Seeing Machines signs exclusive deal with Collins Aerospace for eye-tracking solutions
LONDON, UK: Seeing Machines Limited, an Australian company that develops AI-powered eye-tracking technology for transport safety, has signed an exclusive and perpetual licence agreement with Collins Aerospace, a business unit of Raytheon Technologies and a leader in aerospace and defence solutions.
The agreement will enable the companies to jointly market and deliver eye-tracking solutions to the global aviation industry, enhancing safety and supporting pilots with fatigue detection solutions.
The agreement follows a successful collaboration announced in November 2021 to develop fatigue management technology for the aerospace sector, which has an estimated market opportunity of over US$700 million in the next 20 years.
Under the agreement, Seeing Machines will grant Collins exclusivity for aviation and space fields of use, and receive an upfront payment of US$3 million, with an additional US$7 million payable over the next two years.
Collins Aerospace will also pay Seeing Machines non-recurring engineering payments to develop the solutions, and potential future royalty payments as products are sold to customers.
Seeing Machines’ eye-tracking technology uses advanced computer vision and machine learning to monitor and understand human behaviour, such as attention, distraction and drowsiness. The technology can be integrated into various transport systems, such as cars, trucks, trains, planes and simulators, to improve safety and performance.
Troy Brunk, President of Avionics at Collins Aerospace, said: “This agreement with Seeing Machines allows Collins Aerospace to further enhance our solutions. Seeing Machines’ cutting-edge technology, coupled with our expertise in avionics and flight controls will help deliver innovative products that address the evolving needs of our customers. It is a testament to our commitment to ensuring the safety of pilots, flight crews and passengers.”
Paul McGlone, CEO of Seeing Machines, said: “Over the past five years, Seeing Machines has shaped the eye-tracking market for aviation, working with some of the world’s largest companies to develop and implement our leading interior sensing technology.
We are now in a position to immediately exploit our significant existing pipeline of business opportunities by bringing these solutions to market through this transformational partnership with the world’s leading avionics supplier.
Our business operates with high barriers to entry and we have been uncontested in this space to date, so the timing could not be better.
Being able to deliver for our customers, on a scale we could not do independently, demonstrates the enduring strengths of our differentiated, high-quality operating model, the superiority of our proprietary technology and our focus on delivering value for the benefit of all stakeholders.”
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