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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

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

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.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • DEFINITION
    • STUDY SCOPE
      • MARKETS COVERED
      • GEOGRAPHIC SCOPE
      • YEARS CONSIDERED FOR THIS STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN LASER TRACKER MARKET
    • LASER TRACKER MARKET, BY APPLICATION
    • LASER TRACKER MARKET, BY INDUSTRY AND REGION
    • LASER TRACKER MARKET, BY COUNTRY
  • MARKET OVERVIEW
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
    • LASER STANDARDS, CLASSIFICATIONS, AND RELATED RATINGS
      • Table CLASSIFICATION CRITERIA OF DIFFERENT LASER STANDARDS
      • INGRESS PROTECTION (IP) RATINGS
        • Table INGRESS PROTECTION (IP) RATINGS
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
        • Table COMPARISON BETWEEN LASER TRACKER AND LASER RADAR
      • OPPORTUNITIES
      • CHALLENGES
  • COMPONENTS OF LASER TRACKERS AND RELATED SERVICES
    • INTRODUCTION
    • HARDWARE
      • LASER TRACKER HEAD
      • LASER TRACKER CONTROLLER
      • RETROREFLECTOR
      • COMPUTER SYSTEM
      • ESSENTIAL ACCESSORIES
    • SOFTWARE
    • SERVICES
      • INSTALLATION AND TRAINING
      • RENTAL
  • LASER TRACKER MARKET, BY APPLICATION
    • INTRODUCTION
      • Table LASER TRACKER MARKET, BY APPLICATION, 2015-2023 (USD MILLION)
    • QUALITY CONTROL & INSPECTION
      • Table LASER TRACKER MARKET FOR QUALITY CONTROL & INSPECTION APPLICATION, BY INDUSTRY, 2015-2023 (USD MILLION)
    • ALIGNMENT
      • Table LASER TRACKER MARKET FOR ALIGNMENT APPLICATION, BY INDUSTRY, 2015-2023 (USD MILLION)
    • REVERSE ENGINEERING
      • Table LASER TRACKER MARKET FOR REVERSE ENGINEERING APPLICATION, BY INDUSTRY, 2015-2023 (USD MILLION)
    • CALIBRATION
      • Table LASER TRACKER MARKET FOR CALIBRATION APPLICATION, BY INDUSTRY, 2015-2023 (USD MILLION)
  • LASER TRACKER MARKET, BY INDUSTRY
    • INTRODUCTION
      • Table LASER TRACKER MARKET, BY INDUSTRY, 2015-2023 (USD MILLION)
    • AUTOMOTIVE
      • Table LASER TRACKER MARKET FOR AUTOMOTIVE INDUSTRY, BY APPLICATION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET FOR AUTOMOTIVE INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN NORTH AMERICA FOR AUTOMOTIVE INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN EUROPE FOR AUTOMOTIVE INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN APAC FOR AUTOMOTIVE INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN ROW FOR AUTOMOTIVE INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN SOUTH AMERICA FOR AUTOMOTIVE INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
    • AEROSPACE & DEFENSE
      • Table LASER TRACKER MARKET FOR AEROSPACE & DEFENSE INDUSTRY, BY APPLICATION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN AEROSPACE & DEFENSE INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN NORTH AMERICA FOR AEROSPACE & DEFENSE INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN EUROPE FOR AEROSPACE & DEFENSE, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN APAC FOR AEROSPACE & DEFENSE INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN ROW FOR AEROSPACE & DEFENSE INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN SOUTH AMERICA FOR AEROSPACE & DEFENSE INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
    • ENERGY & POWER
      • Table LASER TRACKER MARKET FOR ENERGY & POWER, BY APPLICATION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET FOR ENERGY & POWER INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN NORTH AMERICA FOR ENERGY & POWER INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN EUROPE FOR ENERGY & POWER INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN APAC FOR ENERGY & POWER INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN ROW FOR ENERGY & POWER INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN SOUTH AMERICA FOR ENERGY & POWER INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
    • GENERAL MANUFACTURING
