Global Laser Tracker Market (2022 To 2027) - Growing Trend Of Outsourcing 3D Metrology Services Presents Opportunities'

DUBLIN, Sept. 28, 2022 /PRNewswire/ -- The report has been added to ResearchAndMarkets.com's offering.

The laser tracker market is estimated to grow from USD 636 million in 2022 to reach USD 866 million by 2027; it is expected to grow at a CAGR of 6.4% from 2022 to 2027.

The growth of the laser tracker market can be attributed to greater reliance of manufacturing firms on 3D data to assess product quality and performance.

The market for laser tracker hardware is expected to hold the largest share from 2022 to 2027

The increasing adoption of laser trackers in the aerospace & defense, automotive, architecture and construction, energy & power industries drive the growth of the hardware segment of the laser tracker market. Companies such as Hexagon, FARO, and, API are offering a variety of laser trackers for these industries. Hexagon launched the Leica Absolute Tracker AT500 that automatically re-establishes interrupted lines of sight within a wide field of view without any user interaction. It offers reflector measurement up to 160 meters from the tracker to simplified 6DoF probing functionality.

Laser tracker market for general manufacturing is expected to grow at the second highest CAGR during the forecast period

Laser trackers integrate data into production processes, enabling smarter decision-making, better quality control, increased throughput or production rate, and reduced cycle times, thereby completely supporting the businesses involved in general manufacturing and production of large-scale precision machining tools. VMT, On-Trak Photonics, Hubbs Machine & Manufacturing, API, and Hexagon AB are major companies offering laser tracking solutions for the manufacturing industry. In April 2022, Hexagon AB launched a new wireless laser tracker automation system, especially designed for large-scale inspection tasks performed by manufacturing companies.

The laser tracker market in Asia Pacific to hold the largest share by 2027

The market in Asia Pacific is gaining opportunities from various industries, such as automotive, aerospace & defense, general manufacturing, and energy & power, wherein laser trackers are used for quality control and inspection, calibration, and alignment purposes. Advancements toward smart factory in countries such as China and India is another reason for the growth of the laser tracker market in this region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights 4.1 Attractive Opportunities for Market Players4.2 Market, by Offering4.3 Market, by Application4.4 Market in Asia-Pacific, by Country and Industry4.5 Geographic Analysis of Market

5 Market Overview 5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 High Accuracy, Precision, and Portability of Laser Trackers5.2.1.2 Increased Adoption of Robotics in Developed Countries5.2.1.3 Significant R&D Expenditure for Launching 3D Metrology Products5.2.1.4 Greater Reliance of Manufacturing Firms on 3D Data to Assess Product Quality and Performance5.2.2 Restraints5.2.2.1 Availability of Substitutes, Such as Laser Radars, to Carry Out Inspection and Calibration Tasks5.2.3 Opportunities5.2.3.1 Growing Trend of Outsourcing 3D Metrology Services5.2.3.2 Increasing Adoption of Cloud Computing5.2.4 Challenges5.2.4.1 Addressing Alignment Errors in Laser Trackers5.3 Value Chain Analysis5.4 Laser Tracker Ecosystem5.5 Technology Analysis5.6 Patent Analysis5.6.1 List of Major Patents5.7 Case Study Analysis5.7.1 API Helps Tacquet Industries to Machine 7 M Diameter Turbine Wheel Casing Accurately5.7.2 Acquip Helps in Alignment Measurements and Adjustments of Guide Rails Using Faro Vantage Laser Tracker5.7.3 API Services Help Amtdc Achieve Highest Accuracy in Industrial Robots5.7.4 API Services Help Flying-S Unlock Full Potential of Its Machine Tools5.7.5 Pcm Innovation Achieves Agile Manufacturing in Aerospace Inspection with Faro Software and Faro Laser Tracker5.7.6 BMW Group Uses Hexagon's Laser Trackers to Optimize Automotive Manufacturing Process5.8 Trends and Disruptions Impacting Customers5.9 Trade Analysis5.10 Porter's Five Forces Analysis5.10.1 Intensity of Competitive Rivalry5.10.2 Bargaining Power of Suppliers5.10.3 Bargaining Power of Buyers5.10.4 Threat of Substitutes5.10.5 Threat of New Entrants5.11 Tariff Analysis5.12 Standards and Regulations5.12.1 Regulatory Bodies, Government Agencies, and Other Organizations5.12.2 Iso and IEC Standards5.12.3 Classification of Laser Standards5.12.4 Ingress Protection (IP) Ratings5.12.5 Restriction of Hazardous Substances (Rohs) and Waste Electrical and Electronic Equipment (WEEE)5.12.6 Registration, Evaluation, Authorisation, and Restriction of Chemicals (Reach)5.12.7 General Data Protection Regulation (Gdpr)5.12.8 Import-Export Laws5.13 Key Stakeholders and Buying Criteria5.13.1 Key Stakeholders in Buying Process5.13.2 Buying Criteria5.14 Pricing Analysis5.14.1 Asp Analysis of Laser Trackers Offered by Market Players for Top 3 Industries5.15 Key Conferences and Events, 2022-2023

