Growth at a CAGR of 24.96% in the Ultrafast Lasers Market during the forecast period (2018 - 2023)| Dominant Players - AMPLITUDE SYSTEMES, COHERENT INC., TRUMPF GROUP, IPG PHOTONICS CORPORATION, EKSPLA, LASER QUANTUM LTD., among others

Market Analysis:

Europe is the Manufacturing Hub for Laser Material Processing Equipment
Europe plays a major role in both, the manufacture of laser materials processing equipment, and its use. A number of major global companies either are based out of Europe or have major facilities in Europe. Europe currently has a strong position in the global lasers industry, which is based on its historic leading position in the industry, and its continuing strong industrial and research base.

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The automotive industry has been a driving force behind the innovations in high-powered laser applications for past two decades. Ultrafast lasers have potential to satisfy many requirements in the automotive industry, including quality, product miniaturization, high precision, smaller lots, and applicability to diverse materials, and cost-effectiveness. Automobile manufacturers are turning towards technological innovations in lasers as one of the solutions, to squeeze more mileage out of existing fossil fuel engine designs. The Ultrafast lasers are increasingly used to perform micro-structuring in the automotive industry. One such technique is making an array of small pits on the surface of a part.

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Market Segments:
Ultrafast Lasers Market is segmented by:
1. Laser Type: Diode-pumped lasers, Mode-locked diode lasers, Titanium-sapphire lasers, Fiber Lasers
2. End-User Industry Verticals: Metal Processing, Automotive, Healthcare and Life Sciences, Education, Aerospace and Aviation, Others
3. Pulse Duration: Picosecond, Femtosecond
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• January 2018 - Femtosecond Lasers Extend Glass cleaving to Mixed Materials. Engineers in Coherent’s applications laboratory performed tests of this laser for glass filamentation.
• August 2017 - In a collaborative effort involving Coherent scientists & engineers that developed & optimized a custom Tm3+ laser, and the research team of professor Thomas Milner in the Biomedical Engineering Department at the University of Texas, Austin, surgical application of thulium based lasers approached viability.

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