The global market for Laser Trackers is projected to reach US$500.4 Million by the year 2027, trailing a post COVID-19 CAGR of 10.5% over the analysis period 2020 through 2027. Laser trackers are optical target tracker based large object measuring devices that function using a laser beam and a retro reflector. Their highly precise position and angle tracking capabilities over large distances ensure accurate alignment of up to 0.025 mm. The laser sent out by the device is tracked remotely through laser reflection from the retro reflector along a moving target, usually a spherical object, across a predetermined path unto the object to be measured. Co-ordinates taken at various select points are fed into plotting software that calculates exact position and positional deviation. The metrics are further attuned to determine final result. The high specificity and dynamic accuracy of laser trackers, coupled with technological advancements and added dimensional capabilities have made laser trackers irreplaceable in large manufacturing operations and complex assembly lines, especially in scientific and aircraft manufacturing, for real time remote robotic position and alignment guidance and inline inspection. A laser tracker uses distance-measuring technology and encoders to track and specify a target's location in 3-D space. Laser tracker operators must understand their trackers fully to avoid errors when measuring and derive the most benefits out of them. The laser trackers are primarily used for quality control & inspection, alignment, calibration and reverse engineering; whereas aerospace & defense, automotive, energy & power, architecture & construction constitute their major end-use sectors.

Quality control and inspection is paramount to manufacturing industries as potential lapses can lead to serious impairments in safety and performances. Thus the demand generated for laser tracking and other metrology solutions from the manufacturing industry is considerably higher when compared to other sectors. Laser tracking technology also go a long way in addressing challenges arising due to fluctuating demand, evolving consumer preferences and an overall reduction in batch sizes. Moreover, effective integration of laser tracking into various production processes also facilitates in achieving faster and effective results in the long run. Laser tracking systems are becoming more and more advanced and the inadequacies of traditional gauging devices in fixing manufacturing issues are fueling market expansion. Growth in the laser trackers market is being driven by the rising need for maintaining high quality standards in manufacturing operations. Market opportunities are emerging from the increasing digitization being witnessed in various industries. The growing adoption of automation and emergence of smart factories are driving adoption of laser tracking systems. The ability to provide quick, timely and accurate results is fueling growth in the laser tracking systems market. Capable of simultaneously processing large volumes of measurement data for modeling and analysis. Such capability is highly useful in several industries where inspection volumes are large and measurement processes require being coordinated efficiently for achieving highest quality standards. As part of inspection and quality control processes, laser tracking is utilized for various functions including dimensional analysis, alignment, machine calibration as well as CAD-based inspection.

The technology is highly beneficial to industries that have complex supply chain infrastructure and demanding processes. The advent of industry 4.0 has opened up opportunities for seamless data exchange and automation of processes in manufacturing systems. Consequently, laser tracking systems are being increasingly adopted by various industries, including aerospace, architecture, automotive, construction, defense, electronics, energy, and healthcare. This drive towards precision engineering is expected to provide momentum needed for developing highly efficient laser tracking solutions. In today's world of technological revolution, parts manufactured commonly include part tolerances and surface finishes at nanometer and sub-micrometer regions. This factor has been responsible for triggering innovation in laser tracking space. In case of the electronics industry, the miniaturization trend which led to the shrinking in the size of electronic components considerably without any discrepancies to the operational functionality, triggered laser tracking solution developers to come-up with groundbreaking innovations. Supply chains worldwide are seeking measurement standards that enable precise manufacture of machined components. A wide range of factories across the world can used precise machining of same parts using CAD models or drawings. Further, measurement instruments of all manufacturers are calibrated as per same specific tolerances, which is essential to ensure that all the components fit properly. Laser tracking systems ensure product consistency and repeatability, eliminates production errors and enables precision manufacturing. Further, the technology enables dimensional adherence in accordance with design specifications. Laser trackers play a critical part in enabling precision makers to create products with the required fit, despite the differences in terms of processes and measurement systems.