(Report Producer/Author: Shen WanHongyuan Research, Zhu Zhiqiu, Pu Mengjie, Li Lei)
1. Lidar: intelligent weapon, ushering in a golden period of rapid development
1.1 Under the L3 advanced level, the weapon of automobile intelligence
At present, the automobile industry presents a trend of "new four modernizations", that is, the so-called electrification, networking, intelligence and sharing. Among these four trends, based on electrification, networking can realize the collection of big data, help achieve intelligent travel, and finally achieve the ultimate goal of automatic driving.
The ultimate form of so-called automatic driving is to get rid of human control and realize the automatic safe and stable operation of the car through the computer system. From the perspective of the hardware structure of automatic driving, it can be divided into three levels: the perception layer, the decision-making layer and the control layer, of which the perception layer is the premise and foundation.
L3 level is the beginning of entering the fully automatic driving stage, the requirements for the information perception of the surrounding environment of the car will be significantly increased, and the importance of lidar will begin to stand out, which is a weapon to achieve intelligent upgrading.
Since absolute driverless/autonomous driving cannot reach the final form in the short term on the path to realization, according to the SAE Association standards in the United States, autonomous driving is divided into L0-L5 6 levels according to its degree of automation.
L0 Class: A conventional car in which the driver is in full control of the vehicle.
L1 level: driving control is the mainstay, and the system assists in a timely manner. At certain times, systems such as the ESP Electronic Body Stabilization System or the ABS Anti-Lock Braking System are involved, mainly to improve driving safety.
L2 Assisted Driving: Partially automated, the driver still needs to concentrate on the road conditions, which can be achieved by mainstream car manufacturers. The L1 level autopilot mainly assists the throttle and brake, and the L2 level adds a steering wheel to realize new functions such as fast driving on the highway and automatic parking by the driver in the car. At present, major car manufacturers can achieve L2 level autonomous driving.
L3 Semi-Autonomous Driving: Conditional automatic control, the system automatically controls the vehicle in most road conditions, driving attention does not need to focus on the road conditions, but when the system makes a request, the driver must regain driving control, so the driver is still unable to sleep or take a deep rest.
L4 Highly Automated Driving: Capable of completing driving tasks and monitoring the driving environment in certain environments and under certain conditions.
Level 5 fully autonomous: fully automated, fully automated, humans fully become passengers.
According to the above classification, the automatic driving system (ADS) usually refers to the L3-L5 level, and the current mainstream car manufacturers have broken through the L2 level and successively made breakthroughs to the L3 level to enter the initial stage of true automatic driving.
At present, automatic driving is in the transition stage from L2 level to L3 level, and the lidar configuration scheme is the choice of most mainstream manufacturers. The current L3 level development route, most of the depots are on the high-speed L2 to do upgrades. The difference between L3 and L2 is more that the vehicle is responsible for the main peripheral monitoring, and the human driver is only partially dominated by complex scenes, so L3 emphasizes the role of the perception layer, using sensors to accurately transmit information around the driving.
At present, there are two main types of L3-level perception layer implementation paths:
1) Visual route: Tesla's choice of the program emphasizes the "weak hardware strong algorithm", that is, the hardware sensor requirements are low, generally only need the camera and millimeter wave radar, but the algorithm requirements are extremely high.
The advantage of the vision scheme is that the hardware has been relatively mature and the cost is low, but because the environmental information captured by the camera is 2D, it is necessary to use the algorithm to convert the 2D information into a 3D presentation; at the same time, the millimeter wave radar detection angle is small, and the long-distance detection ability is average, and excellent algorithms are still needed to make up for it. Therefore, this visual solution has very high requirements for the manufacturer's algorithm capabilities, and the construction of the algorithm requires massive data as the foundation, at present, only Tesla in the industry has the ability to master and develop completely autonomous software and hardware algorithms, and occupies a more obvious advantage in data reserves, commercialization and other aspects, so the visual solution is tesla's choice of deployment program.
2) Lidar route: In addition to Tesla, most mainstream car manufacturers choose the scheme, emphasizing the "strong hardware weak calculation method", which is a weapon to achieve overtaking in curves.
