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Coordinated Measuring Machines - Non-Contact Probing Technology to Uplift Global Sales According to Frost & Sullivan - The market earned revenues of $1.43 billion in 2010 and is estimated to reach $1.79 billion in 2015 – Application-specific products will emphasize the need for CMM
Coordinated Measuring Machines - Non-Contact Probing Technology to Uplift Global Sales According to Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2011/08/23 - The market earned revenues of $1.43 billion in 2010 and is estimated to reach $1.79 billion in 2015 – Application-specific products will emphasize the need for CMM.

   
 
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The mature world coordinated measuring machines (CMM) market is slated to grow at a compound annual growth rate (CAGR) of 4.6% from 2010 to 2015, driven by pent-up demand and product introductions during the short and medium terms.

New analysis from Frost & Sullivan (testandmeasurement.frost.com), World Coordinated Measuring Machines Market, finds that the market earned revenues of $1.43 billion in 2010 and estimates this to reach $1.79 billion in 2015.

New opportunities have unfolded as built-up demand post-recession is unleashed to energize market prospects. There is a distinct shift in the usage of CMM from quality control to process control. The use of dimensional measurement by vendors to check the process involved has contributed to the growing utilization of CMMs in process control.

Manufacturers in this domain are rolling out application-specific products that provide better ROI. These machines are custom built to cater to varying end-user requirements. The upsurge in made-to-order manufacturing has augmented revenues of application-specific machines. Vendors are increasing their focus on temperature compensation, high-speed data-gathering sensor technology, and software improvements.

"For vendors in this space, the accent is on non-contact probing technology," says Frost & Sullivan Industry Analyst Prathima Bommakanti. "Laser-based non-contact probes, which have great advantages in the amount of data acquired and the speed with which it is obtained, are highly accepted in the automotive and aerospace industry."

In the aftermath of the recent economic crisis, the CMM market has become highly price sensitive. Vendors are under pressure to produce dramatic results, often while operating on shoe string budgets. The low-end and mid-range CMM segments, in particular, are witnessing high price pressure. Major CMM end users such as aerospace, automotive, and machine shops have gradually shifted from standardized production processes to custom jobs.

The automotive industry too has moved away from producing large quantities of identical engine blocks to a few thousand similar pieces, as the engine designs change every year and the vehicle models in the market have proliferated. Market participants find it challenging to keep in step with changing customer needs.

Slow replacement rates have also curbed market progression. Being robust, CMM equipment does not wear out as fast as other industrial products. Although some parts need to be replaced over time, there is often no need to buy a new machine for years. The average replacement rates for CMM can be higher than 10 to 15 years, thus affecting the sale of the new machines.

"To survive in this landscape, smaller regional suppliers must enhance awareness levels on their technologies and focus on offering better value propositions," concludes Bommakanti. "Besides, they must expand their operations in emerging economies such as China and India, either by setting up new facilities or through individual agents."

If you are interested in more information on this study, please send an email to Anna Zanchi, Corporate Communications, at anna.zanchi[.]frost.com with your contact details.

World Coordinated Measuring Machines Market is part of the Test & Measurement Growth Partnership Service program, which also includes research in the following markets: World Metrology Software Market, World General Purpose Test Equipment Market Markets, World Oscilloscopes Markets, World Inline Metrology Market, and World Large Scale Metrology Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

 
 
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Coordinated Measuring Machines - Non-Contact Probing Technology to Uplift Global Sales According to Frost & Sullivan

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