Expanding Applications of Laser Technology to Provide Growth Opportunities for Ultrafast Lasers Market during 2021–2028

NEW YORK, UNITED STATES, December 7, 2021 /EINPresswire.com/ -- According to our latest market study on “Ultrafast Lasers Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Pulse Duration, and Application,” the market is expected to grow from US$ 1,467.50 million in 2021 to US$ 3,048.68 million by 2028; it is estimated to grow at a CAGR of 11.0% from 2021 to 2028.

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Report Coverage: Details
Market Size Value in: US$ 1,467.50 Million in 2021
Market Size Value by: US$ 3,048.68 Million by 2028
Growth rate: CAGR of 11.0% from 2021-2028
Forecast Period: 2021-2028
Base Year: 2021
No. of Pages: 156
No. Tables: 83
No. of Charts & Figures: 83
Historical data available: Yes
Segments covered: Type, Pulse Duration, and Application and Geography
Regional scope: North America; Europe; Asia Pacific; Latin America; MEA
Country scope: US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Ultrafast laser is finding its application in major areas such as medical devices, and metal processing and defense. For instance, the US invests a significantly larger share of its tax revenue in defense than any other nation across the world. It is expected that laser technology will become an important factor of this effort owing to its applications in communications, directed energy, and remote sensing, as well as in the and analysis of materials in challenging environments. Laser technology has become a key component of the manufacturing process. The laser technology is helpful in tasks such as heating for hardening, melting for welding and cladding, and removing materials for drilling and cutting.  The laser technology is also used in the medical industry for fabricating high-quality surgical stents. 

Additionally, many kinds of laser surgery are available that utilize ultrafast high-intensity laser processing of tissue. One of them is Laser-Assisted In-Situ Keratomileusis (LASIK), which uses ultrafast laser scalpels to make notches in the eyeball as part of a laser sculpting protocol to improve eyesight. High power (PetaWatt) laser is being used in mission of the Stockpile Stewardship Program (SSP) of the US Department of Energy. SSP is developed for testing and maintenance of nuclear weapon. The high-intensity laser in SSP is used to deliver sharp penetrating high-energy X-rays for radiography of high energy density matter.  

Impact of COVID-19 Pandemic on Ultrafast lasers Market

The COVID-19 outbreak pandemic is having a negative impact on the global ultrafast lasers market. Since the outbreak, all manufacturing processes across the world have been temporarily closed to combat the spread of the novel coronavirus and comply with the social distancing norms imposed by local and federal government bodies. Moreover, the closure of manufacturing units is resulting into logistic issues. However, as the manufacturing processes worldwide resumed from the 3rd quarter of 2020 and the demand for ultrafast laser started to recover, manufacturers are expected to stabilize the overall revenue and cash flow in coming years.

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Technological Innovation and Implementation of Ultrafast Lasers in Diverse Industry Applications

Ultrafast laser has various advantages that attract its adoption in various industries. ultra short pulse (USP) lasers for accurate micromachining can reduce or avoid unwanted thermal effects, which limit feature resolution, edge quality, and/or the overall product functionality. Laser manufacturers have developed a new generation of femtosecond (fs) lasers for industrial users based on new material—ytterbium doped fiber. This material has the capability of much higher powers than previous femtosecond lasers and is usually wrapped in a master oscillator/power amplifier (MOPA) internal configuration. Further, there has also been recent development in picosecond (Ps) lasers for industrial application. 

Ultrafast Lasers Market: Type

The global ultrafast lasers market is segmented into diode-pump lasers, mode-locked diode lasers, titanium-sapphire lasers, and fiber lasers. Ultrafast laser is continuously developing in terms of power and capability. Institutes across the world are investing in research and development (R&D) to develop high intensity laser technology that will find its application in areas of nuclear energy, intense medical surgery, among others, in future. 

Ultrafast Lasers Market: Competitive Landscape and Key Developments

Amplitude Laser; Coherent, Inc.; NKT Photonics A/S; Spark Lasers; Fluence; Wuhan Huaray Precision Laser Co.,Ltd.; Jenoptik AG; KMLabs; Laser Quantum; and Clark-MXR, Inc. are among the key players in the global Ultrafast Lasers market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In April 2021, two French sister-companies, Amplitude Technologies and Amplitude Systèmes merged and now operate under a unique name: Amplitude.

In March 2020, Continuum, a company of Amplitude Laser Group, launched Surelite 4: a new high energy diode pumped laser platform for ultrafast lasers, exhibited at Photonics West 2021 on Amplitude’s virtual booth.

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