The lidar scheme is to add lidar on the basis of the original camera and millimeter-wave radar vision scheme, which can achieve long-distance and all-round detection, and the collected data is more comprehensive and three-dimensional, so the requirements for the processing ability of the later algorithm are significantly reduced.
In the field of automatic driving, Tesla has a more obvious first-mover advantage, while other traditional car manufacturers or new potential manufacturers mostly start late, and cannot use the same powerful algorithm capabilities as Tesla in a short period of time. By strengthening the hardware deployment capabilities and weakening the requirements of the algorithm layer, it is possible to accelerate the automatic requirements of L3 levels, and it is also possible to achieve curve overtaking in the new round of competition.
Therefore, at present, adding lidar to the body sensor is the common choice of most mainstream car manufacturers except Tesla. (Source: Future Think Tank)
Based on the above analysis, it can be seen that the current automatic driving has gradually entered the L2+, L3 stage, the information perception requirements for the surrounding environment of the body will be significantly improved, for most mainstream car factories except Tesla, the configuration scheme equipped with lidar is its common choice, so the automotive industry's demand for lidar will open a stage of rapid development.
1.2 Mature technology + cost downward, lidar development accelerated
Two factors cause the accelerated penetration of lidar, one is the maturity of technology, and the other is the downward cost.
Lidar development history: Originated from lasers, after 2019, the industry began to enter a stage of rapid development.
Phase 1 (1960-2000 Origin Stage): Lidar is the use of lasers emitted by lasers for detection, the world's first laser was born in 1960, since then laser technology has achieved continuous development. Early lidar was mainly used in scientific research and mapping projects, and it was not until 1970 that the application area was expanded, such as 2D scanning single-line lidar products introduced by manufacturers such as Sick (Sik) and Hokuyo (Beiyang) were used in industrial surveying and early unmanned driving research projects. stairs
Segment 2 (commercialization start-up stage after 2000): After 2000, the lidar system architecture was expanded, and the DARPA Grand Challenge of the U.S. Defense Advanced Research Projects Agency(s) that began in 2004 promoted the rapid development of unmanned driving technology and led to the application of high-line lidar in unmanned driving The application prospects in the application began to receive widespread attention. The development of vehicle regulation of vehicle-mounted lidar also began in this period. In 2010, Ibeo partnered with Valeo on the development of the vehicle-specific lidar SCALA, a 4-wire lidar based on a mirror architecture that was tested and validated over many years and went into mass production in 2017.
Phase 3 (Accelerated Development Phase after 2019): With the continuous innovation and development of lidar technology solutions, the scale of its projects in unmanned driving has been expanding, and it has gradually entered the commercial on-board test, and after 2019, lidar has entered the accelerated stage of development.
Technical route: Lidar migrates from mechanical to solid state, gradually meeting the requirements of vehicle regulations.
According to the different scanning methods, the current lidar can be divided into three categories: mechanical, semi-solid-state (rotor, MEMS, etc.) and solid-state (Flash and OPA type, etc.).
Although the mechanical rotary type has a mature scheme, it is difficult to pass the vehicle regulation certification, and hybrid solid state is the current mainstream scheme. Mechanical rotation lidar is the earliest development of lidar, which works by driving the laser beam through an internal motor to scan horizontally 360° rotation. Mechanical lidar is generally larger in size and difficult to integrate because it is rotated scanned by mechanical parts, and because of the presence of moving parts, lidar has poor reliability and short life, making it difficult to pass vehicle-level certification.
Hybrid solid-state lidar is between mechanical and all-solid-state, mainly divided into three types: rotor, MEMS micro-galvanometer and prism, of which rotor lidar is the earliest vehicle mass production scheme. This scheme refers to the mirror mirror around the center of the circle constantly rotating scanning laser method, in 2017, Audi released the world's first mass production L3 self-driving car A8 on the lidar using the rotor structure. Although MEMS does not have a large detection angle range of mechanical lidar, it has good performance, detection distance and high resolution, while reducing size, reliability and cost can be significantly reduced, and it is now expected to become the next on-board mass production solution.