      • Table LASER TRACKER MARKET FOR GENERAL MANUFACTURING INDUSTRY, BY APPLICATION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET FOR GENERAL MANUFACTURING INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN NORTH AMERICA FOR GENERAL MANUFACTURING INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN EUROPE FOR GENERAL MANUFACTURING INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN APAC FOR GENERAL MANUFACTURING INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN ROW FOR GENERAL MANUFACTURING INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN SOUTH AMERICA FOR GENERAL MANUFACTURING INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
    • ARCHITECTURE AND CONSTRUCTION
      • Table LASER TRACKER MARKET FOR ARCHITECTURE AND CONSTRUCTION INDUSTRY, BY APPLICATION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET FOR ARCHITECTURE AND CONSTRUCTION INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN NORTH AMERICA FOR ARCHITECTURE AND CONSTRUCTION INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN EUROPE FOR ARCHITECTURE AND CONSTRUCTION INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN APAC FOR ARCHITECTURE AND CONSTRUCTION INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN ROW FOR ARCHITECTURE AND CONSTRUCTION INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN SOUTH AMERICA FOR ARCHITECTURE AND CONSTRUCTION INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
    • TRANSPORTATION
      • Table LASER TRACKER MARKET FOR TRANSPORTATION INDUSTRY, BY APPLICATION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET FOR TRANSPORTATION INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN NORTH AMERICA FOR TRANSPORTATION INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN EUROPE FOR TRANSPORTATION INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN APAC FOR TRANSPORTATION INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN ROW FOR TRANSPORTATION INDUSTRY, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN SOUTH AMERICA FOR TRANSPORTATION INDUSTRY, BY COUNTRY, 2015-2023 (USD MILLION)
    • OTHERS
      • Table LASER TRACKER MARKET FOR OTHERS, BY APPLICATION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET FOR OTHERS, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN NORTH AMERICA FOR OTHERS, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN EUROPE FOR OTHERS, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN APAC FOR OTHERS, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN ROW FOR OTHERS, BY REGION, 2015-2023 (USD MILLION)
      • Table LASER TRACKER MARKET IN SOUTH AMERICA FOR OTHERS, BY COUNTRY, 2015-2023 (USD MILLION)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table LASER TRACKER MARKET, BY REGION, 2015-2023 (USD MILLION)
    • NORTH AMERICA
      • Table LASER TRACKER MARKET IN NORTH AMERICA, BY COUNTRY, 2015-2023 (USD MILLION)
      • US
      • CANADA
      • MEXICO
    • EUROPE
      • Table LASER TRACKER MARKET IN EUROPE, BY COUNTRY, 2015-2023 (USD MILLION)
      • GERMANY
      • UK
      • FRANCE
      • ITALY
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • Table LASER TRACKER MARKET IN APAC, BY COUNTRY, 2015-2023 (USD MILLION)
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • INDIA
      • REST OF APAC
    • ROW
      • Table LASER TRACKER MARKET IN ROW, BY REGION, 2015-2023 (USD MILLION)
      • MIDDLE EAST AND AFRICA
      • SOUTH AMERICA
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING ANALYSIS OF KEY PLAYERS IN LASER TRACKER MARKET
      • Table LASER TRACKER MARKET: RANKING OF KEY COMPANIES
    • COMPETITIVE SITUATIONS AND TRENDS
      • PRODUCT LAUNCHES
        • Table PRODUCT LAUNCHES (2016 & 2017)
      • ACQUISITIONS
        • Table ACQUISITIONS (2015-2017)
      • EXPANSIONS
        • Table EXPANSIONS (2016 & 2017)
  • COMPANY PROFILES
    • KEY PLAYERS
      • HEXAGON
      • FARO
      • API
      • SGS
      • VMT
      • ON-TRAK PHOTONICS
      • VARIATION REDUCTION SOLUTIONS
      • BRUNSON
      • HUBBS
      • PLX
    • OTHER KEY PLAYERS
      • VERISURF
      • OASIS ALIGNMENT SERVICES, LLC
      • NEBULA3D SERVICES PRIVATE LIMITED
      • MACTECH INC.
      • EAST COAST METROLOGY, LLC
    • KEY INNOVATORS
      • ADVANCED DIMENSIONAL SOLUTIONS PTY LTD.
      • HIWE SQS
      • DIVERSE DIMENSIONS
      • OR3D LTD.
      • NOVAMECHANICAL DESIGN LTD.
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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