According to a recent market study published by Growth Market Reports, titled, “Global Fast Steering Mirrors Market” by type, application, and sales channel, by region: Size, Share, trends and opportunity Analysis, 2015-2030”, the market was valued at USD 272.2 Mn in 2021 and is expected to grow at a growth rate of 5.9% by the year 2030.

Get Sample Report @ https://growthmarketreports.com/request-sample/5398

As per Growth Market Reports industry analyst Divjot Singh, “Global Fast Steering Mirrors Market” is anticipated to witness significant growth during the forecast period 2022-2030. A fast-steering mirror (FSM) is a type of mirror used in optical systems that can be rapidly adjusted to direct light in various directions. Fast steering mirrors (FSM) are used to compensate for obstacles that may prevent the laser beam from precisely striking its target receiver. Tip/tilt platforms and flexure-guided mirror mounts provide quick response, high resolution, and stability, making them ideal for image stabilization, free space optical communication, scanning, and tracking applications.

Key factors such as adoption of fast steering mirrors in advanced driver assistance systems is increasing, also rapid technological progress in fast steering mirrors is anticipated to propel the growth of the market during the forecast period.

The supply chain is a system between a company and its suppliers to manufacture and distribute particular products to the final buyers. This system includes different activities, information, entities, people, and resources. Entities involved in the fast-steering mirrors supply chain include manufacturers, suppliers/distributors, and end-users. Presence of major suppliers and distributors, adoption of technologies, availability of raw materials, and presence of an integrated logistics industry are some factors that strengthened the supply chain of fast steering mirrors in developed region.

The primary as well as secondary research methodology is used for keen observation and study about the global fast steering mirrors market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects.

Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry.

On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data referred to obtain and validate the market estimations, budget, expenditure and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand for fast steering mirrors in the crises of global interdependence and governance challenges. Pandemic is the isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. During the pandemic situation, strict measures were taken for monitoring the circumstances, which in turn, affect the fast-steering mirror manufacturers causing unanticipated short and long-term effects such as halt in productions, limited or no supply of raw material supply across region.

In the long-term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In the current scenario, post-COVID-19, the production process of fast steering mirror has been resumed. Moreover, globally the demand for mirrors has regained in several industries as several manufacturing industries have resumed.

Key Takeaways from the Study

  • The players include Ball Corporation, BLUEHALO, CEDRAT TECHNOLOGIES, CMM Optic, Harbin Core Tomorrow Technology Co., Ltd., L3Harris Technologies, Inc., Optics In Motion LLC, Optotune, Physik Instrumente (PI) GmbH & Co. KG., and Thorlabs, Inc.
  • Based on type, the global fast steering mirrors market is divided into less than equals to 0.05µrad resolution, above 0.05 and less than 1.0 µrad resolution, and above and equals to 1.0 µrad resolution. The above 0.05 and less than 1.0 µrad resolution is anticipated to dominate the market. The growth of the segment is attributed to the rising adoption of having above 0.05 and less than 1.0 µrad resolution fast steering mirrors in automotive and healthcare sectors. this type of fast steering mirrors is widely used in optical coherence microscopy (OCM), fundus camera, eye tracking devices, and others.
  • In terms of application the global fast steering mirrors market is fragmented into aerospace & defense, automotive, healthcare, and others. The automotive segment is expected to dominate the global fast steering mirrors market. The rising adoption of FSMs in applications such as LiDAR, dynamic headlights, and ADAS is driving market growth. The growing demand for road safety, combined with strong government support, has prompted leading OEMs to invest in the development of ASAS systems, which has accelerated the demand for fast steering mirrors in the automotive sector.
  • Based on sales channel the fast-steering mirrors market is segmented into original equipment manufacturer (OEM) and aftermarket. The original equipment manufacturer (OEM) segment anticipated to dominate during the forecast period. The growth of the segment is attributed to the assurance provided by the OEM. Moreover, OEM’s fast steering mirrors are more durable and trustworthy.
  • North America is anticipated to dominate the market during the forecast period. The market growth in the region is attributed to growing investments in the region’s defense sector is likely to further boost the demand for these mirrors. The growing demand for sensors and surveillance technologies is expected to create a huge potential for the fast-steering mirrors in the coming years.

Scope of Fast Steering Mirrors Market Report

Report Metric

Details

Market Value in 2021

USD 272.2 Million

Market Growth Rate (from 2022 to 2030)

5.9%

Historical Data

2015 - 2020

Base Year

2021

Forecast Period

2022 – 2030

Units Considered

Value (USD Million)

Market Segments

By Type, By Application, and By Sales Channels

Key Companies Profiled

Ball Corporation, BLUEHALO, CEDRAT TECHNOLOGIES, CMM Optic, Harbin Core Tomorrow Technology Co., Ltd., L3Harris Technologies, Inc., Optics In Motion LLC, Optotune, Physik Instrumente (PI) GmbH & Co. KG., and Thorlabs, Inc.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturer
  • Demand Side: Aerospace & Defense, Automotive, Healthcare, and Others Industries.
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.
  • Associations and Industry Bodies: Society of Photo-Optical Instrumentation Engineers (SPIE).