Solid-state lidar: Lidar has been evolving for a long time, and the technology is still not fully mature. Solid-state laser thunder can achieve a high degree of integration due to the fact that there are no scanning parts that need to be rotated and movable inside, and it is easier to meet the requirements of continuous operation of vehicle-grade equipment in continuous vibration, high and low temperature, high humidity and high salt. Solid-state lidar mainly has two types: OPA optical phased array and Flash flash lidar.
Cost side: Lidar prices have shown a downward trend.
The high cost is one of the reasons why lidar has not been widely popularized, and the earliest generation of mechanical rotary lidar was first introduced, such as Velodyne's mechanical lidar products, which often cost more than 10,000 US dollars. In recent years, the unit price of lidar has begun to decline significantly.
During CES 2020, a number of exhibiting suppliers released low-cost in-vehicle lidar, and some prices dropped to less than $1,000. During the CES2020 exhibition, Velodye, Sagitar Juchuang, DJI and other star technology companies have launched a new generation of lidar: Velodyne, the most famous in the lidar industry, launched a new product Velabit, only the size of a playing card, the price is 100 US dollars, the whole car needs to be loaded with 5; DJI's incubated subsidiary Lanwo Livox launched two new LiDAR Horizon and Tele-15, at a price of 999 US dollars and 1499 US dollars, respectively. It has attracted considerable market attention (combined with performance parameters, DJI Lanwo lidar is not the first). As can be seen from the breakdown in the table below, the price of new lidar launched by most lidar suppliers has dropped below $1,000.
From the supply point of view, technology (whether to meet the requirements of the car regulations) and cost (whether it can be significantly reduced) is the core factor that previously restricted the large-scale application of lidar, the current lidar technology path is constantly clear, the follow-up will be easier to meet the requirements of the car regulations, while the cost has been significantly reduced, combined with the current more car manufacturers have begun to release intelligent models equipped with lidar solutions, we believe that lidar will accelerate the popularization of the front-loading market in the car, accelerate the process of automotive intelligent connection.
2. 100 billion blue ocean: 2022 starts, 5-year CAGR exceeds 90%
2.1 Starting from the first year of 2022, commercial products will be accelerated
2022 can be regarded as the first year of lidar mass production. 2022 is regarded as the first year of lidar mass production, mainly due to the following two judgments: (1) a number of models equipped with lidar will be mass-produced in 2022, including Xiaopeng, Weilai, Extraordinary Automobile and many other manufacturers; (2) at the 2022 CES exhibition, a number of lidar manufacturers released a variety of new solutions for vehicle-level laser radar, such as Sagitar Juchuang, Hesai Technology, etc.
At cess 2022, lidar manufacturers have released new products again, and the MEMS solution has already been planned. At the 2022 CES exhibition, almost all mainstream lidar manufacturers at home and abroad attended, including domestic lidar companies such as Robosense, Hesai, Innovusion, and foreign lidar companies such as Velodyne, Luminar, and Ibeo. From the perspective of domestic manufacturers, Sagitar Juchuang and Hesai have already had a plan for car regulations.
Sagitar Juchuang: Released a new 128-line product, M1 as a vehicle regulation program, has signed cooperation with a number of car manufacturers.
Sagitar Juchuang showcased the latest 128-line mechanical scanning lidar product, which is mainly used in L4 level autonomous driving Robotaxi's main radar, and is currently used by autonomous driving technology companies. In the first half of 2021, Sagitar Juchuang's solid-state lidar M1 completed the SOP version locking and vehicle specification-level mass production after a series of rigorous vehicle specification tests, becoming the only second-generation intelligent solid-state lidar in the world to realize the mass production and delivery of vehicle specifications, and has obtained many fixed-point orders for passenger cars and commercial projects from BYD, GAC Aegean, WM Motors, Extreme Krypton, Lotus and other enterprises, covering various types of models such as supercars, coupes, SUVs, and heavy trucks.
Hesai Technology: Released a new generation of vehicle-grade lidar AT128, mass production in the second half of the year.
