Zemax
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Zemax is a commercial optical design software designed and written by Ken Moore and has been in development since the 1980s. Zemax has two basic operational modes, sequential ray tracing and non-sequential mode, which can perform multi-bounce raytracing of general objects placed in 3D. Zemax has a powerful suite of optimization tools, as well as extensive tolerancing capability. Current versions can now perform physical optics propagation of wavefronts, used to model phenomena such as interference, holography and near/far field diffraction.
Competitors include OSLO and Code V.