Global Laser Drilling Market to Be Propelled by Advanced Laser Drilling Activities.

The global laser drilling market is forecast to grow rapidly during the period between 2014 and 2020, due to increased drilling activities across the globe. Increase in demand for gas and oil for generation of industrial and non-industrial energy will propel the global laser drilling market during the forecast period.

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Many research laboratories are examining the possibility of using laser drilling technology in gas and oil extraction across the globe. Laser drilling is known for penetrating rocks at a fast pace and with high accuracy. In the gas and oil industry, drilling activities can be accurately and precisely handled by using high-powered lasers. Most market players are offering high-end laser drilling equipment to gas and oil industries across all major regions. On the basis of geographical locations, the global laser drilling market is divided into Europe, Asia Pacific, North America, and Rest of the World.

Currently, laser drilling technology is commonly used in aerospace applications and printed circuit boards. Some of the leading players offering laser drilling technologies and services are JK Lasers, Laserage Technology, EDAC Technologies Corporation, Resonetics, Lenox Laser, and Scantech Laser Pvt. Ltd. The demand for portable electronic devices, which require higher design accuracy, has increased in the recent past. This has further augmented the laser drilling market due to the application of lasers in high-precision manufacture of consumer electronics.

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Benefit of Higher Production Rate Driving Laser Drilling Market

The global laser drilling market is segmented on the basis of geography, application, and technology. Laser drilling is classified into trepanning laser drilling, and percussion laser drilling....