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The global ultrafast lasers market was valued at USD 3.37 billion in 2018 and is expected to reach a value of USD 12.82 billion by 2024, at a CAGR of 25.02%, during the forecast period (2019NEW YORK, June 13, 2019 /PRNewswire/ -- Market Overview Key Market Trends Femtosecond and Picosecond Variant Gaining Market Share - Available in the femtosecond and picosecond variants, these lasers are gaining traction in the medical equipment and military equipment manufacturing. For instance, stents and catheters are being made with ultrafast lasers. - In addition, mandates of laser marking for medical devices across the regions is another reason for the increasing demand for ultrafast lasers. - While femtosecond lasers are known for marking in the glass, which allows the traceability of syringes and other glass devices, and other volatile materials used in military equipment, picosecond lasers are most used for laser marking on the steel metals surface. In addition, these lasers are used for processing plastics for medical devices (polymer processing). Asia-Pacific to Shape the Future of Ultrafast Lasers Market - Research-funding agencies have begun to invest mostly in new collaborations and facilities in Asia-Pacific that employ ultrafast lasers for broad areas of science. - Companies are collaborating in this region, which is creating huge opportunity. For instance, in November 2018, STORMBEE made a strategic partnership with NEOLASER SOLUTIONS to grow their presence in the Asia Pacific market of Singapore, Malaysia, Thailand, Indonesia, Vietnam, China, Japan, Korea, Australia, New Zealand. - Symposiums like APAC Laser Symposium help to create awareness regarding laser usage, thus attracting investors. Competitive Landscape Vendors in the market are involved in new product rollouts with significant R&D investments and partnerships that significantly boost the market growth. In addition to technological investments, companies also have acquisitions as their growth strategy. The market consists of laser/photonic giants, such as Coherent, Trumph, Jenoptik, Lumentum, among others. - March 2019 - Coherent Inc. significantly expanded its Gilching, Germany micromachining and sub-system facility in Gilching, and completed the relocation of the company's laser marking group from nearby Gunding. This "Center of Excellence", designated as Coherent Munich was an upgrade to the organization's applications and R&D capabilities. - March 2019 - Trumpf's new disk laser TruDisk Pulse 421 generates laser light in the green spectrum at 515 nanometers. It operates in the pulsed mode at mean power of 400 watts and solves the problems found when using infrared lasers to weld copper. - February 2019 - MKS, introduced Spectra-Physics IceFyre 355-30, a high power, industrial UV picosecond hybrid fiber laser designed for micromachining applications in high throughput manufacturing. Reasons to Purchase this report: - The market estimate (ME) sheet in Excel format - Report customization as per the client's requirements - 3 months of analyst support Download the full report: https://www.reportbuyer.com/product/5778469/?utm_source=PRN About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +1 (718) 213 4904 Website: www.reportbuyer.com SOURCE ReportBuyer |