During CES 2022, Hesai Technology publicly exhibited the automotive grade semi-solid-state lidar AT128 equipped with a new generation of self-developed chips for the first time, and released the new close-range ultra-wide-angle lidar QT128. At present, Hesai AT128 has obtained more than millions of OEMs around the world, including Ideal, Jidu, Gaohe, Lotus, and will be fully mass-produced in the second half of this year; QT128 is a blind radar built for autonomous driving applications such as L4-level robotaxi and robotruck, which will be mass-produced and delivered in the first quarter of 2023. (Source: Future Think Tank)
Mainstream lidar manufacturers have accelerated the launch of commercial products and mass production planning on the car, and continuously enriched the cooperation and landing of car companies. From the perspective of the progress of midstream manufacturers of lidar manufacturers, on the one hand, each company is strengthening the product layout and improving product performance, MEMS program and rotor program are the main direction of new products, on the other hand, each company is also actively reaching fixed-point cooperation with car manufacturers to accelerate product landing. At present, overseas lidar manufacturers are represented by Luminar, Innoviz, Velodyne, etc., and domestic lidar manufacturers are represented by Sagitar Juchuang, Hesai Technology, Tudtong, etc.
2.2 Market space: 100 billion blue ocean, the next five years of the industry
CAGR over 90% Based on the above analysis and future trend judgment, we make medium-term (2025) and long-term (2030) measurements of the lidar market space:
Interim: By 2025, we expect the global automotive lidar market to exceed $6 billion. In 2022, the development of laser radar will accelerate, and there will be obvious changes in new forces car manufacturers + lidar manufacturers, and the market size of the lidar market for intelligent auxiliary driving market can remain optimistic. From 2021 to 2022, we have seen more positive factors, which are manifested in: 1) many lidar manufacturers released new solutions this year, Huawei also began to join the lidar array, and the number of manufacturers releasing lidar solutions increased significantly; 2) Xiaomi, Apple and other new power manufacturers also joined the smart automotive industry. We believe that the continuous addition of new players and the rapid update and iteration of existing player solutions are expected to accelerate the evolution of intelligent driving, and the penetration rate of laser radar is expected to achieve rapid growth. Our calculation of the lidar market size in 2025 is as follows:
Market size = Passenger car market sales ∗ Frontage penetration rate ∗ Number of lidar units per bicycle ∗ Lidar unit price
1) Passenger car market sales: According to the data of the Passenger Car Market Information Association, global car sales totaled 78.03 million units in 2020, down 13% year-on-year (mainly affected by the epidemic). Combined with historical data, we approximately assume that global passenger car sales will be around 90 million units by 2025 (assuming that the impact of the pandemic is eliminated and demand is gradually recovering).
2) L3 level with lidar program penetration rate: According to the "automobile industry medium and long-term development plan", "intelligent automobile innovation development strategy" and other national planning and the industry's own development law, it is expected that by the end of 2020, the total penetration rate of L1/L2/L3 level autonomous vehicles in the mainland market will reach 50%, and the L3 level will begin to enter the market; by 2025, the total penetration rate of each level of automatic driving will reach 80%, of which the L3 level is 20%, and the L4 level will begin to enter the market.
Due to the general L2+/L3 level intelligent driving vehicles began to carry lidar, and considering that Tesla does not use lidar solutions at present, and the penetration rate varies around the world. We approximately assume a 10% penetration rate for 2025 global L3-class vehicles equipped with a lidar scheme, which is half the penetration rate of the above L3-class vehicles.
3) Number of bicycles: According to the configuration of vehicles with lidar currently released, the number of lidars on most vehicles is between 1-3 (some models plan to carry 4), conservative estimates, we assume that the average number of lidars on bicycles in 2025 is 1.5.
4) LiDAR unit price: In 2020, we see the unit price of lidar drop to around $1,000. We believe that the subsequent lidar will continue to maintain a downward trend in unit price, assuming that the average unit price of lidar will drop to $450 in 2025. Even so, lower prices can go a long way towards increasing penetration.
