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Laser Tracker Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2027 – IndustryARC

Laser Tracker Market

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Laser Tracker Market is Poised to Reach $725.6 Million by 2026, Advancing at CAGR 10.9% During Forecast Period 2021-2026

HYDERABAD, TELANGANA, INDIA, September 30, 2022 / -- IndustryARC, in its latest report, predicts that the Global Laser Tracker Market is poised to reach $725.6 million by 2026, advancing at CAGR 10.9% during the forecast period 2021-2026. Laser Tracker is generally used for large dimensional metrology such as reverse engineering, quality control & inspection, dynamic measurement and so on. The demand for quality control & inspection, robot tracking, alignment and calibration leads to the adoption of laser technology based trackers across various industries such as aerospace & defense, automotive, engineering and so on, acts as a major driver for the growth of the market during the forecast period 2021-2026. Moreover increasing demand for R & D activities in 3D measurement method and remote control devices have increased the applicability of Laser Tracker. Furthermore Laser Trackers and plumb bobs provide greater accuracy, durability, reliability and cost effective solutions for large scale metrology applications. Such benefits are also boosting the laser tracker adoption rate during the forecast period 2021-2026.

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Key Takeaways:

This IndustryARC report on the Laser Tracker Market highlights the following areas -

1. The top companies in the Laser Tracker Market are FARO, API Metrology, Hexagon, VMT GmbH, On-Trak Photonics Inc, SGS, Variation Reduction Solutions Inc, Brunson Instrument Company, PLX Inc and Hubbs Machine and Manufacturing Inc.

2. Aerospace and Defense Industry is analyzed to hold highest share and grow at CAGR of 7.9% during the forecast period 2021-2026, owing to wide range of applications.

3. Europe dominated the Laser Tracker Market in 2020 with a share in excess of 35.1%, owing to rise in usage of Laser Trackers.

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Segmental Analysis:

1. By Application the market is dominated by Quality Control and Inspection segment which accounts for a share of 32% in 2020. It is also used to locate the position of a part of a machine to get accuracy even if the machine is not in working condition.

2. Aerospace and Defense in Laser Tracker segment is growing at a CAGR of 7.9% during the forecast period 2021-2026.

3. Europe dominated the Laser Tracker Market by a market share of more than 35.1% in 2020, owing to the growing use of Laser Tracker across various industries such as Aerospace, Automotive and so on.

Competitive Landscape:

The top 5 players in the Laser Tracker industry are -

1. FARO Technologies Inc

2. API Metrology

3. Hexagon

4. VMT GmbH

5. On-Trak Photonics Inc

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

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