Coordinate Measuring Machines Market: Introduction
The coordinate measuring machines are devices used for measuring the physical geometrical characteristics of an object. Coordinate measuring machine has four major components: computer control system, software, the machine and, probe contact or non-contact. Coordinate measuring machines have set the standard for reliability and accuracy of inspection of products across the manufacturing industries. Technology advancements for improved flexibility, ease of use and simplicity of the coordinate measuring machines, which are able to satisfy the inspection requirements are expected to witness a rapid market expansion. The coordinate measuring machines find inspection and measurement applications in end-users like automotive, aerospace, electronics, energy & power and, others.
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Coordinate Measuring Machines Market: Dynamics
The Coordinate measuring machines are being gradually used for inspection of components and parts in end-users like automotive, aerospace, shipbuilding and, other industries. The 3D inspection of products and the need to adopt six sigma and quality standards in product development process across the manufacturing industries is a driving factor for the market. In addition to this, the rise in electric vehicle sales and increasing use of metrology in power sector is significantly driving the global coordinate measuring machines market.
The challenges faced by market is the availability of a wide variety of coordinate measuring machines across the market, which makes it difficult for end-users to make a choice. The restraints for the global coordinate measuring machines market is the substitutes of coordinate measuring machine and the increased demand for ODS (Operational data store). Lack of skilled labour also affects the market. The shell life of CMM is increasing and may affect the sales of new machines.
The defence and aerospace industry have become ever more price sensitive, this segment is extremely competitive with high degree of acquisitions and mergers.The demand of high accuracy range of coordinate measuring machines from the defence and aerospace segment, in order to stay ahead in competition, is creating opportunities for the global coordinate measuring machines market throughout the forecast. The trends followed in the coordinate measuring machines market is the incorporation of image recognition and new vision technology. The use of metrology in new-generation nuclear power plants and the increase in use of commercial aircrafts. The need for sensor technology that can deal with parts when they become smaller and smaller are all trends in the coordinate measuring machines market.
Coordinate Measuring Machines Market: Segmentation
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Coordinate Measuring Machines Market: Regional Outlook
The aerospace machining industry is cutting edge and very competitive in North America. As the tolerance requirements become stringent, the demand for high performance machine tools is increasing and thereby growing the demand for high accuracy range of coordinate measuring machine.
The increase in defence & aerospace and automotive setups in Asia is an important driver for coordinate measuring machines market in Asia, mainly focusing China. There has been adverse effect in Europe and American markets owing to the price pressures.
Coordinate Measuring Machines Market: Key Players
Examples of some of the market participants in the global coordinate measuring machines market are Chien Wei Precise Technology Co., Ltd, Renishaw Plc, CMM Solutions (UK) Ltd, Wenzel America, LTD, CREAFORM, Helmel Engineering Products, Inc., Werth Messtechnik Gmbh, Xi’an High-Tech Aeh Industrial Metrology Co.Ltd, Nikon Metrology Inc., Carl Zeiss Industrial Metrology, Hexagon AB, Mitutoyo America Corporation, Accurate Engineering Company Pvt Ltd, Dukin Co Ltd, International Metrology Systems, ITP Group And, others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, types and applications.
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