Laser Tracker Market by Application (Quality Control & Inspection, Alignment, and Reverse Engineering), Industry (Automotive, Aerospace & Defense, General Manufacturing, Energy & Power), and Geography - Global Forecast to 2023

  • ID: 4519936
  • Report
  • Region: Global
  • 137 Pages
  • Markets and Markets
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FEATURED COMPANIES

  • API
  • Diverse Dimensions
  • Faro
  • Hiwe Sqs
  • Mactech Inc.
  • Or3D Ltd.
  • MORE

Quality control & inspection to fuel laser tracker market growth

The laser tracker market is estimated to be valued at USD 290.9 million in 2018 and is expected to be worth USD 521.6 million by 2023, growing at a CAGR of 12.39% between 2018 and 2023. The growth of the laser tracker market is propelled by the necessity of quality control & inspection across industries such as automotive and aerospace & defense. Quality control & inspection methodologies verify and maintain the desired level of product quality. The major challenge for players in the laser tracker market is addressing alignment errors that may result in loss of measurement accuracy when the tracker is operational.

Increasing technology adoption in aerospace & defense industry propels laser tracker market growth

Manufacturing aircraft involves large-scale metrology, along with in-place inspection of large parts and assemblies. The most common applications of laser trackers, owing to their portability, in the aerospace industry are jig component inspection and wing component assembly. Apart from inspection, laser trackers are used for monitoring the condition of fixtures or tools and track their movements in real time. Adjustments are made if a fixture is found to be trending out of tolerance before nonconforming parts are formed. Other applications of laser trackers in the aerospace industry include process improvements in die inspection, sub- and final-assembled product inspection, and detailed part inspection. In the defense industry, laser trackers are used in 3D measurement and reverse engineering, weapon system and shaft and rail alignment, RADAR dish profiling, aircraft rigging, and many other measurement products and services.

Europe and APAC are the major markets for laser trackers

In 2017, Europe held the largest market share. Europe is among the world’s largest producers of motor vehicles, and the automotive industry represents the largest private investor in R&D. The European Commission supports the global technological harmonization and provides funding for R&D. The Commission monitors technical developments in enhanced passive safety requirements and considers possible inclusion of new safety features and enhanced active safety technologies. OEMs in Europe have started using laser trackers to meet quality and safety requirements during the production process. Laser trackers in the automotive industry find multiple applications, such as quality inspection, alignment, and calibration. Thus, the growing automotive industry boosts the demand for laser trackers. The market in APAC is gaining opportunities from various industries, such as automotive, aerospace & defense, general manufacturing, and energy & power, which use laser trackers for quality control and inspection, calibration, and alignment purposes. Advancements toward smart factory in countries such as China and India are also driving the growth of the laser tracker market in this region. In addition, the automotive industry in China is growing rapidly, and the auto shows held in Beijing, Shanghai, and other cities are drawing a lot of attention.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts. The breakup of the profiles of primary participants is given below:

  • By Company Type: Tier 1 = 33%, Tier 2 = 45%, and Tier 3 = 22%
  • By Designation: C-Level Executives = 33%, Directors = 25%, and Others = 42%
  • By Region: North America = 35%, Europe = 29%, APAC = 24%, and RoW = 12%

Key players profiled in this report are Faro Technologies, Inc. (US), Hexagon AB (Sweden), and Automated Precision Inc. (US). Some of the other companies operating in the laser tracker market are VMT GmbH (Germany), On-Trak Photonics Inc. (US), SGS (Switzerland), Variation Reduction Solutions, Inc. (US), Brunson Instrument Company (US), Hubbs Machine and Manufacturing Inc. (US), and PLX Inc. (US).

Research Coverage

The report estimates the size and growth potential of the laser tracker market across segments such as application, industry, and geography. Furthermore, the report includes market dynamics and the competitive analysis of the key players in the market, along with their company profiles and recent developments.

Key Benefits of Buying This Report

The report would help leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the laser tracker market segments and subsegments. This report would help stakeholders better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. This report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

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FEATURED COMPANIES

  • API
  • Diverse Dimensions
  • Faro
  • Hiwe Sqs
  • Mactech Inc.
  • Or3D Ltd.
  • MORE

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for This Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Laser Tracker Market
4.2 Laser Tracker Market, By Application
4.3 Laser Tracker Market, By Industry and Region
4.4 Laser Tracker Market, By Country

