Laser Tracker Market by Offering (Hardware, Software, Services), Application (Quality Control and Inspection, Alignment, Reverse Engineering, Calibration), Industry (Automotive, Aerospace and Defense, Manufacturing, Energy and Power, Architecture and Construction, Transportation, Others): Global Market Size Estimates and Forecast (2022–2030)

Code: BMIRE00025910 | Pages: 100 | Industry: Electronics and Semiconductor | Date: Sep 2022 | Type: Global

The market crossed US$ 630 Million mark in 2022 and is expected to hit US$ 1,035 Million by 2030, recording a CAGR of 6.4% during the forecast period.

Laser Tracker Market has been significantly growing due to its high adoption in aerospace and defense industry

The aerospace and defense industry is one of the industries that adopted laser tracker technologies early, and has become one of the largest end user industries of laser trackers. The laser trackers validate the individual component as well as dimensional compliance of sub-assemblies. It is also used in fixing critical assemblies including fuselage sections and aiding complex 3D alignment.

Within the report, the laser tracker market is segmented into offering, application, industry and geography. By offering, the market is segmented into hardware, software and services. On the basis of application, the market is segmented into quality control and inspection, alignment, reverse engineering, and calibration.  Based on industry, the market is segmented into automotive, aerospace and defense, manufacturing, energy and power, architecture and construction, transportation, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Laser tracker is advanced technology that can make precision possible

Laser trackers can be managed by just one person as it runs with computer. Laser trackers are cheaper alternative than traditional methods and provide accurate information. These trackers can also track a moving machinery without requiring human interference. It can continuously measure points, due to which the data can be collected on critical areas such as thermal shrinkage, thermal growth and during adjustments.

Rising adoption in various industries is one of the major factors accelerating the market growth.

The industries for laser tracker are the automotive, aerospace and defense, manufacturing, energy and power, architecture and construction, transportation, and others. Within these industries, automotive industry is one such industry, wherein the use of laser tracker is increasing due to its capability of quick collection of 3D measurement. The adoption of laser tracker is also increased in recent years by architecture and construction industry. Thus, architecture and construction industry are also encouraging the use of laser tracker technology.

Get more information on this report :

Recent strategic developments in laser tracker market

The laser tracker market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2022, Hexagon’s Manufacturing Intelligence segment launched Leica Absolute Tracker AT500 and accompanying B-Probe plus, a 3D portable laser tracker system.
  • In April 2022, Hexagon’s Manufacturing Intelligence segment launched latest solution for the projects of automated inspection integration based on 6DoF laser tracker technology.
  • In November 2020, FARO Technologies, Inc., launched 6 Degrees of Freedom (6DoF), a next generation vantage laser tracker.

The laser tracker market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Automated Precision, Inc (API); Brunson Instrument Company; FARO Technologies, Inc.; Hexagon AB; Hubbs Machine and Manufacturing Inc.; KEYENCE CORPORATION; On-Trak Photonics Inc.; PLX Inc.; SGS SA; VMT GmbH are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Laser tracker manufactures
  • Software developers
  • Semiconductor component suppliers
  • Laser tracker distributors and sales firms
  • End users
  • Associations, Agencies, and Regulatory Bodies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Component:
    • Hardware
    • Software
    • Services
  • Application
    • Quality Control and Inspection
    • Alignment
    • Reverse Engineering
    • Calibration
  • Industry
    • Automotive
    • Aerospace and Defense
    • Manufacturing
    • Energy and Power
    • Architecture and Construction
    • Transportation
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Automated Precision, Inc (API)
    • Brunson Instrument Company
    • FARO Technologies, Inc.
    • Hexagon AB
    • KEYENCE CORPORATION
  • Automated Precision, Inc (API)
  • Brunson Instrument Company
  • FARO Technologies, Inc.
  • Hexagon AB
  • KEYENCE CORPORATION
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