The Europe Laser Tracker Market would witness market growth of 6.4% CAGR during the forecast period (2022-2028).
Laser technology is used in many different industries all over the world, such as robot metrology, manufacturing, and large component assembly. In the aerospace and defense sectors, laser trackers are used for many measuring goods and services, including weapon systems, reverse engineering, shaft and rail alignment, RADAR dish profiling, aircraft rigging, and many others.
No matter what angle the laser light is received from, the retroreflector (SMR) returns the light in the same direction due to an internal mirror surface. Since the retroreflector (SMR) has a true sphere-like shape and light is reflected from its center, it is possible to determine the center coordinates of the reflector's sphere.
The United Kingdom has the second-largest aerospace sector in the world, after the United States. The UK's civil aerospace industry generated over $34.8 billion in revenue in 2020, accounting for roughly 16% of the laser market. With projected revenue of over $22.8 billion in 2020, the UK's commercial space industry is expanding quickly. By 2030, the industry hopes to account for 10% of the global space market. The UK government has shown a strong commitment to growing and expanding the domestic supply chain.
The Germany market dominated the Europe Laser Tracker Market by Country in 2021; thereby, achieving a market value of $61.2 million by 2028. The UK market is poised to witness a CAGR of 5.5% during (2022 - 2028). Additionally, The France market is anticipated to witness a CAGR of 7.2% during (2022 - 2028).
Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into Quality Control & Inspection, Alignment, Reverse Engineering, and Calibration. Based on Industry, the market is segmented into Automotive, Aerospace & Defense, Energy & Power, General Manufacturing, Architecture & Construction, Transportation, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Laser Tracker Market is Predict to reach $920 Million by 2028, at a CAGR of 6.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include FARO Technologies, Inc., 3D Systems Corporation, Hexagon AB, Automated Precision, Inc., Mitutoyo Corporation, InnovMetric Software, Inc., PLX, Inc., Chotest Technology, Inc., VMT GmbH (Herrenknecht AG group of companies) and Hubbs Machine & Manufacturing, Inc.
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