5 Market Overview
5.1 Introduction
5.2 Value Chain Analysis
5.3 Laser Standards, Classifications, and Related Ratings
5.3.1 Ingress Protection (IP) Ratings
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 High Accuracy, Precision, and Portability
5.4.1.2 Advancements in Distance Measurement Technology and Improvements in Processing Speed
5.4.1.3 Automation of Robotic Systems
5.4.2 Restraints
5.4.2.1 Availability of Substitutes for Inspection
5.4.3 Opportunities
5.4.3.1 Growing Automotive Market to Boost Overall Manufacturing Process Requiring Condition Monitoring and Extrusion Press Alignment
5.4.4 Challenges
5.4.4.1 Addressing Alignment Errors in Laser Trackers

6 Components of Laser Trackers and Related Services
6.1 Introduction
6.2 Hardware
6.2.1 Laser Tracker Head
6.2.2 Laser Tracker Controller
6.2.3 Retroreflector
6.2.3.1 Spherically-Mounted Retroreflector (SMR)
6.2.3.2 Ball-Mounted Hollow Retroreflector (BMR)
6.2.3.2.1 Stainless Steel
6.2.3.2.2 Ceramic
6.2.3.2.3 Durable
6.2.4 Computer System
6.2.5 Essential Accessories
6.2.5.1 Sensor Cables
6.2.5.2 Stands, Tripods, and Interfaces
6.2.5.3 Power Supply Units, Power Cables, and Battery Chargers and Sets
6.2.5.4 Others
6.3 Software
6.4 Services
6.4.1 Installation and Training
6.4.2 Rental

7 Laser Tracker Market, By Application
7.1 Introduction
7.2 Quality Control & Inspection
7.3 Alignment
7.4 Reverse Engineering
7.5 Calibration

8 Laser Tracker Market, By Industry
8.1 Introduction
8.2 Automotive
8.3 Aerospace & Defense
8.4 Energy & Power
8.5 General Manufacturing
8.6 Architecture and Construction
8.7 Transportation
8.8 Others

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 South Korea
9.4.4 India
9.4.5 Rest of APAC
9.5 RoW
9.5.1 Middle East and Africa
9.5.2 South America
9.5.2.1 Brazil
9.5.2.2 Rest of South America (RoSA)

10 Competitive Landscape
10.1 Overview
10.2 Ranking Analysis of Key Players in Laser Tracker Market
10.3 Competitive Situations and Trends
10.3.1 Product Launches
10.3.2 Acquisitions
10.3.3 Expansions

11 Company Profiles
11.1 Key Players
11.1.1 Hexagon
11.1.2 Faro
11.1.3 API
11.1.4 SGS
11.1.5 VMT
11.1.6 On-Trak Photonics
11.1.7 Variation Reduction Solutions
11.1.8 Brunson
11.1.9 Hubbs
11.1.10 PLX
11.2 Other Key Players
11.2.1 Verisurf
11.2.2 Oasis Alignment Services, LLC
11.2.3 Nebula3D Services Private Limited
11.2.4 Mactech Inc.
11.2.5 East Coast Metrology, LLC
11.3 Key Innovators
11.3.1 Advanced Dimensional Solutions Pty Ltd.
11.3.2 Hiwe Sqs
11.3.3 Diverse Dimensions
11.3.4 Or3D Ltd.
11.3.5 Novamechanical Design Ltd.

