The Global Laser Tracker Market Was worth USD 680 million in 2023 and is anticipated to reach a valuation of USD 998 million by 2029 from USD 725 million in 2024. It is predicted to register a CAGR of 6.6% during the forecast period 2024-2029.
A laser tracker measures 3-D coordinates by following a laser beam that provides fast and accurate measurement of an object that can be moved anywhere in the line of sight of the base unit. The laser tracker is an instrument that accurately measures a large object by determining the optical positions of the target. Different tools are available to measure and inspect parts, products, and environments. Instead of traditional physical control devices and hand tools, laser trackers are widely used to attempt to measure objects.
The laser tracker was developed in the mid-1980s to facilitate robotic metrology. After thirty years of invention, this technology is now being considered fully as a measurement tool in several components' manufacturing and assembling processes. Additionally, laser tracking systems are leaders in the field regarding portable coordinate measuring machines' durability, accuracy, and reliability. Currently, robot monitoring, calibration, maintenance, and testing applications where laser tracking technology is being used rapidly. In recent years, the increasing demand for research and development activities in 3D measurement techniques has dramatically increased the scope and applicability of laser trackers. Laser technology also uses multiple applications, including robotic metrology, large component manufacturing, and assembly worldwide.
Quality control, inspection, and measurement are important considerations in the aerospace, defense, and automotive industries to confirm that customer specifications and requirements are being met. Due to the increasing demand for laser trackers for inspection and quality monitoring of finished products, assembled parts, and components, the demand in the global market is expected to increase in the future.
However, alignment errors in laser trackers cause inaccuracies that can somewhat hamper this business growth.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
6.6% |
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Segments Covered |
By Application, Offering, Industry, and Region. |
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Various Analyses Covered |
Global, Regional, & Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Brunson Instrument Company (the U.S), Faro (the U.S), On-Trak Photonics Inc. (the U.S), Variation Reduction Solutions, Inc. (the U.S), API (the U.S), Hexagon (Sweden), PLX Inc. (the U.S). VMT GmbH (Germany), Hubbs Machine and Manufacturing Inc. (the U.S), and SGS (Switzerland), among others. |
The Quality Control and Inspection segment is expected to grow at the highest CAGR rate in 2023. This is mainly because various manufacturing companies are adopting this technology to strengthen their quality control segment and meet customer requirements and specifications.
The hardware segment is again divided into laser tracking controllers, retro-reflectors, essential accessories, computer systems, and others. In 2023, the computer systems segment had the largest market share of the laser trackers market.
Among industries, aerospace, defense, and automotive are supposed to dominate the overall market for laser trackers. In the aerospace and defense sector, laser trackers are implemented in 3D measurement and reverse engineering, alignment of weapon systems and axles and rails, RADAR antenna profiling, aircraft rigging, and many other measurement products and services. Due to their portability, the most common applications for tracking lasers in the aerospace industry are the inspection of jig components and the assembly of wing components. In the automotive industry, laser trackers are used for applications such as calibration to automate production lines, alignment of hinge lines and body components, measurement of large panels and assembled body panels, reverse engineering, surface measurement for verification of components, adjustment of industrial robots, deformations and dynamic measurements, quality control and inspection.
Europe accounted for a significant portion of the global laser trackers market in 2019. European OEMs have started using laser trackers to meet quality and safety requirements during the production process. Tracking lasers in the automotive industry finds multiple applications, such as quality inspection, alignment, and calibration. Therefore, the growing automotive industry is driving the demand for laser trackers. Germany, the UK and France should be the top three contributors to the European market. The APAC region market is determined to grow at the highest CAGR during the projection period. One of the critical drivers of business growth in the APAC region is the increasing focus of various market players on the adoption of new technologies.
Major companies operating in the global laser tracker market are Brunson Instrument Company (the U.S), Faro (the U.S), On-Trak Photonics Inc. (the U.S), Variation Reduction Solutions, Inc. (the U.S), API (the U.S), Hexagon (Sweden), PLX Inc. (the U.S). VMT GmbH (Germany), Hubbs Machine and Manufacturing Inc. (the U.S), and SGS (Switzerland), among others.
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