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LightPath Technologies has signed a joint development agreement with Hangzhou (Changzhou) OLE-Systems Laser Technology, a subsidiary of GreatStar Group (OLE), to design and manufacture an optical system assembly based on LightPath's proprietary high power fiber delivery technology.The goal of the new agreement is to develop a low-cost, high-quality Laser Diode to Fiber Coupling System with 16 multimode fiber arrangements.
The product will be based on LightPath's technology that has been developed and improved over the past 15 years. Their work with OLE will result in the development of a fiber delivery system for production level position mapping for mission critical applications such as for use with autonomous vehicle instrumentation where accuracy and calibration are of paramount concern.
For the last few years, the market demand of laser distance sensing had been increasing rapidly; however, the quality and price of the existing products have not the application requirements. OLE's latest laser distance sensor demonstrates innovative design aimed at improving sensor performance and quality while reducing cost.
According to a market research report from BCC Research, the global tools and components for photonic applications market should reach nearly $10.6 billion and $19.2 billion in 2016 and 2021, respectively, demonstrating a five-year compound annual growth rate (CAGR) of 12.7%. The sensor segment should grow from $2.5 billion in 2016 to nearly $4.6 billion by 2021, at a five-year CAGR of 12.6%.
