Lockheed Martin, the top dogs in defence technology, recently unveiled a portable, 30-kilowatt electric fiber laser weapon that may be powerful enough to replace traditional missiles (cue imperial march).
So we’re one step closer to creating the Death Star thanks to some major innovations in laser technology, most notably the advent of fiber lasers.
Fiber lasers are lasers where the active gain medium is an optical fiber integrated with rare-earth elements such as erbium and ytterbium (yes, that’s a word). Unlike conventional gas lasers, a fiber laser uses part of the fiber as the resonating cavity where the laser beam is generated.
Aside from their obvious uses in defence and evil supervillainy, fiber lasers they are actually largely used for cutting and welding purposes in the Manufacturing, Automotive and Electronics Industries due to their superior performance, compact size, high output power, low cost, durability, and eco-friendly nature. All these factors are leading to some major growth for the Global Fiber Laser Market, which is posting a CAGR of 25.3 percent from now through 2018.
TechNavio analysts have identified five major trends that are contributing to the growth of the fiber laser market over the coming years (sadly, sharks with lasers on their heads didn’t make the cut):
1. Increasing R&D Spending by Vendors
Global fiber laser vendors such as IPG Photonics have already invested a considerable amount of time and money in their R&D divisions with a view to expanding their product portfolio. Vendors in this market are increasingly investing in their R&D division to provide better functionality and meet evolving customer requirements. R&D investment by vendors has enabled them to capture a significant market share and gain a competitive edge in the market.
2. Increase in Collaborations
One of the major trends that the market is witnessing is the increase in collaborations between fiber laser vendors. These collaborations are aimed at expanding business and improving respective market share, as well as producing better technology through strategic alliances.
3. Rapid Technological Advancements
The performance and application of fiber lasers are constantly increasing with technological advancements that provide substantial cost-, energy-, and space-saving opportunities to end-users when compared to alternative technologies. Better technology means fiber lasers are becoming stronger, more powerful, and more energy-efficient than ever before.
4. Emergence of Eco-friendly Technologies
Fiber lasers produce much lower CO2 emissions and deliver improved performance compared to other alternative technologies. Benefits such as reduced energy consumption, less waste, and reliance on non-hazardous materials are also adding to the popularity of fiber lasers in the market.
5. Increase in Production Capacity
As the global demand for fiber lasers has increased, manufacturers have responded by ramping up production capacity to meet demand. Vendors in the market continue to invest heavily to increase their production capacity. For instance, in 2012 alone IPG Photonics invested US$68.2 million in capital expenditure, most of which was for the expansion of its manufacturing capacity.
For more insights into this booming market, view our Global Fiber Lasers Market 2014-2018 report.
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