While the concept is valid,the inventor will find that real world application may be less so. However if made from suitably hard and durable materials it could have its purpose in certain areas however the use of cylindrical pins as the means of closing the aperture segments are the first weak points of the design.
the use of elongated crescent shaped pins would afford a much stronger and more precise method of controlling the relative positions of the segments.
The bulkiness could be greatly reduced much like as the ratcheting box end wrenches evolved from their first copies to the present models

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