Acousto Optic Devices Market Size is forecast to reach $540 million by 2026, at a CAGR of 8.64% during 2021-2026. Acoustic optic devices are operated as a modulator by keeping the acoustic wavelength (frequency) fixed and varying the drive power to vary the amount of light in the deflected beam generally used for controlling the power of a laser light with an electric drive signal. Acoustic optical devices are finding their applications in multiple areas such as aerial observation, medical microscopy, and endoscopy and art conservation. Research conducted in imaging cytometry, photoacoustic imaging, optical coherence tomography, and multiphoton microscopy in biomedical imaging and scanning has surged the demand for acousto optic devices. Acoustic optical devices are using ultrasonic grating technology owing to which they are finding applications in many medical and clinical applications. The surge in consumer electronics applications such as micro sensing, flat panel display, and LiDar, has also propelled the demand for acousto-optic devices in semiconductor and materials processing applications as they are manufactured through non-destructive testing techniques.
Acoustic Optical Devices Market Segment Analysis – By Application
Laser Processing segment held significant market share of 26.12% in 2020, owing to rising utilization of expensive laser-drilling technique for oil & gas exploration along with the decreasing drilling costs. Moreover the increasing technological advancements in medical sector has spur the demand for surgical lasers where laser light is used providing smaller incisions, and lesser pain. Healthcare industry is considered as one of the major sectors in European countries such as UK, Germany, France and others due to higher demands towards medical services as well as rising investments towards adoption of advanced medical equipment surged by the geriatric population driving the need for ultrasonic grating and nondestructive testing techniques. A Swiss based startup, Creal had raised a funding of $7.4 million from Investiere and DAA Capital Partners along with receiving grant funding from the European Union’s Horizon 2020 research and innovation program. This investment will be helping the company to continue their research work towards making advanced surgical laser light along with nondestructive testing and ultrasonic grating. In addition, increase in demand for fiber lasers for communication purposes and growth of the wireless infrastructure is anticipated to boost the market growth in the forecast period 2020-2026.
Acoustic Optical Devices Market Segment Analysis – By End Use
Aerospace & Defense is expected to witness a highest CAGR of 9.01% in the forecast period as these devices facilitate the development of defensive systems and reduces the operational costs along with improvement in satellite surveillance using RF based optical networks in satellites. According to European Union, the total turnover of EU aerospace sector $151 billion with maximum spending in R&D. Around 12% of turnover is directed towards R&D in aerospace industry. According to the Boeing Services Market Outlook report, in 2019 the commercial aviation industry is expected to have a remarkable growth in APAC. This is also lead to the rise in commercial airplane deliveries which will in turn drive the need for aviation services. Hence these factors are analyzed to drive the Acoustic Optical Devices Market Size in the forecast period 2021-2026.
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Acoustic Optical Devices Market Segment Analysis – By Geography
APAC region is dominating Acoustic Optical Devices Market growth. This region held significant market share of 30.66% in 2020. Asia-Pacific is one of the most significant regions for the acoustic optical devices market, mainly due to government policies favoring the growth of semiconductor manufacturing and healthcare. Also, the region is the largest producer of consumer electronics leading to the surge in smartphones, laptops uses. In 2020, the Chinese government raised around $23-30 billion to pay for the second phase of its National IC Investment Fund. The Government of India invested $33.87 million in Sultanpur Medical devices Park Project, Telangana for the development of medical devices, $27.09 million Palghar Medical Factory up gradation project, $68 million in medical devices cluster project and $136 million in Medical equipment manufacturing project. With this need for laser-based systems using the laser light, the demand for acousto-optic modulators, deflectors, and tunable filters increases as they are using various techniques such as ultrasonic grating and non-destructive testing. Moreover, acuosto optic devices are finding their applications in multilayer dielectric diffraction where ultrasonic diffraction is used. According to India Electronics and Semiconductor Association, the semiconductor component market in the country is expected to be worth $ 32.35 billion by 2025, further providing ample opportunities for the Acoustic Optical Devices Market.