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details

List of Tables:
Table 1 Classification Criteria of Different Laser Standards
Table 2 Ingress Protection (IP) Ratings
Table 3 Comparison Between Laser Tracker and Laser Radar
Table 4 Laser Tracker Market, By Application, 2015–2023 (USD Million)
Table 5 Laser Tracker Market for Quality Control & Inspection Application, By Industry, 2015–2023 (USD Million)
Table 6 Laser Tracker Market for Alignment Application, By Industry, 2015–2023 (USD Million)
Table 7 Laser Tracker Market for Reverse Engineering Application, By Industry, 2015–2023 (USD Million)
Table 8 Laser Tracker Market for Calibration Application, By Industry, 2015–2023 (USD Million)
Table 9 Laser Tracker Market, By Industry, 2015–2023 (USD Million)
Table 10 Laser Tracker Market for Automotive Industry, By Application, 2015–2023 (USD Million)
Table 11 Laser Tracker Market for Automotive Industry, By Region, 2015–2023 (USD Million)
Table 12 Laser Tracker Market in North America for Automotive Industry, By Country, 2015–2023 (USD Million)
Table 13 Laser Tracker Market in Europe for Automotive Industry, By Country, 2015–2023 (USD Million)
Table 14 Laser Tracker Market in APAC for Automotive Industry, By Country, 2015–2023 (USD Million)
Table 15 Laser Tracker Market in RoW for Automotive Industry, By Region, 2015–2023 (USD Million)
Table 16 Laser Tracker Market in South America for Automotive Industry, By Country, 2015–2023 (USD Million)
Table 17 Laser Tracker Market for Aerospace & Defense Industry, By Application, 2015–2023 (USD Million)
Table 18 Laser Tracker Market in Aerospace & Defense Industry, By Region, 2015–2023 (USD Million)
Table 19 Laser Tracker Market in North America for Aerospace & Defense Industry, By Country, 2015–2023 (USD Million)
Table 20 Laser Tracker Market in Europe for Aerospace & Defense, By Country, 2015–2023 (USD Million)
Table 21 Laser Tracker Market in APAC for Aerospace & Defense Industry, By Country, 2015–2023 (USD Million)
Table 22 Laser Tracker Market in RoW for Aerospace & Defense Industry, By Region, 2015–2023 (USD Million)
Table 23 Laser Tracker Market in South America for Aerospace & Defense Industry, By Country, 2015–2023 (USD Million)
Table 24 Laser Tracker Market for Energy & Power, By Application, 2015–2023 (USD Million)
Table 25 Laser Tracker Market for Energy & Power Industry, By Region, 2015–2023 (USD Million)
Table 26 Laser Tracker Market in North America for Energy & Power Industry, By Country, 2015–2023 (USD Million)
Table 27 Laser Tracker Market in Europe for Energy & Power Industry, By Country, 2015–2023 (USD Million)
Table 28 Laser Tracker Market in APAC for Energy & Power Industry, By Country, 2015–2023 (USD Million)
Table 29 Laser Tracker Market in RoW for Energy & Power Industry, By Region, 2015–2023 (USD Million)
Table 30 Laser Tracker Market in South America for Energy & Power Industry, By Country, 2015–2023 (USD Million)
Table 31 Laser Tracker Market for General Manufacturing Industry, By Application, 2015–2023 (USD Million)
Table 32 Laser Tracker Market for General Manufacturing Industry, By Region, 2015–2023 (USD Million)
Table 33 Laser Tracker Market in North America for General Manufacturing Industry, By Country, 2015–2023 (USD Million)
Table 34 Laser Tracker Market in Europe for General Manufacturing Industry, By Country, 2015–2023 (USD Million)
Table 35 Laser Tracker Market in APAC for General Manufacturing Industry, By Country, 2015–2023 (USD Million)
Table 36 Laser Tracker Market in RoW for General Manufacturing Industry, By Region, 2015–2023 (USD Million)
Table 37 Laser Tracker Market in South America for General Manufacturing Industry, By Country, 2015–2023 (USD Million)
Table 38 Laser Tracker Market for Architecture and Construction Industry, By Application, 2015–2023 (USD Million)
Table 39 Laser Tracker Market for Architecture and Construction Industry, By Region, 2015–2023 (USD Million)
Table 40 Laser Tracker Market in North America for Architecture and Construction Industry, By Country, 2015–2023 (USD Million)
Table 41 Laser Tracker Market in Europe for Architecture and Construction Industry, By Country, 2015–2023 (USD Million)
Table 42 Laser Tracker Market in APAC for Architecture and Construction Industry, By Country, 2015–2023 (USD Million)
Table 43 Laser Tracker Market in RoW for Architecture and Construction Industry, By Region, 2015–2023 (USD Million)
Table 44 Laser Tracker Market in South America for Architecture and Construction Industry, By Country, 2015–2023 (USD Million)
Table 45 Laser Tracker Market for Transportation Industry, By Application, 2015–2023 (USD Million)
Table 46 Laser Tracker Market for Transportation Industry, By Region, 2015–2023 (USD Million)
Table 47 Laser Tracker Market in North America for Transportation Industry, By Country, 2015–2023 (USD Million)
Table 48 Laser Tracker Market in Europe for Transportation Industry, By Country, 2015–2023 (USD Million)
Table 49 Laser Tracker Market in APAC for Transportation Industry, By Country, 2015–2023 (USD Million)
Table 50 Laser Tracker Market in RoW for Transportation Industry, By Region, 2015–2023 (USD Million)
Table 51 Laser Tracker Market in South America for Transportation Industry, By Country, 2015–2023 (USD Million)
Table 52 Laser Tracker Market for Others, By Application, 2015–2023 (USD Million)
Table 53 Laser Tracker Market for Others, By Region, 2015–2023 (USD Million)
Table 54 Laser Tracker Market in North America for Others, By Country, 2015–2023 (USD Million)
Table 55 Laser Tracker Market in Europe for Others, By Country, 2015–2023 (USD Million)
Table 56 Laser Tracker Market in APAC for Others, By Country, 2015–2023 (USD Million)
Table 57 Laser Tracker Market in RoW for Others, By Region, 2015–2023 (USD Million)
Table 58 Laser Tracker Market in South America for Others, By Country, 2015–2023 (USD Million)
Table 59 Laser Tracker Market, By Region, 2015–2023 (USD Million)
Table 60 Laser Tracker Market in North America, By Country, 2015–2023 (USD Million)
Table 61 Laser Tracker Market in Europe, By Country, 2015–2023 (USD Million)
Table 62 Laser Tracker Market in APAC, By Country, 2015–2023 (USD Million)
Table 63 Laser Tracker Market in RoW, By Region, 2015–2023 (USD Million)
Table 64 Laser Tracker Market: Ranking of Key Companies
Table 65 Product Launches (2016 & 2017)
Table 66 Acquisitions (2015–2017)
Table 67 Expansions (2016 & 2017)

