It represents the mechanism of a mechanical watch controlling the flow of energy out of the mainspring to drive the watch's hands at a constant pace. It cooperates well with the balance wheel in driving time into real precise intervals. The escapement is the "heartbeat" of the watch, in which energy flows through it to keep the ticking going smoothly and smoothly.
There are many types of escapements with different designs and levels of precision. Still, the value attached to them lies in how they can maintain reliable timekeeping in mechanical watches.