SAN JOSE -- Sales of laser drills will reach $4.9 billion by 2020, driven by robust demand from the consumer electronics, aerospace and defense, medical device and other sectors, a new forecast says.

The market for laser drills has been recovering since 2010, aided largely by the resurgence of growth fundamentals in key end-use sectors. Current growth is driven by steady gains in global GDP performance, and improving industrial and manufacturing activity, as indicated by the relatively stable global manufacturing Purchasing Managers Index, says Global Industry Analysts, which developed the study.
 
Future growth will be spearheaded by the consumer electronics sector, supported by spiking demand for smartphones and tablet PCs.
 
Asia-Pacific is both the largest market and the fastest-growing, with a CAGR of 11.1% over the analysis period.