Laser Cleaning Market Is Growing At A CAGR Of 4.32% Expected Revenue Growth for 5 Years

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Oct 06, 2022, 08:50 ET

PALM BEACH, Fla., Oct. 6, 2022 /PRNewswire/ -- The Global Laser Cleaning Market is projected to continue to increase revenues through 2027. Laser cleaning is the removal of contaminants or impurities on the surface of a material by physically removing the upper layer of the substrate using laser irradiation. Laser cleaning has developed as an important phase/process in many industries. Largely adopted in manufacturing, laser cleaning has witnessed multiple hardware technology upgrades, as sophisticated production is on the rise. Laser-blasting solutions are used for cleaning and surface conditioning, corrosion control, rust removal and paint removal, de-coating, pre-welding, post-welding, laser cleaning, and surface conditioning and the global market expands across the Americas, Europe, Asia, the Middle East, and North Africa. The growing commercial aviation and automotive industry and increasing use of cleaning lasers for restoration are expected to support the growth of the global laser cleaning market. It serves the aerospace, automotive, defense, nuclear, shipbuilding, and space sectors. A report from Mordor Intelligence projects that the Laser Cleaning Market is growing at a CAGR of 4.32% over the next five years, through 2027 and that North America had the highest share of the market in 2021. Active Companies in the markets today include: Laser Photonics Corporation (NASDAQ: LASE), Luminar (NASDAQ: LAZR), Aeva® (NYSE: AEVA), Coherent Corp. (NASDAQ: COHR), MicroVision, Inc. (NASDAQ: MVIS).

The Intelligence report said: "Further, laser cleaning's basic industrial applications range from mold and part cleaning to removing coatings from battery foils. It is increasingly observed to adapt to changes driven by miniaturization. This factor has led to providers in the industry offering adaptable systems that can be used across multiple parts and processes. Laser cleaning can restore a high-value vehicle with all its original parts and in good condition on the surface. Great cars with little corrosion are tough to obtain, especially as they age. According to Adapt Laser Systems, automotive manufacturers such as Toyota, Michelin, GM, and others have partnered with the company for laser technologies, including cleaning. The significant growth in the demand for electric vehicles and the significant deployment of laser cleaning machines are further analyzed to boost the demand during the forecast period. Thousands of pulses per second are used in laser cleaning to absorb and eliminate impurities. This trend is particularly beneficial for automotive parts that require bonding preparation and pre-weld processes."

Laser Photonics Corporation (NASDAQ: LASE) BREAKING NEWS: Laser Photonics Highlights Key Investment Points for New Investors - Track-record of strong revenue growth and profits - Disruptive Cleantech laser technology addresses $46 billion domestic corrosion problem - Safer, cheaper, cleaner solutions align with government regulation and labor pressure to move away from more hazardous existing methods - Laser Photonics Corporation ("LPC"), a leading global industrial developer of Cleantech laser systems for laser cleaning and other materials applications, announces key highlights from its recent IPO roadshow. All information contained in this release are pursuant to a registration statement on Form S-1 (File No. 333-261129) that was declared effective by the U.S. Securities and Exchange Commission on September 29, 2022. The shares began trading on September 30, 2022, on the Nasdaq Capital Market under the ticker symbol "LASE."

"Our IPO represents a major milestone in our strategy to disrupt the $46 billion global industrial market for removing rust and other materials," said Wayne Tupuola, chief executive officer of Laser Photonics. "Historically, extremely hazardous, dangerous and environmentally destructive abrasives and techniques such as sandblasting have been used for these applications. With our CleanTech Laser Blasting technologies, we offer products with superior performance to customers in a cost-effective and environmentally sustainable way to accomplish their MRO goals."

Tupuola continued, "Today, government entities such as OSHA and the EPA and labor unions have recognized the harmful impact on workers and the environment and are now applying pressure on companies that continue to use these out-of-date technologies. With our "Made in America" products, we believe we can offer superior alternatives to traditional abrasives, driving our financial performance and creating shareholder value over the long-term." CONTINUED… Read this full release for Laser Photonics at: https://www.laserphotonics.com/news-information

Other recent developments in the markets include:

Luminar (NASDAQ: LAZR) recently announced its quarterly business update and financial results for the second quarter of 2022, ended June 30, 2022. The company reported $9.9 million of Q2 revenue, ahead of company expectations and up 57% YoY.

