An ultra-precision machine is designed specifically for particular work and helps to develop products in the desired form with high accuracy. These machines provide superior-quality products with low human interference. Rising usage of ultra-precision machines in several industrial applications due to growing productivity and reduced process time are the major growth factors for the global market.
Asia Pacific is the major contributor to the ultra-precision machine market owing to growing end-use industries such as automotive, semiconductors, and medical technology boosting demand for electronic devices which is also anticipated to drive the semiconductor market, consequently encouraging the demand for ultra-precision machines. Manufacturers are focusing more on development of automation techniques which monitor the whole manufacturing process and also reduce human error which helps to achieve high accuracy in the product. Also, increasing demand from optical equipment, defense, and aerospace industries is anticipated to drive the market growth during the forecast period.
Ultra-precision Machine Market – Competitive Landscape
The ultra-precision machine market involves several international and domestic companies. Leading market players are focusing on technological developments in the product to reduce the cost of production and increase sales.
- In October 2018, The Fives Group collaborated with Simsa to establish Fives Grinding Mexico. Simsa is a Mexican company involved in rebuilding machine tools for the automotive and aerospace sector. Fives is focusing on local expansion of The Fives Group.
- In February 2017, Fives launched a new high performance precision ID grinder named Landis- Bryant UL. It is an internal production grinder specifically designed for high speed and high precision grinding.
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Kugler GmbH was founded in 1983 in Germany. The company is involved in manufacturing and sale of high precision and hydrostatic bearing precision machine. These machines are suitable for processes in the areas of gloss surface processing, micro structuring, micro lasers, and milling and turning processes. Company has collaboration with associations and competence networks across country and internationally to increase their presence across the globe.
Grinding Ultra Precision is part of The Fives Group founded in 2007. It includes several manufacturing brands such as Landis, Gardner, Giustina, Daisho, and Cranfield Precision. The company designs and manufactures grinding machines across the globe. Its portfolio also includes internal/ external grinding, camshaft grinding, surface grinding, cylindrical grinding etc. It delivers machines across the globe to automotive, aerospace, heavy equipment, defense, and other industries.
Several international and domestic players are involved in the ultra-precision machine market. Some of them are Moore Nanotechnology Systems, Toshiba, Nuflare Technology Inc., Alicona Imaging GmbH, Innolite, GD Optics, Fanuc, GUANGDA OPTICS SDN BHD, Owens Industries, Inc. and others.
Ultra-precision Machine Market – Dynamics
Growth in end-use industries anticipated to boost ultra-precision machine demand
Ultra-precision machines are used across different industries including semiconductor, aerospace, automotive, and electronics. Economic development of emerging economies in Asia Pacific and South America are anticipated to boost automotive, electronics, and semiconductor industries. These industries are the major consumers of ultra-precision machines which is anticipated to fuel the demand for the product across the globe during the forecast period.
Technological advancement in products expected to encourage ultra-precision machine demand
Manufacturers are focused on technological developments and product innovations to cater to diverse regional markets across the globe. Product accuracy with low human involvement are the major concerns of ultra-precision machine manufacturers, which is expected to make ultra-precision machines more attractive. Continuous innovation in machine accuracy and reducing human intervention to avoid human errors is expected to stimulate the growth of the ultra-precision machine market during the forecast period.
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Ultra-precision Machine Market – Segmentation
The ultra-precision machine market can be bifurcated on the basis of:
Ultra-precision Machine Market Segmentation – By Type:
Based on type, the ultra-precision machine market is segmented into:
- 3 Axis
- 4 Axis
- 5 Axis
Ultra-precision Machine Market Segmentation – By Application:
In terms of application, the ultra-precision machine market can be bifurcated into:
- Medical and Biotechnology
- Others (Aerospace, Defense etc.)
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