Stoneridge, Inc. announces its second MirrorEye Camera Monitor System (CMS) award with a commercial vehicle OEM. The award represents an estimated $10 million in peak annual revenue based on forecasted production levels and an assumed penetration rate of the system of 10%-15%. Production is scheduled to begin 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,” says Jon DeGaynor, President and Chief Executive Officer, 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.”
Stoneridge’s MirrorEye CMS replaces traditional rear and side view mirrors with digital cameras and 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
In addition to having OEM awards for MirrorEye, Stoneridge remains the only company in the world with an exemption from the Federal Motor Carrier Safety Administration (FMCSA) to replace traditional mirrors with the MirrorEye CMS on commercial vehicles in the U.S. The Company is currently engaged in extensive evaluations with leading fleets, including J.B. Hunt, Maverick Transportation, and Schneider National, in preparation for the roll-out of an aftermarket MirrorEye product which is expected this year.