"The most advanced automakers' demand for Luminar is further increasing as we continue to successfully execute on their programs and build further conviction," said Austin Russell, Founder and CEO. "As we prepare for the upcoming series production launch of Iris at the existing production facilities with our partners, we are also now planning the build-out of a larger, fully dedicated and automated facility. This will support the accelerated business, which is driving our increased guidance."

Today, Luminar released its quarterly Path to Series Production video update, which can be viewed at: www.luminartech.com/path. The video spotlights the company's continued progress on industrialization for automotive series production. This update highlights increasing factory automation and capacity for a new facility to support higher expected volumes in the years ahead.

Aeva® (NYSE: AEVA) recently announced its Aeries™ 4D LiDAR™ sensors are now supported on the NVIDIA DRIVE Sim platform. Aeva's Frequency Modulated Continuous Wave (FMCW) 4D LiDAR sensors detect 3D position, in addition to instant velocity for each point at distances up to 500 meters, bringing an added dimension to sensing and perception for safe autonomous driving.

NVIDIA DRIVE Sim is an end-to-end platform architected to run large-scale, physically based, multi-sensor, autonomous vehicle simulation to improve developer productivity and accelerate time to market. DRIVE Sim includes a unique and powerful ray-tracing application programming interface that allows developers to accurately model complex sensor technologies by giving them full control of ray firings and hit point returns. This enables modeling advanced physical phenomena to support new perception sensing technologies such as FMCW LiDAR, for any set of requirements, in a well-organized structure.

Coherent Corp. (NASDAQ: COHR) recently announced that its 400G ZR+ QSFP-DD-DCO transceiver has won the 2022 ECOC Exhibition Industry Award for Optical Integration. The 400G ZR+ transceiver's high transmit output power of 0 dBm enables true IP-over-DWDM deployments in metro and regional optical transport networks, eliminating an entire layer of optical equipment and thereby significantly reducing both capital and operational expenditures for network operators.

"This award for optical integration speaks to our ability to transform line cards into industry-standard pluggable modules," said Dr. Sanjai Parthasarathi, Chief Marketing Officer. "The availability of 400G with such high output power in a QSFP-DD form factor is a game-changer due to its compatibility with router interfaces. Now, service providers can connect routers directly to access, metro, and regional optical transport networks without client interfaces. This IP-over-DWDM network architecture achieves huge savings in upfront costs and ongoing expenses."

MicroVision, Inc. (NASDAQ: MVIS) recently announced its MAVIN™ DR dynamic view lidar system as Class 1 laser product compliant. Class 1 laser products comply with laser safety standards and present no hazard to the eye or skin, according to the International Electrotechnical Commission (IEC). Achieving Class 1 compliance is a key milestone toward securing OEM partnerships, allowing MicroVision to begin sample sales and allowing potential customers to develop lean system architectures with unmatched system level safety guaranteed at lidar level running in real-time logic. MicroVision believes that this represents a huge advantage over all other current solutions. In particular, MicroVision's pixel-by-pixel approach to Class 1 compliance, believed to be a first in the industry, is expected to meet the high standards of OEMs.

MAVIN DR, MicroVision's lidar sensor featuring a dynamic field of view, delivers high resolution at all ranges and with low latency, enabling new ADAS safety features to achieve true highway-pilot functionality that OEMs demand. To ensure system compliance to current IEC standards, MicroVision's lidar system incorporates its patented Automatic Emissions Controls (AEC) methodology. Pulses that are hardware-encoded and timed within nanoseconds of each other are used to qualify the safety of each and every pulse emitted throughout the field of view. This represents the first implementation of its kind that conforms to IEC specification with safety compliance inside the lidar unlike other systems that rely on more expensive sensor fusion implementations that may not be as robust to IEC requirements.

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