It can be calculated that the global market size of lidar in the field of intelligent driver assistance in 2025 will be about 6.075 billion US dollars, and the specific calculation is as follows:
Annual Market Size = ∗ % ∗ . ∗ = . Billions of dollars
Based on the above calculation results, according to the data of the third-party Sullivan Consulting Agency, the market size of the vehicle-mounted lidar in 2019 is about 120 million US dollars, and the compound growth rate of the industry in 2019-2025 is more than 90%.
Forward 2030: If the lidar penetration rate exceeds 30%, the lidar market space exceeds 100 billion yuan.
1) About global vehicles: Considering the long-term increase in the global population and the improvement of living standards in 2030, we assume that the demand for global vehicles will increase to a certain extent, and the conservative assumption will increase to 100 million units; 2) About the penetration rate: According to the data of Zhiyan Consulting, by 2030, the penetration rate of the global passenger car L1/L2 level will reach 30%, the penetration rate of the L3 level will reach 21%, and the penetration rate of the L4/L5 level will reach 15%, that is, the total penetration rate of L3 level and above will reach 36%. Considering that there are manufacturers who have not chosen a lidar solution, we assume that the long-term penetration rate of lidar in the passenger car market in 2030 will be 35%;
3) Regarding the number of bicycle configurations: Considering that with the automatic driving of cars will be advanced to L3 level and above, we believe that the number of lidar deployed by bicycles will increase, assuming that the average number of bicycles will increase from 1.5 to 2; 4) About the average unit price of lidar: Assuming that the lidar industry is gradually maturing, the unit price will drop to 250 US dollars. The forward 2030 market size is estimated as follows:
Annual market size = ∗ % ∗ ∗ = $100 million
3. Panoramic deconstruction: Optical components will take the lead in breaking through
3.1 Deconstruction: the industrial chain is fully solved, and the value of optical components accounts for outstanding proportion
From the perspective of the internal composition of the laser: the main components of lidar include the transmitting system, the receiving system, the scanning system and the signal processing system.
Lidar works by generating and emitting a beam of light pulse that hits an object and reflects it back, which is received by the receiver. The receiver is able to accurately measure the propagation time of a light pulse from its emission to its reflection back. According to the speed of light and the height of the laser, the laser scanning angle can obtain the three-digit coordinates of each ground spot, and then achieve three-dimensional modeling, providing high-resolution geometric images, distance images, speed images, etc.
From the perspective of the laser industry chain, the upstream of lidar is mainly optical components and electronic components, combined with the principle of lidar work classification, can be separated from the four parts of the transmission, detection, scanning and processing system components, the core components mainly include lasers, scanners and optical components, photodetectors and receiving chips. The downstream application fields of lidar are relatively rich, including early surveying and mapping, military to emerging unmanned driving, robotics and other fields.
From the perspective of the lidar BOM cost split, lasers and optical components are important components. According to automotive heart data, in velodyne's Puck VLP-16 16-line lidar, for example, the cost of lasers accounts for more than 30%, and optical components account for more than 10%. At the same time, according to SystemPlus data, the cost of the Fario Scala generation (rotary type) is mainly concentrated in the motherboard and laser, accounting for 45% and 23% of the total cost, respectively. The manufacturing cost of Livox (double wedge rotating prism type) is mainly in the lens module and protective cover, accounting for 54% and 16% of the cost respectively. Combined with the analysis of the above two schemes, we believe that lasers and optical components are an important part of the cost of lidar, of which the average value of optical components is expected to exceed 20%.
3.2 Optical components may become the fastest breakthrough link for domestic manufacturers
By combing through the key component suppliers in the upstream of lasers, we found that in the laser and various types of chips, although there is a layout of domestic manufacturers, the overall market is still in the hands of foreign manufacturers; and optical components, due to the relatively deep accumulation of domestic manufacturers' reserves and strong cost control capabilities, are expected to become a rapid breakthrough link in the process of industrial chain maturity.
1) Laser: In lidar, lasers are used as a light source to emit beams, and lasers of current lidar can be divided into semiconductor lasers and fiber lasers.
