About Deep Hole Drilling
Deep hole drilling into metal has a range of applications across several industries, with its origins tracing back to the need for straighter, more accurate gun barrels, and expanding as other industries integrated deep hole drilling processes to improve their own applications. Deep hole drilling process that uses a long, thin cutting tool to produce holes in metal at high depth-to-diameter ratios. High usage of gun drilling due to applications in medicine as well as surgical devices will help to expand the global deep hole drilling market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Manufacturers will contribute the maximum growth to Global Deep Hole Drilling market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
TBT (Germany), Mollart (England), Kays Engineering (United States), Entrust Manufacturing Technologies, Inc. (United States), GSM (China), Galbiati Group (Italy), Wim (Hong Kong), IMSA (Italy), Precihole (India), Miroku (Japan), Honge Precision (Taiwan), TIBO (Germany), Dezhou Jutai (China), WIDMA and CHETO are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Deep Hole Drilling market by Type (Gun drilling and BTA / STS), Application (Aerospace, Automotive, Machine Tools, Construction, Mining, Oil & Gas, Energy, Military & Defense, Die Mould, Heat Exchanger Plate Machining, Medical, Electronics and Others) and Region.
On the basis of geography, the market of Deep Hole Drilling has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2022. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Sales Channel of Machine, the sub-segment i.e. Online will boost the Deep Hole Drilling market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption of Gun Drilling Due To Applications in Medical and Surgical Devices and Upsurging Demand in Aerospace Industry
Market Growth Drivers:
Rising Demand in the Aerospace Industry and Increasing Application in Metallic as well Non-Metallic Component
Challenges:
Machine stability
Restraints:
Not Applicable for Less than 6 Millimeters Thickness Component
Opportunities:
Technical Advancement in Deep Hole Drilling Machines
Market Leaders and their expansionary development strategies
In October 2023, Kennametal and Baker Hughes announced a joint venture which develop and manufacture deep hole drilling products and services. The joint venture will leverage Kennametal's expertise in cutting tools and Baker Hughes' expertise in drilling technology to develop new and innovative deep hole drilling solutions.
In September 2023, Boart Longyear has launched a new line of drilling tools called IMPAKT, which are designed specifically for underground long hole drilling.
Key Target Audience
Deep Hole Drilling Manufactures, Deep Hole Drilling Suppliers/ Distributors, Government Regulatory Bodies, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.