Fiber Laser Marking Machine Market Trends

Growth Drivers

• Growing Fleet of Aircraft -Permanent, durable markings carry high importance when it comes to traceability in the aerospace industry. The growing fleet of aircraft is estimated to raise the demand for fiber laser marking machines for marking aerospace products. As per recent estimates, the global commercial fleet in 2017 stood at 25,370 aircrafts. This number is expected to rise with 3.4%, adding up to 35,500 aircrafts by 2027.
   
• Expansion of Electronics Sector – The manufacturing of a huge number of products in the electronics and semiconductor sectors has generated the need for marking and engraving processes. This is expected to boost the growth of the fiber laser marking machine market. As per recent estimates, there are 3,965 global consumer electronics manufacturing businesses as of 2022, an increase of 0.5% from 2021.
   
• Increment in Research and Development Expenditure – As per the World Bank, the percentage of research and development expenditure in the world’s Gross Domestic Product (GDP) rose from 2.14% in 2016 to 2.63% in 2020.
   
• Surge in the Number of Hospitals – Fiber laser marking machines are used to mark high quality barcodes, serial numbers, logos, certifications, and other important identifying information on medical devices and instruments. Thus, the rise in the number of hospitals across the country is anticipated to generate growth opportunities for the market. The number of hospitals in the United States increased from 5,627 in 2015 to 6.090 in 2019, according to the Organization for Economic Cooperation and Development.
   
• Rising Government Support – Several initiatives taken by the governments of different countries are aimed at reforming the domestic engineering industries, which include construction, automotive, and others. Thus, it is anticipated to boost the demand for fiber laser marking machines market. According to the India Brand Equity Foundation, the automotive industry attracted Foreign Direct Investment Equity Inflow (FDI) worth USD 30.78 billion between April 2000 and September 2021, accounting for 5.49% of the total equity FDI during the period.

Challenges

• High Deployment Costs
• Strict Regulatory Compliance
• Stringent Government Rules and Regulations