Asia Pacific Laser Tracker Market Size, Share & Industry Trends Analysis Report By Offering, By Application (Quality Control & Inspection, Alignment, Reverse Engineering, and Calibration), By Industry, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Laser Tracker Market would witness market growth of 7.5% CAGR during the forecast period (2022-2028).
The vertical and horizontal two-axis rotary encoders provide the distance and angle data, which the laser tracker uses to determine the centre coordinates of the retroreflector (SMR). The horizontal & vertical rotation of the laser tracker body allows it to follow the laser light. Since the retroreflector is shaped like a real sphere, light always reflects off of its centre, allowing for the measurement of the reflector's centre coordinates.
An arm-type CMM has a constrained measuring range, and three-dimensional measurements & accuracy can be challenging to achieve when using a hand tool like a caliper or a tape measure. These situations call for the use of laser trackers. Due to their portability, laser trackers are most frequently used in the aerospace sector for the inspection of jig components and the assembly of wing components.
The Indian defense sector the second-largest military force in the world, is about to undergo a major change. The aerospace and defense industries have been specifically targeted by the government's "Aatmanirbhar Bharat" or Self-Reliant India plan, which places a strong emphasis on developing domestic manufacturing infrastructure supported by the required research and development environment. The market will likely expand more quickly as national security concerns grow. The demand for defense equipment in India has increased as a result of the ongoing territorial disputes.
The China market dominated the Asia Pacific Laser Tracker Market by Country in 2021; thereby, achieving a market value of $74.3 million by 2028. The Japan market would witness a CAGR of 6.8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 8.4% during (2022 - 2028).
Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into Quality Control & Inspection, Alignment, Reverse Engineering, and Calibration. Based on Industry, the market is segmented into Automotive, Aerospace & Defense, Energy & Power, General Manufacturing, Architecture & Construction, Transportation, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include FARO Technologies, Inc., 3D Systems Corporation, Hexagon AB, Automated Precision, Inc., Mitutoyo Corporation, InnovMetric Software, Inc., PLX, Inc., Chotest Technology, Inc., VMT GmbH (Herrenknecht AG group of companies) and Hubbs Machine & Manufacturing, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Quality Control & Inspection
- Reverse Engineering
- Aerospace & Defense
- Energy & Power
- General Manufacturing
- Architecture & Construction
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- FARO Technologies, Inc.
- 3D Systems Corporation
- Hexagon AB
- Automated Precision, Inc.
- Mitutoyo Corporation
- InnovMetric Software, Inc.
- PLX, Inc.
- Chotest Technology, Inc.
- VMT GmbH (Herrenknecht AG group of companies)
- Hubbs Machine & Manufacturing, Inc.
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