TRW Automotive Holdings Corp. ( TRW - Analyst Report ) showcased its advanced video camera technology 'S-CAM' at an event in Locke Township, Michigan. At the event, the company also announced its plans to invest in the development of a third-generation camera, which will alert drivers about collisions and help to comply with the lane system in North America.

The next-generation camera will involve the upgrade of the company’s S-Cam camera sensor, featuring headlight control, lane detection, traffic sign recognition and vehicle detection and classification for automatic emergency braking. The improved camera technology will be emphasizing on pedestrian detection functionality to conform to the safety target in Europe and the U.S.

According to the data provided by 2010 National Highway Traffic Safety Administration (NHTSA), 53% of the road casualties occur as vehicles begins to depart their lane. The Insurance Institute for Highway Safety (IIHS) believes that 7,500 lives in the U.S. could be saved through lane departure warning system.

The video camera will assist drivers by sensing a wide range of relevant objects and will be able to reduce speed with the help of automatic emergency braking. Thus, through this camera, the company will be able to provide a wide range of safety features in a single sensor and is expected to be much sought after by automakers across the world.

The new camera will be developed by the partnership between TRW and Mobileye, who earlier designed the S-CAM. The S-CAM technology is available in the European and Asian markets and will be available in U.S. by next year.

Headquartered in Michigan, U.S., TRW Automotive is one of the world’s largest manufacturers of advanced technology products and services for the automotive markets. The company supplies to more than 40 major vehicle manufacturers and 250 nameplate producers.

Together with continuous research and development, the company is well positioned to benefit from the changing demands of both established and emerging markets for advanced and affordable safety solutions. Its major customers include Ford Motor Co. ( F - Analyst Report ) , General Motors Company ( GM - Analyst Report ) and Volkswagen AG ( VLKAY ) .

Currently, TRW Automotive retains a Zacks #2 Rank, which translates into a short-term Buy rating. We have a long-term (more than 6 months) Neutral recommendation on the stock.