Laser Cleaning Market Growing Rapidly Along with Demand and Rising Industrial Applications

News provided by

20 Oct, 2022, 10:40 ET

Share this article

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Oct. 20, 2022 /PRNewswire/ -- The global Laser cleaning system market is highly competitive and will, according to reports, continue to grow in all the major markets worldwide. A report from MarketsAndMarkets said that The growing need for Laser Cleaning in numerous applications, including conservation and restoration, cleaning procedures, and industrial use, as well as the preference for Laser Cleaning over traditional approaches, are boosting the market's expansion. In comparison to conventional cleaning techniques, laser cleaning offers numerous benefits, including chemical, thermochemical, thermal, grinding, and blasting. It can even enhance the entire production process. The report projected that the Laser Cleaning Market is anticipated to increase from USD 588.8 million in 2018 to USD 723.9 million by 2023. The report said: "Applications related to cleaning processes dominated the global laser cleaning market… the market for laser cleaning is divided into three main categories: industrial, conservation & restoration, and cleaning process. Due to the significant need for cleaning automotive parts, the market for cleaning processes had the biggest market size (in recent years). Additionally, lasers are used to remove paint and coatings like oxide layers from metal before welding. The total expansion of the laser cleaning market will also be partly attributed to the expanding commercial aerospace industry." Active Companies in the markets today include: Laser Photonics Corporation (NASDAQ: LASE), Luminar (NASDAQ: LAZR), Aeva® (NYSE: AEVA), Coherent Corp. (NASDAQ: COHR), MicroVision, Inc. (NASDAQ: MVIS).

MarketsAndMarkets continued: "The fibre laser cleaning market is anticipated to experience the greatest CAGR growth (in 2023). Due to characteristics like high cleaning precision, superior position cleaning precision, selective washing, safe operating environment, and low maintenance cost, the market for fibre lasers is anticipated to experience considerable expansion throughout the forecast period. The fibre laser industry has expanded overall as a result of the expanding application fields in art and heritage sites, automotive and aerospace parts, and surface cleaning."

Laser Photonics Corporation (NASDAQ: LASE) BREAKING NEWS: Laser Photonics Completes Order for U.S. Navy - Laser Photonics Corporation ("LPC"), a leading global industrial developer of Cleantech laser systems for laser cleaning and other materials applications, today announced the delivery of the CleanTech Handheld LPC-1000CTH to the U.S. Navy Kingsbay Trident Re-fit Facility, announced on October 11, 2022.

Wayne Tupuola, chief executive officer of Laser Photonics, commented: "We announced last week the latest sale of our CleanTech Laser Blasting Technology to the U.S. Navy, which has now been delivered. Including this sale, we have now sold eight systems for a total of $750,000 to the Fairchild and Hurburt Airforce Bases, the Army depot/supply core, the Navy Special Warfare Group, SOCOM (2 systems) and the Department of Veteran Affairs over the past 18 months.

"These initial units are being used to develop standard operating procedures and processes, and once developed, we expect to see follow-on purchases from each buyer. In addition, we are continually working to penetrate new parts of the U.S. government, including the DoD, to demonstrate the safety, hazard, efficiency and financial benefits of using our technology to drive sales to new customers within the organizations." CONTINUED… Read this full release for Laser Photonics at: https://www.laserphotonics.com/news-information

Other recent developments in the markets include:

Luminar (NASDAQ: LAZR), a leading global automotive technology company, recently announced it will provide its quarterly business update and report financials for the third quarter of 2022 following the close of the market on Wednesday, Nov. 2, 2022.

Founder and CEO Austin Russell and CFO Tom Fennimore will host a video webcast that day at 2:00 p.m. PDT (5:00 p.m. EDT) to discuss business and financial results followed by a live Q&A session.

Starting on Wednesday, Oct. 26 at 1:00 p.m. PDT / 4:00 p.m. EDT, verified shareholders can submit and upvote questions by visiting: https://app.saytechnologies.com/luminar-2022-q3. This Q&A platform will remain open until 1:00 p.m. ET on Tuesday, Nov. 1. A selection of submitted questions will be answered during the earnings call.

What: webcast featuring third-quarter 2022 financials, business update and live Q&A

Date: Wednesday, Nov. 2, 2022

Time: 2:00 p.m. PDT (5:00 p.m. EDT)

Location: The webcast will be available live on Luminar's Investor site at http://luminartech.com/quarterlyreview. A replay of the webcast will be available following the presentation.

Intempora, a dSPACE company and pioneer in advanced software solutions for autonomous driving, and Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, recently announced that Aeva's Aeries™ 4D LiDAR™ sensors, including Aeries II, have been integrated into Intempora's RTMaps (Real-Time Multisensor applications) software platform. RTMaps allows engineers to accelerate the development and deployment of next generation automated driving solutions including Advanced Driver Assistance Systems (ADAS) and fully autonomous vehicles.

"Bringing Aeva's next generation 4D LiDAR to the RTMaps platform is a significant step forward for developers working on the forefront of automated vehicle technology," said James Reuther, Vice President of Technology at Aeva. "With this integration, they are now able to take advantage of Aeva's unique capabilities and 4D data in the integration of ADAS and autonomous vehicle platforms."

Coherent Corp. (NASDAQ: COHR), a leader in advanced laser processing solutions, recently announced HIGHvision, a machine vision system for laser welding heads, that greatly improves the efficiency of manufacturing electric vehicle (EV) batteries and motors.

The transition to EVs worldwide is expected to accelerate, enabled in part by process innovations that lower their manufacturing costs, and by advancing toward Industry 4.0 and digital and smart manufacturing techniques that will increasingly contain machine learning and artificial intelligence, making them more competitive with internal combustion engines. As a next step, Coherent has developed HIGHvision, a turnkey system consisting of advanced machine vision hardware and software that enables laser welding heads to align to software-defined features on the workpiece in milliseconds and with ultrahigh accuracy. HIGHvision greatly accelerates welding throughput, which lowers the total cost of ownership, all while maintaining very high quality and reliability.

MicroVision, Inc. (NASDAQ: MVIS), a leader in MEMS-based solid-state automotive lidar and advanced driver-assistance systems (ADAS) solutions, recently announced achievement of another important milestone as it begins delivering samples of its MAVIN™ DR dynamic view lidar system, fulfilling sales to OEMs and Tier 1 suppliers. MAVIN DR, MicroVision's lidar sensor featuring a dynamic field of view, is now available worldwide for sample sales to OEMs, Tier 1s, and other potential customers. MAVIN delivers high resolution at all ranges and with low latency, enabling new ADAS safety features to achieve true highway-pilot functionality that OEMs demand.

"I am pleased to announce that we have successfully started to deliver MAVIN DR samples to OEM and Tier 1 customers," said Sumit Sharma, CEO of MicroVision. "This is an important milestone on the path toward RFQ cycles and adoption of our technology."

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by Laser Photonics Corporation by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.Contact Information:

Media Contact email: [email protected] - +1(561)325-8757

SOURCE Financialnewsmedia.com