Stoneridge recently partnered with a second commercial vehicle OEM to deliver its MirrorEye Camera Monitor System (CMS) to the market.
The electronic components manufacturer said the latest award represents an estimated $10 million in peak annual revenue, based on its forecasted production levels, and an assumed penetration rate of 10% to 15% for the system.
Production is expected to commence in 2021.
“As the industry continues to focus on technologies that improve vehicle safety and efficiency, we are excited to support another OEM partner in bringing industry leading technology to its customers,” said Jon DeGaynor, president and chief executive officer at Stoneridge. “Our MirrorEye platform helps drivers operate more safely, reduces vehicle maintenance and safety-related costs for our end users, and improves fuel efficiency of the vehicle.”
MirrorEye CMS replaces traditional rear and side view mirrors with digital cameras, and, according to the company, provides significant improvement over conventional mirrors, including:
- Greater field of view and elimination of common blind spots
- Augmented, enhanced vision quality at night and during adverse weather conditions
- Trailer panning tracks the end of the trailer
- Improved fuel economy through aerodynamic design of its exterior camera arms
Stoneridge remains the only company with an exemption from the Federal Motor Carrier Safety Administration to replace traditional mirrors with the MirrorEye CMS on commercial vehicles in the US. The company currently is engaged in evaluations with leading fleets, including JB Hunt, Maverick Transportation and Schneider National, in preparation for the roll-out of an aftermarket MirrorEye product, which it expects to occur later this year.
To learn more about Stoneridge and its products, visit stoneridge.com.