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Ultrafast Lasers Market to Reach US$ 3,048.68 Million by 2028

02-08-2023 07:45 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

Ultrafast Lasers Market

Ultrafast Lasers Market

According to our latest market study on "Ultrafast Lasers Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Pulse Duration, and Application," the market is expected to grow from US$ 1,467.50 million in 2021 to US$ 3,048.68 million by 2028; it is estimated to grow at a CAGR of 11.0% from 2021 to 2028.

Ultrafast laser is finding its application in major areas such as medical devices, and metal processing and defense. For instance, the US invests a significantly larger share of its tax revenue in defense than any other nation across the world. It is expected that laser technology will become an important factor of this effort owing to its applications in communications, directed energy, and remote sensing, as well as in the and analysis of materials in challenging environments. Laser technology has become a key component of the manufacturing process. The laser technology is helpful in tasks such as heating for hardening, melting for welding and cladding, and removing materials for drilling and cutting.

The laser technology is also used in the medical industry for fabricating high-quality surgical stents. Additionally, many kinds of laser surgery are available that utilize ultrafast high-intensity laser processing of tissue. One of them is Laser-Assisted In-Situ Keratomileusis (LASIK), which uses ultrafast laser scalpels to make notches in the eyeball as part of a laser sculpting protocol to improve eyesight. High power (PetaWatt) laser is being used in mission of the Stockpile Stewardship Program (SSP) of the US Department of Energy. SSP is developed for testing and maintenance of nuclear weapon. The high-intensity laser in SSP is used to deliver sharp penetrating high-energy X-rays for radiography of high energy density matter. Further, high-intensity short-pulse lasers can be used to create radiation (both photon and particle) that can be used to cross-examine systems and identify the presence of nuclear or chemical materials of concerns for proliferation or homeland security.

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Top Key Players : Amplitude Laser; Coherent, Inc.; NKT Photonics A/S; Spark Lasers; Fluence; Wuhan Huaray Precision Laser Co.,Ltd.; Jenoptik AG; KMLabs; Laser Quantum; and Clark-MXR, Inc. are among the major companies operating in the ultrafast lasers market.

The ultrafast lasers market is segmented on the bases of type, pulse duration, application, and geography. Based on type, the market is segmented into diode-pumped lasers, mode-locked diode lasers, titanium-sapphire lasers, and fiber lasers. In 2020, the fiber lasers segment accounted for the largest market share. In terms of pulse duration, the market is bifurcated into picosecond and femtosecond. In 2020, the femtosecond segment accounted for a larger share in the market. Based on application, the market is segmented into consumer electronics, industrial, automotive, and medical & scientific. In 2020, the industrial segment accounted for the largest market share.

Geographically, the global ultrafast lasers market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, APAC accounted for the significant share in the market.

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Ultrafast Lasers Market Insights
Technological Innovation and Implementation of Ultrafast Lasers in Diverse Industry Applications
Various industries are surely hit by the COVID-19 pandemic; however, there will be an expected rebounding of the economy once the situation normalizes. For instance, in automotive industry, there will be a significant shift toward electric vehicles (EVs) that will, in turn, create the need for ultrafast laser systems. Similar trend can be witnessed in the consumer electronics and medical sectors. Ultrafast laser has various advantages that attract its adoption in various industries. Ultrashort pulse (USP) lasers for accurate micromachining can reduce or avoid unwanted thermal effects, which limit feature resolution, edge quality, and/or the overall product functionality. Laser manufacturers have developed a new generation of femtosecond (fs) lasers for industrial users based on new material-ytterbium doped fiber. This material has the capability of much higher powers than previous femtosecond lasers and is usually wrapped in a master oscillator/power amplifier (MOPA) internal configuration. Further, there has also been recent development in picosecond (Ps) lasers for industrial application. Industries are showing interest in using picosecond laser for lower power applications such as drilling small holes, marking in automotive, and manufacturing medical and semiconductor devices. This has created a significant demand for Ps lasers. The lower cost of ownership and pulse-to-pulse stability are a few benefits of Ps lasers. One of these newly developed Ps laser is Rapid NX series from Coherent Inc., and it offers many watts of near infrared output in an efficient form. Further, developments have been observed in high power Ps lasers such as HyperRapid NX series (Coherent Inc.) that has the capacity to deliver ~100 watts in the near infrared spectrum.

As various industry verticals continue to develop small and more complex products and solutions, manufacturers are turning toward laser machining and processes. These low cost, highly effective lasers are suitable for marking and engraving a variety of materials. Ultrafast lasers have the capability to process parts at lower temperature without creating heat affected zone (HAZ). The laser allows engineers to work with more heat sensitive material, thereby expanding engineer's horizon.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers and Goods, Chemicals and Materials.

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