When looking back on 2018, the predicted growth of the laser cutting industry is on track and many experts say the industry is projected to have significant growth over the next 5 years. We have seen growth in the need for precision motion in the laser cutting industry as well.
With the expected levels of growth throughout 2018, estimates were putting the industry value at about $3.77 billion by the end of 2018 and predicted to reach $6.72 billion by 2024. This is nearly 100 percent growth since 2012.
In several industries, including shipbuilding, aviation, and automotive manufacturing, lasers have become a vital part of the automation process.