AR technology and products provider Vuzix Corporation (NASDAQ: VUZI) has announced it has signed an agreement with a new global Tier-1 Aerospace firm to build a customized commercial avionics waveguide-based head mounted display (HMD) system, the company said.
Under the terms of this agreement, Vuzix and its new customer have embarked on a multi-stage development program with agreed upon milestones and payments. The first stage of this program is for approximately USD 250,000 and is expected to be completed this fall.
Vuzix expects to receive follow-on orders from this customer to finalize the product´s development and hard tooling necessary to ultimately deliver commercial volumes of the custom waveguide systems as early as the second of half of 2019 for this customer´s commercial avionics solution.
Vuzix Corporation is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company´s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 64 patents and 71 additional patents pending and numerous IP licenses in the Video Eyewear field.