The co-axial escapement was invented by world famous horologist George Daniels in 1999 and was considered to be a major advance in watchmaking resulting in the virtual elimination of the sliding friction of the lever escapement. Lubrication of the pallets thus becomes unnecessary and so eliminates one of the disadvantages of the traditional lever escapement. The system was first commercialized in the year of its invention by Omega. The term co-axial simply means having a common axis.

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