Semiconductor lasers, EEL is the current mainstream solution, the future or the trend of VCSEL evolution. EEL as a detection light source has the advantage of high luminous power density, but EEL lasers because their luminous surface is located on the side of the semiconductor wafer, the cutting process is complex, relying on the manual adjustment technology of the production line workers, but because of the long development time, it is currently the mainstream scheme in the industry. The VCSEL (Vertical Cavity Surface Emitting Laser) manufacturing process is compatible with side-emitting semiconductor lasers, without the need for manual individual modulation, and the cost of large-scale manufacturing is low, making it the next generation of semiconductor lasers.
Fiber lasers: Preferred solution for 1550nm lasers. The wavelength of the above semiconductor lasers is 905nm, and some lidar manufacturers choose 1550nm wavelength fiber lasers because the 1550nm laser will not be absorbed by the human eye, compared to the 905nm laser, the same power 1550nm laser eye safety is 40 times better. In addition, at the same human eye safety level, 1550 nm lidar can increase the detection distance to more than 300m (905nm lidar is generally difficult to exceed 200m). The difficulty with current fiber laser applications is their high cost.
At present, the main semiconductor laser manufacturers in the industry are still overseas, including foreign OSRAM (Osram), AMS (ams), Lumentum (Rumentum), etc.; there are Shenzhen Ruibo Optoelectronics Co., Ltd., Changzhou Zhonghui Core Optical Semiconductor Technology Co., Ltd., etc., and fiber laser manufacturers are mainly overseas Lumibird, Onna, Luminar and domestic Radium Intelligence.
2) Photodetector: It is the core device of the laser receiving system, which is used to realize the conversion of optical signal and electrical signal to each other.
The current mainstream scheme is a linear avalanche diode detector (APD) with a multi-channel transimpedance amplifier (TIA), and the SiPM single photon detector is the subsequent evolution direction. (SiPM is a photoelectric detection device that integrates hundreds of single-photon avalanche diodes.)
Photodetectors are currently mainly in the hands of foreign giants, such as foreign First Sensor, Hamamatsu (Hamamatsu), ON Semiconductor (ON Semiconductor), Sony (Sony), etc., but there are also some start-ups in China, such as Chengdu Core Integrated Technology Co., Ltd., Shenzhen Lingming Photonics Technology Co., Ltd., Nanjing Core Vision Microelectronics Technology Co., Ltd. and so on.
3) Optical components: the basis for the normal operation of the lidar transmission and reception system.
Lidar emission optical system: mainly composed of optical components such as lenses, reflective devices, and diffraction devices, including collimators, beam splitters, diffusion plates, etc. Among them, the collimator mirror is to use the principle of light refraction to focus the divergent light source through the lens into a directional light injection; the beam splitter can divide a beam of light into two or multiple beams of light; the diffuser is the use of the diffraction principle of light to convert the point light source into a scattered pattern.
The main role of the lidar receiving optical system is to collect the light energy reflected by the target as much as possible, and collect it into the photosensitive surface of the detector, which is mainly composed of lenses, beam splitters, filters, etc. The main role of the filter is to allow only the optical signal of the specific band to pass through.
The core part of lidar lies in the transmission and reception system, from the current architecture point of view, the essence of the transmission part is the laser system, from the perspective of the laser industry chain, the chip layer has been dominated by overseas manufacturers, although the domestic manufacturers have developed, but it is difficult to achieve rapid catch-up in a short period of time, on the contrary, more domestic manufacturers have entered the laser optical component part and achieved stable supply.
The core of the lidar receiving system lies in the photodetector system, and from the perspective of the APD+TIA model currently used in the mainstream, this part also presents a situation dominated by overseas chip manufacturers and supplied by domestic manufacturers of optical components.
The reason for the maturity of the domestic optical industry chain: the deep domestic optical research and development foundation. Combing the development of some companies in the above industrial chain, we can see: 1) The revenue scale of overseas manufacturers in the chip link is relatively leading domestic manufacturers, but its basic establishment time is before 2000, with a long period of accumulation, compared with most domestic chip companies established after 2000, the domestic relatively late start. 2) Optical part: the domestic has a high degree of maturity from the domestic deep research and development foundation, most of the domestic optical companies R & D rely on the Department of Optoelectronics of Zhejiang University, Xi'an Institute of Optics and Mechanics, Fujian Institute of Physical Structure and other scientific research institutions, and most of these institutions were established around 1960, with a long-term and deep research and development foundation, can output high-quality talents, accelerate the progress of the domestic optical industry chain.
