A new Israeli manufacturer of software for unmanned aircraft has entered the scene with an eye on markets in Asia, Latin America, and Africa, Globes reported on Sunday.
The senior executives of the firm, to be called Meteor Aerospace, include former CEO of Israel Aerospace Industries (IAI), Itzhak Nissan, and tech entrepeneur Hezi Bezalel.
“All my life, I have been involved in creativity, initiative, innovation, and management. After running Israel’s largest defense company, I looked for a worthwhile and interesting challenge. I decided to continue in the defense field, which I know extremely well, this time as a private entrepreneur. I feel that I am once more at the forefront of the defense business, only this time I don’t have to worry about sixteen-thousand employees as I did at IAI,” says Nissan, chairman and CEO of Meteor Aerospace.
Defense industry sources estimate the initial investment in the company at over $10 million. Meteor Aerospace currently is headquartered in an office building in Yehud, and just finished erection of a production and assembly facility in Modi’in. “We mainly have integration and software people. The rest we outsource,” says Nissan.
Although product details are not being made public yet, they did confirm that the focus will be on unmanned systems: UAVs, and unmanned boats and vehicles for various military purposes and for protection of borders and sensitive installations.
Nissan says that the new company will not compete with his former employer, IAI.