Some companies specializing in Augmented Reality (AR) are growing to meet the demand for business and enterprises in the field of AR. Vuzix has become one of the most famous enterprises. It is this company that has concluded many partnerships with various enterprises. At present, the company announced the signing of an agreement with the aerospace firm of the 1st level on the creation of an individual display system for onboard equipment in AR-format.
Vuzix and their new client have created a multi-stage development program that includes several pre-agreed stages and payments. The first stage of the program is planned to be completed in the fall of 2018.
Aerospace Firm Tier-1 Signed And Coordinated With Vuzix An Individual On-Board Equipment Display System
If the first stage is successful and the client company signs the project. Vuzix expects to receive follow-on orders from the customer to complete the product development along with the tools needed to deliver commercial volumes of the AR user system already in the second half of 2019.
“We are happy to join this partnership and believe that it represents a strong indicator of confidence in our capabilities and recognition of our leading position in the field of waveguide optics,” said Paul Travers, President and CEO of Vuzix.
The media previously reported positive results for 2018. The company showed quarterly revenue for the 2nd quarter of 2018 of $ 2.6 million (USD), compared to $ 1.3 million for the 2nd quarter of 2017. The brand explained the company’s continued growth in subsequent orders from customers who completed the pilot programs and moved to full-scale deployment. Also, the profit is provided by regular customers.
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