Data
This achievement not only reflects Rail Vision’s unwavering commitment to quality, safety, and innovation in the railway technology market but also places it at the forefront of industry competition. Foresight, holding a substantial 10.2% stake in Rail Vision, stands to benefit from the company’s newfound recognition.
The European Union, recognized as one of the largest markets for rail products and services globally, presents vast opportunities for companies involved in railway technologies. The Association of the European Rail Supply Industry’s (UNIFE) World Rail Market study emphasizes the lucrative nature of the EU market. Moreover, a recent study by MarketsandMarkets predicts that the global digital railway market is poised to exceed $100 billion by 2027, with a compound annual growth rate of 9.7%.
The Main Line system’s certification of Rail Vision in compliance with European standard EN 50155 is a significant milestone. This standard, which sets the benchmark for hardware equipment in railway applications, ensures the robustness and reliability of rolling stock components. The system’s adherence to European standard EN 50126, focusing on reliability, availability, maintainability, and safety (RAMS), is crucial in guaranteeing consistent performance and safety in railway operations.
Noam Shloper, Head of Quality and Reliability at Rail Vision, expressed the company’s pride in achieving compliance with EU standards. Shloper stated, “Achieving compliance with these EU standards marks a major milestone for Rail Vision and positions us ahead of the competition in the railway technology market. Our team is driven by a commitment to support product quality and safety above all else.”
Rail Vision’s Main Line system’s compliance with European standards extends beyond hardware to software and fire protection. The adherence to European standard EN 50657 for software on-board rolling stock ensures the highest levels of safety and functionality, crucial for the smooth operation of modern trains. Furthermore, the system meets European standard EN 45545 related to fire protection on railway vehicles, emphasizing Rail Vision’s comprehensive approach to safety standards.
As Rail Vision Ltd emerges from this certification triumph, it sets the stage for accelerated adoption of its Main Line system across the expansive EU market. The company’s dedication to meeting and exceeding EU railway standards positions it as a key player in the dynamic and lucrative railway technology landscape. Investors and industry watchers alike are now eyeing Rail Vision Ltd’s trajectory, anticipating further growth and innovation in the evolving world of rail technology.
