Faced with measurement conditions such as high-temperature forging, strict prohibition of surface contamination, and toxic environments, using the projection point of an optical target projector (referred to as an "optical projector") as a photogrammetric target has become a necessary method of high-precision industrial photogrammetry. In connection with the current industrial demand, we have analyzed the principles of optical projectors and introduced their optical characteristics and advantages in the field of industrial photogrammetry. On this basis, a series of tests such as brightness, roundness, and so on were conducted to determine the basic properties of the optical projector. A set of performance test methods including inner coincidence accuracy and outer coincidence accuracy were proposed; the tests included industrial photogrammetry system measurement repeatability, surface measurement precision, and a comparison test with laser tracker. The test conditions used optical projection points as the photogrammetry targets. The test results showed that the coordinate measurement repeatability of the industrial photogrammetry system is 0.010 mm, and the surface measurement precision is 0.007 mm under the condition of a single optical projector station, with little difference between the results under the condition of pasting retro-reflective targets. In the process of the comparison test with laser tracker, the image quality of the black measurement object obtained is obviously inferior to other surfaces, so the analysis of the point projector is greatly affected by the color of the measured object and other conditions, which provides a reference for the measurement object and application range of the industrial photogrammetric system based on optical targets. The results demonstrate the applicability and reliability of using the optical projection point of an optical projector as target points for photogrammetry.