6 Laser Tracker Market, by Offering 6.1 Introduction6.2 Hardware6.3 Software6.3.1 Helps Acquire and Process Data Collected from Laser Trackers6.4 Services6.4.1 After-Sales Services6.4.1.1 Need for System Upgrades and Annual Maintenance Drives Demand for After-Sales Services6.4.2 Measurement Services6.4.2.1 Include Inspection and Alignment, Reverse Engineering, Machine Tool Calibration, and Laser Tracker Calibration Services6.4.3 Storage-As-A-Service6.4.3.1 Focus of Companies on Adopting Cost-Reducing Measures to Boost Market Growth

7 Laser Tracker Market, by Application 7.1 Introduction7.2 Quality Control & Inspection7.2.1 Automotive Industry Adopts Laser Trackers for Quick and Precise Measurements7.3 Alignment7.3.1 Automotive and Aerospace Industries Use Laser Trackers to Determine Optical Coordinates7.4 Reverse Engineering7.4.1 Laser Trackers are Used to Generate Digital Modeling of Components in Precision Manufacturing7.5 Calibration7.5.1 Laser Trackers are Adopted to Calibrate Industrial Robots

8 Laser Tracker Market, by Industry 8.1 Introduction8.2 Automotive8.2.1 Inspection, Alignment, and Calibration Tasks in Automotive Industry to Create Need for Laser Trackers8.3 Aerospace & Defense8.3.1 Reverse Engineering, Shaft Alignment, and 3D Measurement of Aircraft Components Boost Market Growth8.4 Energy & Power8.4.1 Precise and Accurate Measurement, Alignment, and Inspection of Turbines, Bearings, and Generators to Propel Market Growth8.5 General Manufacturing8.5.1 High Demand from Manufacturing Firms to Reduce Operator Interaction in Quality Control Processes8.6 Architecture and Construction8.6.1 Real-Time Inspection and Alignment Requirements in Construction Industry to Create Growth Opportunities8.7 Transportation8.7.1 Flexibility, Precision, and Accuracy of Laser Trackers Encourage Adoption in Alignment Applications8.8 Others

9 Laser Tracker Market, by Region

10 Competitive Landscape 10.1 Overview10.2 Key Player Strategies/Right to Win10.3 Five-Year Company Revenue Analysis10.4 Market Share Analysis, 202110.5 Company Evaluation Quadrant10.5.1 Stars10.5.2 Emerging Leaders10.5.3 Pervasive Players10.5.4 Participants10.6 Startup/SME Evaluation Quadrant10.6.1 Progressive Companies10.6.2 Responsive Companies10.6.3 Dynamic Companies10.6.4 Starting Blocks10.7 Market: Company Product Footprint10.8 Market: Competitive Benchmarking10.9 Competitive Scenarios and Trends

11 Company Profiles 11.1 Key Players11.1.1 Hexagon Ab11.1.2 Faro Technologies, Inc.11.1.3 Automated Precision, Inc.11.1.4 Sgs11.1.5 Hubbs Machine & Manufacturing Inc.11.1.6 Mitutoyo Corporation11.1.7 Vmt GmbH11.1.8 On-Trak Photonics, Inc.11.1.9 Chotest Technology Inc.11.1.10 Innovmetric Software Inc.11.2 Other Key Players11.2.1 3D Systems, Inc.11.2.2 Verisurf Software, Inc.11.2.3 Metrologic Group11.2.4 Variation Reduction Solutions, Inc.11.2.5 Brunson Instrument Company11.2.6 Mactech Onsite Field Machining Solutions11.2.7 East Coast Metrology, LLC11.2.8 Advanced Dimensional Solutions Pty Ltd.11.2.9 Hiwe Sqs11.2.10 Diverse Dimensions11.2.11 Manchester Metrology Limited11.2.12 Plx Inc.11.2.13 Oasis Alignment Services11.2.14 3D Engineering Solutions11.2.15 Schaeffer Precision Alignment, Inc.11.2.16 Leistertech11.2.17 Aurum 3D11.2.18 Nebula3D Services

12 Appendix

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