Aeva Technologies Inc., known for its LiDAR sensors in the self-driving vehicle market, is making significant strides in the industrial automation sector. The company is set to begin shipments of its sensors to Nikon Corp. this month, marking a crucial transition from development to commercialization in the industrial automation space.
Nikon, a global manufacturer of metrology and inspection equipment, will integrate Aeva's sensors into industrial machines used by leading automotive and aerospace manufacturers. These sensors will play a vital role in automating manufacturing processes and detecting defects during assembly. This partnership is expected to serve as a catalyst for Aeva's expansion in the industrial automation market.
Aeva's CEO, Soroush Salehian, emphasized the importance of this milestone, stating, "This upcoming launch will mark pivotal milestones for Aeva as we progress from the in development stage to commercialization for the first time in industrial automation." The company has successfully scaled up its dedicated LiDAR chip manufacturing line at Fabrinet to support these deliveries.
The key to Aeva's attractiveness in the industrial sector lies in its Frequency Modulated Continuous Wave (FMCW) 4D LiDAR technology. This innovative approach enables micron-level accuracy, a crucial feature for industrial metrology and high-precision measurement applications that traditional time-of-flight LiDARs cannot achieve. By adapting its automotive LiDAR-on-Chip module with different algorithms, Aeva offers a faster, smaller, and more cost-effective solution for industrial use.
The industrial automation market presents a significant opportunity for Aeva, with projections indicating growth to $44.94 billion by 2032, at a CAGR of 6.2%. As factories increasingly adopt automation technologies, sensors like those provided by Aeva will be crucial in maximizing operational efficiency and equipment effectiveness.
In addition to the Nikon partnership, Aeva has expanded its collaboration with SICK AG, a global leader in sensor-based solutions for industrial applications. This partnership aims to incorporate Aeva's FMCW technology into SICK's portfolio of high-accuracy contactless sensors for various factory automation applications. The collaboration will utilize Aeva's CoreVision sensing module and digital signal processing algorithms to enable precise measurements across diverse surfaces and lighting conditions.
Dr. Simon Brugger, Senior Vice President of Research & Development at SICK, highlighted the potential of Aeva's technology, noting its capability for micron-accurate distance sensing at large stand-off distances and precise velocity detection. This expansion of collaboration between Aeva and SICK could potentially disrupt the multi-billion dollar precision sensing market.
The move into industrial automation represents a strategic diversification for Aeva, allowing the company to tap into near-term revenue potential while continuing to develop its automotive business. By leveraging its core FMCW technology across different sectors, Aeva is positioning itself as a versatile player in the sensor technology market.
As Aeva transitions from development to commercialization in the industrial automation sector, the company's progress will be closely watched by industry observers. The success of these partnerships could pave the way for further expansion and solidify Aeva's position as a key player in both the automotive and industrial sensor markets. The company's ability to adapt its technology for diverse applications demonstrates the potential for LiDAR technology to revolutionize multiple industries beyond autonomous vehicles.
