Outlook on the Ultrafast Lasers Global Market to 2028 – by Type,

DUBLIN, September 10, 2021–(BUSINESS WIRE)–The “Ultrafast Lasers Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type, Pulse Duration, and Application” report has been added to ResearchAndMarkets.com’s offering.

According to this report the market is expected to reach US$ 3,048.68 million by 2028, registering a CAGR of 11.0% from 2021 to 2028.

The COVID-19 outbreak has affected the overall growth rate of global ultrafast lasers market in the year 2020 in a negative manner to some extent, due to decline in revenue and growth of companies operating in the market owing to supply and demand disruptions across the value chain. Thus, there was a decline in y-o-y growth rate during the year 2020. However, the positive future growth outlook due to expected rise in demand from industrial sectors in developing regions such as APAC, MEA, and SAM, the market growth is expected to normalize from second half of 2021 and continue to grow at steady rate over the forecast period of 2021 to 2028.

With government support, a number of start-ups are entering the market, and many more start-ups are expected to enter the market in the near future. For instance, in recent years, EU support has led to a steady stream of start-up laser companies in the area of high-intensity laser technology. The start-up fund in the region is driven by several supportive factors including research funding and equipment purchase funding. For instance, joint university-industry research centers such as the Fraunhofer Institutes provided substantial government support for industry-directed projects.

Due to these initiatives, there has been a proliferation of companies, such as OneFive (acquired by NKT Photonics), Class Photonics GmbH, Amplitude Systemes, Menlo Systems, and TRUMPF Scientific Lasers, in the area of laser technology. In US, with the growing need for high-intensity lasers, the US government is expected to support small manufacturers of high-power lasers, ultrafast CPA lasers, and components. This will create conducive environment for various start-ups to enter the market. In the US, already houses significant number of start-ups that are active in the field of high-intensity laser technology. For instance, the small specialty research laser company-KMLabs 39-is focused on the development of terawatt-scale, kHz Ti:sapphire lasers. Similarly, NewportoSpectra Physics is focused on engineering improvements to existing Ti:sapphire products.

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Although the ultrafast laser offers several benefits such as enhanced dimensional accuracy and tighter tolerances, reduced collateral damage, and elimination of post-processing steps, however, due to the high cost of procurement, its adoption in small and medium-sized manufacturing enterprises is low. Nevertheless, the ultrafast laser manufacturers are working hard to lower the overall cost of procuring ultrafast laser machines. Also, the cost per watt of output power has reduced substantially with the emergence…