North America 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 North America Laser Tracker Market would witness market growth of 6.1% CAGR during the forecast period (2022-2028).
The laser tracker is a precise & portable tool that is used by coordinate measuring machines to measure objects precisely. By measuring simply, quickly, and accurately, these machines enable the creation of products, optimization procedures, and delivery solutions. These characteristics are more significantly aiding the expansion of the laser tracker market.
Dimension values, angles, geometrical tolerances, and other variables are determined by software that computes the retroreflector's 3D coordinates. The hallmark of laser trackers is their capacity to measure large objects. A regular arm-type CMM's measuring range is only a few meters, whereas a laser tracker's measuring range is typically greater than 10m.
When users require to measure large objects such as airplanes, substantial equipment components, or components milled on double-column, five-face milling machines, it is useful. The parts of a laser tracker are typically divided into four categories. A retroreflector (SMR) that makes contact with the object to be measured, a camera body that combines a light-emitting & receiving unit, a tripod to support it, and a computer to run the laser tracker software.
One of the countries with the largest automotive industries is the United States. The expansion of logistics & delivery services, along with major e-commerce behemoths like Amazon, etc., have a significant impact on the demand for commercial vehicles. The development of engine technology is accelerating as worldwide emission standards rise. These elements significantly contribute to the region's regional growth in the automotive industry. Major automotive OEMs are based in the country, and its extensive support infrastructure & electric vehicle policies have a positive impact.
The US market dominated the North America Laser Tracker Market by Country in 2021; thereby, achieving a market value of $238.6 million by 2028. The Canada market is experiencing a CAGR of 8.5% during (2022 - 2028). Additionally, The Mexico market is exhibiting a CAGR of 7.6% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Laser Tracker Market is Predict to reach $920 Million by 2028, at a CAGR of 6.8%
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
- Rest of North America
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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