High Energy Lasers Market worth USD 7.43 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "High Energy Lasers Market by Application (Cutting, Welding, and Drilling, Military and Defense, Communications, and Other Applications), by Product Type (Gas Laser, Chemical Laser, Excimer Laser, Solid State Laser, and Fiber Laser), and by Region - Global Trends, Market Share, and Forecast to 2027". The global high energy lasers market was valued at USD 7.43 billion in 2020 to USD 16.40 billion by 2027, at a CAGR of 12.4% from 2021 to 2027. With the growing inclination toward automation, the use of high-energy lasers for cutting, welding, and drilling is expected to increase even further over the coming years, as these systems are cost-effective, high speed, and reliable manufacturing machines for low and high throughput. For instance, according to a study by Capgemini, in 2019, nearly 70% of the manufacturers have been pursuing smart factory initiatives; this number has increased significantly since then, owing to the effects of the pandemic. Such trends are expected to positively impact the demand for automated solutions in the manufacturing industry. In addition to this, the use of high energy lasers in various industries for cutting, welding, and drilling has been increasing, owing to the precision and efficiency of these devices compared to conventional solutions; these devices should be able to work in harsh environments and major vendors in the market have been increasingly expanding their portfolio in the market studied.

Global High Energy Lasers Market Segmentation

The overall high energy lasers market has been segmented into application and region.

• By Application (Cutting, Welding, and Drilling, Military and Defense, Communications, and Other Applications)
• By Product Type (Gas Laser, Chemical Laser, Excimer Laser, Solid State Laser, and Fiber Laser)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Based on the type, the global high energy lasers market has been segmented into gas, chemical, excimer, solid-state, and fiber

A variety of lasers are based on gases; these are either single atoms, ions, or molecules and are often used in a mixture with other substances having auxiliary functions. While operating, the gas is often in a plasma state and contains a significant concentration of electrically charged particles; the operation requires a high-voltage supply. Gas lasers have been important laser sources in the early times, and currently, many of them have been replaced with compact, low-cost laser diodes and partly with solid-state lasers. There are some applications certain types of gas lasers are hard to replace and are still widely used. These lasers can be grouped according to their laser-active species, neutral atoms, ions, or molecules. Whereas, Chemical lasers that emit radiation in the visible range are of great interest for military technologies, as most of the lasers are optically or electrically pumped, this type of laser use the energy released during a chemical reaction and is most often based on the generation of excited HF* and DF* molecules.

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The Asia Pacific accounts for the largest market share during the forecast period in the high energy lasers market

Based on the regions, the global high energy lasers market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia-Pacific was accounted for the highest market share of 46.16% in the global high energy lasers market and was anticipated to maintain its dominance throughout the forecast period, followed by Europe and North America.

Concurrent with the growth of the manufacturing industry in China, multiple companies offer high-energy lasers for cutting and welding purposes. For instance, Shan Dong Honda Benk CNC Smart Equipment Co. Ltd offers a range of fiber laser cutting machines. The high energy lasers are significantly used for marking and cutting in Asia, and the presence of multiple operators in the region indicates the high demand for the products. For instance, LaserAsia, based out of India, offers a wide range of industrial fiber laser marking machines and fiber laser metal cutting machines. Additionally, the company also offers CO 2 lasers for skin treatment. Asia -Pacific is expected to hold a strong market share during the forecast period in the studied market. Its growth is expected to be driven by various industries, including missile and defense, manufacturing, and healthcare.

Some of the major companies that operate in the global high energy lasers market are TRUMPF Pvt. Ltd, IPG Photonics, Coherent Inc., nLight Inc., Bae Systems PLC, Alltec Gmbh, Lockheed Martin Corporation, Applied Companies Inc., The Boeing Company, Lumentum Holdings, Bystronic Laser AG, Wuhan Raycus Fiber Laser Technologies Co. Ltd, Raytheon Company, Northrop Grumman Corporation, and Han's Laser Technology Co. Ltd.

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