Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Ultrafast Lasers market. Market segmentation includes by Laser Type (Fiber Lasers; Diode-Pumped Lasers; Mode-Locked Diode Lasers; Titanium-Sapphire Lasers) Application (Bio-Imaging; Micromachining; Medical; Scientific Research).
Since its introduction in 1965, lasers have experienced significant transformation and transformed end-use applications in the manufacturing industry. In addition, access to chirped pulse amplification technique for lasers during the mid-1980s enabled high-power ultrafast lasers to gain huge popularity with the potential to change several manufacturing applications. The increasing use of nanotechnology for producing machines and products at small scale along with applications of material sciences to develop novel allows are likely to accentuate the significance of lasers in the coming years. Lasers are poised to benefit from ongoing digitalization and shift of the manufacturing industry towards Industry 4.0. These trends are providing new opportunities for emerging technologies such as smart lasers and artificial intelligence. A well-known fact by now, the pandemic has had and still continues to have a considerable impact on world economy and all industries. Governments worldwide have been forced to choke off the economy via harsh social distancing and stay-at-home measures. In the early part of the pandemic widespread travel restrictions and people movement restrictions were imposed and countries closed their borders to prevent the spread of the infection. With transportation both of people and cargo coming to a virtual halt, travel, tourism and airlines industries were the first to crumble, fall and bite the dust. With thousands of airplanes grounded worldwide, 34,000 airline companies are on the brink of collapse. Currently, 11 months into the pandemic over 16,000 aircraft continue to remain grounded. The severity of the crisis can be put into perspective by the fact that airports are running out of space for parking grounded flights and the current focus is shed on hunting for safe spaces to park airplanes.
The aerospace industry is heading for a devastating year in 2020, and estimated to register notable losses of $83.3 billion due to COVID-19 pandemic. Total revenues for the industry are projected to fall from $830 billion to $418 billion over 2019-2020. Disruptions in transportation also brought down global trade. Global trade which was already slowing down in 2019 due to trade tensions between U.S. & China is now facing additional woes of pandemic restrictions, recession & falling economic activity. Global merchandize trade is expected to decline by over 28% for the year 2020. With global supply chains disrupted, transport of petroleum products, coal, chemicals, minerals and metals etc. stands massively impacted. Mandatory social distancing norms and closure of offices and workspaces and worksites has sent shockwaves through the manufacturing industry which still continues to struggle with the new normal and prescribed worker density. Unlike the IT services industry which migrated over 80% of its workforce to work-from-home (WFH) models overnight in an epic display of agility and knee jerk accelerate adoption of digital technologies, the manufacturing industry which needs people on the plant floor remains severely impacted. Against this backdrop, market is expected to remain impacted for the year 2020.
Interestingly, collaboration between health, science, engineering and IT technologies has never been more successful than it is now. The COVID-19 pandemic has unleashed the spirit of collaboration among researchers and technologies spanning multiple and diverse fields of science, medicine, engineering and IT. The latest to join the battle against COVID-19 is industrial laser material processing technology. The world is tapping into laser technologies to find quick and effective solutions to the challenges doled out by the pandemic. In China, the country were the novel coronavirus emerged in late 2019, Han's Laser Technology Industry Group Co., Ltd and Wuhan Huagong Laser Engineering Co., Ltd integrated laser capabilities into manufacturing face mask and shield-making machines. Another innovation in this space is laser-cut face shields which provide unrivalled safety and protection against the COVID-19 virus. Manufactured from food-grade PET plastic, the shields are touted to protect the eye area against airborne bacteria, infections, and viruses. Coherent E-150 CO2 lasers are being used to cut face shield masks from 5-liter PET bottles in as little time as five seconds. Laser technology has therefore been effectively used to manufacture face shields from environment friendly materials in a rapid automated manner to meet surging demand for PPE. A key benefit of laser technology being tapped is more-productive processing of PPE products. Selective laser sintering technology (SLS) is finding invaluable use in this regard. As the world faces the unprecedented challenge to produce thousands of PPE face masks to meet growing demand from healthcare and first-responder community, lasers are rising to meet and beat the COVID-19 challenge. SLS technology helps enable greater productivity and production throughput by allowing hundreds of parts to be produced in a single build, thereby accelerating both time-to-market and volume of output.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 478. Among this pool, 96 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 19 unique participations, a total of 9 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Key Competitors Covered in the Report -
IPG Photonics Corporation
DPSS Lasers, Inc.
IMRA America, Inc.
Lumentum Operations LLC
Epilog Laser, Inc.
NKT Photonics A/S
Trumpf Laser GmbH + Co. KG
Segments Covered in the Report -
Laser Type (Fiber Lasers, Diode-Pumped Lasers, Mode-Locked Diode Lasers, Titanium-Sapphire Lasers)
Application (Bio-Imaging, Micromachining, Medical, Scientific Research)
Geographies Analyzed in the Report -
Rest of Europe
Rest of World.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.