Military & defense End User Segment Triggers the Growth of Drilling Machine Market 2018 -2025

Global drilling machine market accounted for $16.54 Billion in 2017, and is expected to reach $28.76 Billion by 2025, growing at a CAGR of 7.1% from 2018 to 2025. In 2017, Asia-Pacific dominated the global market, in terms of revenue, and is expected to grow faster compared to North America.

Among industrial applications, the military & defense segment would grow at the highest CAGR of 9.8% from 2018 to 2025. The segment would a surge in the use of drilling machines for manufacturing guns, tanks, submarines, and other equipment. However, the heavy equipment segment accounted for the largest market share of 26.9% in 2017 and would maintain its lead through 2025. This is attributed to heavy requirement for deep hole, multi spindle, and gang drilling machines, especially in China, India, and Russia. The report also analyzes applications such as aerospace, automotive, energy industry, oil and gas, among others.

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Drilling machine is used to enlarge or drill a cylindrical hole in a workpiece. It is composed of four major components the head, table, column, and base. The motor is attached on the head and spindle is fixed within the quill, which is moved by either manual or automatic feed. The table is mounted on the column, and is used to support the workpiece. The cast iron base supports the entire structure. These machines are basically used for gun drilling, trepanning, BTA drilling, ejector drilling, counterboring, and pull boring.

Increase in use of fabricated metal products coupled with advancements in heavy equipment and large-scale industrial automation drives the growth in the industry. However, fluctuating prices of raw materials and dearth of skilled workforce in the manufacturing sector hamper the growth of the market.

The deep hole drilling machine segment secured the highest share in the drilling machine market in 2017. The multiple spindle drilling machine industry is expected to grow at a highest CAGR during the forecast period. In terms application industries, heavy equipment sector is expected to contribute the highest market share in the coming years, as this industry needs to displace heavy vehicle and material handling equipment parts. Moreover, increase in emphasis on military and defense sector is expected to provide lucrative growth opportunities to small players in the developing economies.

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Asia-Pacific captured more than half of the overall market share in 2017 and would dominate through 2025. The segment is projected to register the fastest CAGR of 8.0% from 2018 to 2025 because the region has the highest number of manufacturing plants where adoption of drilling machines is substantial. Moreover, China, being the world's leading manufacturing hub for various metal, plastics articles, and machines, contributes significantly to the growth of the sector.

Key Findings of the Drilling Machine Market:
o In 2017, the deep hole drilling machine dominated the global drilling machine market, in terms of revenue, and is projected to grow significantly during the forecast period.
o The heavy equipment segment is projected to dominate the industry application segment during the forecast period.
o Asia-Pacific is projected to register the highest market share in the global drilling machine market.

The key market players analyzed in the report include DATRON AG, DMG MORI, Dalian Machine Tool Group Corporation, SMTCL, Ernst Lenz Maschinenbau, Fehlmann AG, Cameron Micro Drill Presses, Gate Machinery International, Hsin Geeli Hardware Enterprise, and Alpen-Maykestag GmbH. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.

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