List of Figures:
Figure 1 Laser Tracker Market Segmentation
Figure 2 Laser Tracker Market Size Estimation Process Flow
Figure 3 Laser Tracker Market: Research Design
Figure 4 Data Triangulation
Figure 5 Laser Tracker Market, By Industry, 2018 & 2023
Figure 6 Laser Tracker Market, By Application, 2017 & 2023
Figure 7 Laser Tracker Market, By Region, 2017
Figure 8 Laser Tracker Market Expected to Grow at High CAGR Between 2018 and 2023
Figure 9 Laser Tracker Market for Quality Control & Inspection to Grow at Highest CAGR Between 2018 and 2023
Figure 10 Aerospace & Defense Held Largest Share of Laser Tracker Market in 2017
Figure 11 US Likely to Hold Largest Share of Laser Tracker Market Between 2017 and 2023
Figure 12 Value Chain Analysis: Major Value Addition During Development Phase
Figure 13 Market Dynamics: Overview
Figure 14 Hardware Components Used in Laser Trackers
Figure 15 Types of Ball-Mounted Hollow Retroreflectors
Figure 16 Essential Accessories Used in Laser Trackers
Figure 17 Services Related to Laser Trackers
Figure 18 Laser Tracker Market Segmentation, By Application
Figure 19 Quality Control & Inspection Application Held Largest Size of Laser Tracker Market in 2017
Figure 20 Laser Tracker Market Segmentation, By Industry
Figure 21 Quality Control & Inspection Application Held Largest Size of Laser Tracker Market for Automotive Industry in 2017
Figure 22 China Held Largest Size of Laser Tracker Market for Automotive in 2017
Figure 23 Quality Control & Inspection Application to Hold Largest Size of Laser Tracker Market for Aerospace & Defense Industry By 2023
Figure 24 APAC Expected to Exhibit Highest CAGR in Laser Tracker Market for Energy & Power Industry During Forecast Period
Figure 25 APAC to Dominate Laser Tracker Market for General Manufacturing Industry During 2018–2023
Figure 26 China to Hold Largest Size of Laser Tracker Market for Architecture and Construction Industry By 2023
Figure 27 US to Command North American Laser Tracker Market for Transportation Industry During Forecast Period
Figure 28 Geographic Analysis
Figure 29 APAC to Exhibit Highest CAGR in Laser Tracker Market Between 2018 and 2023
Figure 30 Snapshot of Laser Tracker Market in North America
Figure 31 Snapshot of Laser Tracker Market in Europe
Figure 32 Snapshot of Laser Tracker Market in APAC
Figure 33 Market Evolution Framework — Product Launches Emerged as Key Strategy Adopted By Market Players
Figure 34 Product Launches – Key Growth Strategy in 2017
Figure 35 Hexagon: Business Overview
Figure 36 Faro: Company Snapshot
Figure 37 SGS: Company Snapshot

Note: Product cover images may vary from those shown
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  • Hexagon
  • Faro
  • API
  • SGS
  • VMT
  • On-Trak Photonics
  • Variation Reduction Solutions
  • Brunson
  • Hubbs
  • PLX
  • Verisurf
  • Oasis Alignment Services, LLC
  • Nebula3D Services Private Limited
  • Mactech Inc.
  • East Coast Metrology, LLC
  • Advanced Dimensional Solutions Pty Ltd.
  • Hiwe Sqs
  • Diverse Dimensions
  • Or3D Ltd.
  • Novamechanical Design Ltd.
Note: Product cover images may vary from those shown
6 of 6
Note: Product cover images may vary from those shown
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