Acoustic Optical Devices Market Drivers
Surge in laser-based fiber optic sensing in Aerospace applications:
Ongoing developments in aerospace are driving the growth of the market as the manufacturers are increasingly turning to fiber lasers to resolve their manufacturing challenges such as significant weight reduction and others. The rise in airplane reliability requirements in recent years has been compelled by the Federal Aviation Administration (FAA), which boosts worldwide confidence in the safety of aircraft and aircraft parts produced in the U.S. This led to the adoption of fiber lasers as they fiber lasers offer improved energy efficiency, smaller machine footprint, lower maintenance requirements, improved machine lifetime and faster cycle times for high-volume production along with reducing the aircraft weight. In addition, remarkable growth of the commercial aviation industry in the APAC region in particular has resulted in increasing aircraft production in recent years are analyzed to drive the Acoustic Optical Devices industry in the forecast period 2021-2026.
Increase in demand for semiconductor wafers and discrete semiconductor components leading to the increased usage of acoustic optical devices:
Wafer scale flexible surface acoustic wave-based technology is used to manufacture wafer silicon substrate providing the potential of high performance flexible wafer-scale devices by direct integration with mature complementary Metal Oxide semiconductor (CMOS) and microelectromechanical systems (MEMS) technology. According to India Electronics and Semiconductor Association, the semiconductor component market in the country is expected to be worth $ 32.35 billion by 2025. The report states that the country is a lucrative destination for global R&D centers. In 2021, Taiwan Semiconductor Manufacturing Co’s (TSMC), board has approved $2.89 billion in spending to increase capacity. Tower Semiconductor is investing $150 million in 2021 and the first quarter of 2022 to expand manufacturing at its facilities in Israel, the US and Japan for the production of 200mm wafers, hence these capacity expansion are analysed to drive the Acoustic optical devices industry outlook in the forecast period 2021-2026.
Acoustic Optical Devices Market Challenges
Use of other waveguides resulting in the decreased efficiency of the acoustic optical devices
Although the acoustic optical devices such as modulators, deflectors, tunable filters, corelators and other devices are extensively applied in optical network and signal processing applications but it has strong piezoelectric effect and photo-elastic property. Due to the strong piezoelectric effect and photo-elastic property exhibited by these acoustic optical devices lithium niobate waveguides are used, however lithium niobate waveguide devices exhibit a large footprint and limited light–sound interaction resulting from the weak guiding of light. This weak guiding of the light results in the decrease of the efficiency which in turn is set to negatively impact the procurement of Acoustic Optical Devices during the forecast period 2021-2026.
Acoustic Optical Devices Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Acoustic Optical Devices Market. Acoustic Optical Devices top 10 companies include Coherent, Inc., Lightcomm Technology Co. Ltd., IntraAction Corporation, AA Opto Electronics Ltd., AMS Technologies AG, L3 Harris Technologies Inc., Hudson Robotics Inc., Brimrose Corporation, Gooch and Housego PLC among others
Acquisitions/Product Launches
In November 2020, Teraxion launched PowerSpectrum TM TPSR-Xtended. It is designed for a high energy lasers to maintain high peak power without creating strong Self-Phase Modulation that would distort the pulse.
In February 2019, Housego Plc and Gooch developed next generation miniature lasercom transceivers enabling greater than 50 Gb/s satellite constellation interconnectivity. This approach was a strategic partnership on a new project on miniature lasercom transceivers.
Key Takeaways
Asia-Pacific is one of the most significant regions for the Acousto Optic Devices market, mainly due to growing industrialization and adoption of optical technologies to provide accurate solutions by developing countries such as China, Japan, India, South Korea and others.
Emerging applications of acousto-optic devices along with the increasing construction of electronics, manufacturing facilities, massive growth in the semiconductor industry are expected to boost the growth of the market.
Growing need for laser devices in the healthcare vertical for LASIK surgery, hair removal, tattoo removal, skin resurfacing, wrinkle reduction, optical coherence tomography, body contouring along with the growing trend toward laser-based fiber optic sensing systems for robotics applications, as they offer maximum precision and repeatability needed to control and measure very fine movement, is anticipated to augment the demand in the market.
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