Omega produces roughly half a million watches every year. As one of the most popular watch brands in the world, Omega accounts for 8.8% of total annual sales within the overall market.

The co-axial escapement was developed by George Daniels in 1974 in an effort to reduce friction between the pallet fork and the escapement wheel, and to eliminate wasted motion within the escapement assembly. Daniels was able to fix these issues by stacking two balance wheels using a common axis. One of the wheels is used for locking and the other for unlocking. By separating the functions, the co-axial escapement reduces friction and unnecessary motion within the system and as a result, watches equipped with the technology have the ability to function more accurately and also require less frequent servicing. Omega adopted the Co-axial technology in 1999 with the introduction of their caliber 2500.

NASA began the search for a dependable chronograph appropriate for space travel shortly after President Eisenhower launched the Apollo Program. Rolex, Hamilton, Longines-Wittnauer, Bulova, Elgin, Omega, Benrus, Mido, Gruen, and Lucien Picard were among the companies who made prototypes for NASA's watch testing. NASA put these prototypes through a battery of tests, including extreme temperature fluctuations from minus 260 degrees to over 260 degrees Fahrenheit, gravity simulations, humidity tests, and an acceleration test to guarantee shock tolerance. After all of the rigorous testing, the only watch that remained functional was the Omega Speedmaster. NASA certified the Omega Speedmaster for both space flight and extravehicular travel in March 1965 and it remains NASA's official timepiece to this day.

On July 20th, 1969, astronaut Buzz Aldrin stepped out of the Apollo 11 lunar module and touched down on the moon's surface. Strapped to his wrist, was an Omega Speedmaster Professional, reference ST105.021, with a Lemania-based caliber 321 inside. This reference is a more durable version of the Omega prototype that was used in the NASA testing. A blockier 42mm case with crown guards and bigger chronograph pushers was part of the redesign. The bigger pushers give greater grip for the astronaut while outfitted in full equipment, and the blockier housing adds extra shock and acceleration protection. These modest adjustments secured the modern-day Speedmaster's appearance, which we have grown to know and appreciate. Unfortunately, in the 1970s, Buzz Aldrin's Speedy was stolen while in transit from NASA headquarters to the Smithsonian Museum where it was set to be displayed for the world to admire.

In 1983, the Swiss watch group SSIH, which at the time included Omega, Tissot, and Lemania, merged with the watch conglomerate ASUAG, to create what is now known as the SWATCH Group. Over the years, the SWATCH Group has built up a diverse portfolio of 18 watch brands ranging in both quality and price. Omega occupies a unique space in the “upper-mid-tier” of the portfolio’s hierarchy, and sits alongside brands such as Blancpain, Harry Winston, Glashutte Original and Jaquet Droz. Omega is widely regarded as the second most popular watch brand in the World.