4. Analysis of key companies of lidar optical components
4.1 Yongxin Optics: Lidar lens shipments have exceeded 10,000
In 2018, it has cooperated with lidar manufacturers, and in 2021, more than 10,000 lidar lenses will be shipped. Through the company's annual report, we found that the company has reached a cooperation with lidar manufacturer Quanergy as early as 2018 (considering that the company will be listed in 2018, or has already had related business cooperation before), lay out related businesses, and achieve small batch supply by 2021, which lasted for a total of 3 years. According to the company's announcement, the company's lidar lens shipments in 2021 will be 11,900 pieces, corresponding to a revenue scale of 3.2 million yuan (excluding the supply of other optical components of lidar components).
The extension from optical component providers to lidar oem is the next stage of breakthrough point. At present, the company's vehicle laser radar lenses and optical components are still in the stage of small batch verification. At present, with the actual progress of downstream customer business gradually advancing, the company has expanded the lidar customer group to rail transit and industrial fields, and is expected to expand its products from components to lidar oem in the future.
4.2 Torch Technology: Light source products have entered the mass production stage
Technological leadership: Torch Technology has the core capabilities of vehicle-grade automotive applications (lidar). The company has core capabilities such as vehicle-grade laser radar launch module design, development, reliability verification, and mass production, and has accumulated a lot of reliability design and verification experience through the first mass production project.
A number of downstream customers have established cooperative relations, and existing products have entered the mass production stage. At present, Juguang Technology has reached cooperation intentions or established cooperation projects with many well-known enterprises in North America, Europe and Asia, including velodyne LiDAR, Luminar, a well-known unmanned driving company under ford in the United States, including The LiDAR linear light source products have established new product development projects with a number of customers, and the company has begun to develop high-peak power fixed lidar surface light sources since 2016 and has signed a batch supply contract with the German continental group. It has now entered the mass production phase.
4.3 Optical Library Technology: Fiber laser passive devices or extensions to lidar
The company has been deeply involved in the fiber laser industry for more than 20 years. Founded in 2000, Optical Library Technology was positioned in the fiber laser market at the beginning of its establishment, and the industry has been deeply cultivated for more than 20 years. At present, the company provides a variety of passive devices (isolators, fiber grating, etc.) in the fiber laser industry market share leading.
The evolution of lidar technology may bring about the horizontal expansion of the company's optical device application market. According to the above analysis, the choice of 1550nm wavelength lidar is one of the current development routes of lidar, and the light source of this type of lidar is the fiber laser, so the company's isolators, beam combiners, couplers and other optical fiber device products can be directly applied to the field of unmanned lidar, if the 1550nm lidar enters the mass production stage in the future, the company's optical device products are expected to harvest a new market.
4.4 Sunny Optics: a leading manufacturer of automotive optics
The experience in optical development and on-board lenses provides a good foundation. As the world's leading optical manufacturer, the company has long focused on optical products since its establishment in 1984, with more than 30 years of optical development experience and more than 10 years of experience in automotive lenses. In the in-vehicle camera lens market, Sunny Optics' lens shipments have ranked first in the world. Years of experience have laid a good foundation for the company to open up new application markets.
The company offers optical solutions for a variety of lidar routes and has partnered with LeddarTech. The current company provides optical solutions that cover a wide range of lidar routes including mechanical, MEMS, Flash, and OPA. In terms of cooperation, the company has partnered with LeddarTech to provide an optical system that includes the design and manufacture of automotive-grade optics, which will include transmit and receiver optics, consisting of select automotive-grade optics, subject to automotive certification, testing and cost optimization.
(This article is for informational purposes only and does not represent any of our investment advice.) For usage information, see the original report. ）
Featured report source: [Future Think Tank]. Future Think Tank - Official website