RAFAEL is planning on introducing an electro-optical gun shot locator that they claim is able to:

initiating threat warning, detection and localization within few seconds from a gunshot, rocket or a missile being launch, well before the threat reaches its target.

A few seconds seems quite a long time, I suppose it depends on its range but in an urban environment it seems useless when mounted on vehicles or buildings.

The RPG-7 used in Iraq is typically used at 50-100m. Its extreme range is about 300m. After 4.5 seconds of flights it self detonates. I cannot see how this optical locater device will help vehicles in Iraq against RPG fire.

Read more here.

Hat Tip: Danger Room