Laser Interferometer Market Size to Reach USD 436.0 Million by 2030 | CAGR of 6.5%
Rising demand for interferometric optical testing and optical instruments, along with increasing focus on metrology system applications in the electronics and semiconductor industry is a key factor driving market revenue growth
Market Size – USD 245.3 Million in 2021, Market Growth – at a CAGR of 6.5%, Market Trends – Increasing government funding for Research & Development (R&D) activities in the field of laser interferometer systems
The global laser interferometer market size is expected to reach USD 245.3 Million in 2030 and register a revenue CAGR of 6.5% during the forecast period, according to latest report by Reports and Data. Rapid scientific and clinical advancements in the field of laser interferometer, recent developments in interferometric optical testing, increasing focus on its metrology applications in industries, such as consumer electronics and space and defense, and increased spending on R&D activities are key factors driving growth of the global laser interferometer market.
Laser interferometer employs laser technology and electronic controls to calibrate slip gauges as well as inspect machine parts for straightness, parallelism, and flatness. Recent years have seen a rise in the use of laser-based interferometers in metrology applications as they are used to calibrate axis motions, machine slides, and machine tables of coordinate measuring devices. The apparatus is portable and offers a very high level of precision and accuracy. Semiconductor and automotive sectors continuously need these high-quality systems to generate extremely accurate and complicated parts. In addition, laser interferometers are used in machine shops to verify precise measuring of industrial products, while some other fields include defense & aerospace, consumer electronics, and ophthalmology. The Michelson, Fabry-Perot, Fizeau, and Mach-Zehnder varieties of laser interferometers are some of the most popular ones used, which provide various benefits that are useful in many research industries. Moreover, laser-based Fizeau interferometers are used to measure transmitted wavefront quality or surface form of particular surfaces or whole optical systems most commonly. Tests of an optical component’s surface figure, flatness, and parallelism are the most frequent uses of Fizeau interferometers.
Development of novel and cutting-edge automated laser interferometers has been made possible by substantial investments as well as government funding. These technological advancements have been made possible by industrialization and scale-up processes necessary to convert promising research & development programs into high-quality, commercial projects. Furthermore, need for meter-scale optical components has sharply increased in the recent years due to surge in applications for security, military, satellite-based, and terrestrial astronomy.
However, high costs of laser interferometer-based systems and operational hurdles are impeding market growth. Only laser interferometers can be utilized by major organizations due to their exorbitant costs, as costs associated with setting up measurements and calibrating equipment make it challenging to achieve necessary ROI that is compatible with a company plan. For various types of measures, various sophisticated measuring machines are required, which increases overall cost, thus hindering revenue growth of the market
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Some major companies in the global market report include Zygo Corporation, 4D Technology Corporation, Renishaw plc., Lasertex Co., Ltd., Automated Precision, Inc. (API), SmarAct GmbH., Horiba, Ltd., Palomar Technologies, Keysight Technologies, and SIOS Messtechnik GmbH.
Some Key Highlights in the Report
- The heterodyne interferometer segment accounted for largest revenue share in 2021. Heterodyne interferometry provides several advantages, including clear direction sensing, high dynamic precision, multiaxis synchronized measuring capabilities, and insensitivity to fluctuations in source intensity. Contrary to homodyne monitoring, a heterodyne readout method offers another way to boost interferometer sensitivity, albeit at the expense of increased noise. It can measure multiple quadratures of output field simultaneously. Furthermore, modern applications include Optical Coherence Tomography (OCT), LIDAR, photolithography, vibrometry, displacement measurement, and photolithography all depend on heterodyne laser interferometric techniques, thus driving revenue growth of this segment.
- The aerospace & defense segment is expected to register a steady revenue CAGR during the forecast period. Use of laser interferometers in dangerous locations and at remote application sites demonstrates their efficacy. Interferometry, Heads-Up Displays (HUD), and precision optical metrology are a few cutting-edge optical technologies that fall under the broad category of aerospace optics. The market is expanding due to increased aerospace and defense industry expenditure as well as rising R&D efforts in this field, which drives growth of this segment.
- The North America market is expected to register a steady revenue growth rate during the forecast period. This is due to increasing funding and R&D activities in this region, which is attributed to availability of advanced technologies as well as existence of research institutes working in the aerospace industry. Moreover, early access to novel innovations due to R&D activities in the field of laser interferometer systems is also driving revenue growth in this region.
- On August 4, 2021, 4D Technology Corporation introduced the newest member of PhaseCam series of dynamic interferometers, along with introduction of 4Sight Focus Acquisition and Analysis Software. PhaseCam dynamic interferometers provide all-encompassing measurement in motion, turbulence, vibration, and cryo/vacuum environmental chambers.
For the purpose of this report, Reports and Data has segmented the global laser interferometer market based on type, interferometer type, application, and region:
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Type Outlook (Revenue, USD Million; 2019–2030)
- Homodyne Interferometer
- Heterodyne Interferometer
Interferometer type Outlook (Revenue, USD Million; 2019–2030)
- Michelson Interferometer
- Fabry-Perot Interferometer
- Fizeau Interferometer
- Twyman-Green Interferometer
- Mach-Zehnder Interferometer
Application Outlook (Revenue, USD Million; 2019–2030)
- Aerospace & Defense
- Electronics Manufacturing/Semiconductor
Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Latin America
- Middle East & Africa
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Key questions addressed in the Report:
- Which key factors are expected to hamper global market growth during the forecast period?
- Which application segment revenue is expected to expand at a rapid CAGR between 2021 and 2030?
- Which regional segment is expected to account for largest revenue share over the forecast period?
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