LONDON, June 29 /PRNewswire/ --
The European large scale micro metrology market is anticipated to register low growth during the first few quarters of 2009 due to the economic downturn. An upturn in the economic situation by the last quarter of 2009 is set to spur market growth with resurgent demand from the automotive industry. With an operational and capital expenditure freeze in all end-user segments, growth in this market is dependent on demand from the aerospace industry.
New analysis from Frost Sullivan (http://www.testandmeasurement.frost.com), European Large Scale Micro Metrology Market, finds that the market earned revenues of US$117.2 million in 2008 and estimates this to reach US$199.7 million in 2013. The following markets are covered in the research: laser scanner, laser tracker (including indoor global positioning systems), industrial photogrammetry and white light scanners.
Major automotive companies have resorted to drastic measures which include production cuts and lay-offs, which is likely to result in this end user segment desisting from capital investments in equipment for their production units, remarks Frost Sullivan Senior Research Analyst Sivakumar Narayanaswamy. With the Airbus A350 project being on track with regard to delivery plans, the demand for micro metrology tools is most likely to come from the aerospace industry during the next few quarters.
Higher accuracy and tolerance are the prime factors motivating the automation of large-scale micro metrology. This ensures better quality of products in a global competitive environment. However, this also means that end users have to make substantial investments due to the high prices of these solutions. In the current economic scenario, the automotive segment is less likely to invest while the aerospace industry is more likely to do so as a result of ongoing projects.
The lack of return-on-investment (ROI) knowledge among end-users is a key challenge and is likely to negatively impact market expansion, cautions Narayanaswamy. Ignorance of ROI for dimensional measurement products in this market among clients, and the inability of suppliers to convince clients about the benefits of adopting solutions with hard facts, is likely to dampen growth over the long term.
Vendors have to demonstrate the ROI of their solution before they approach clients. This is an arduous job but, with the prevailing economic condition, this approach is more likely to yield higher sales.
A workable marketing and sales strategy should be developed for typical solutions which require huge investments, concludes Narayanaswamy. Vendors should work on the ROI and convince clients of the returns on their investment, both financially and from a quality standpoint.
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