The global deep hole drilling machine market is valued at approximately US$510.02 million in 2019 and is expected to grow at a healthy growth rate of over 5.8% during the forecast period of 2020-2027.
A deep hole drilling machine is a metal cutting machine that can drill very deep precision holes in any metal. The deep hole drill is composed of BTA drill and gun drill to optimize the deep hole drilling process. It is used to optimize the process to improve straightness and efficiency. Deep hole drilling machines are widely used in medical and health care, aerospace and defense, automobiles, general machinery and other fields. In medical implants, deep hole drilling machines have vital applications because surgical tool manufacturers use special surgical grade steel and titanium, which have high corrosion resistance and high strength-to-weight ratio. Therefore, increased attention to electric vehicles, the demand for high-precision surgical tools in medical applications, and the inclusion of automation technology in deep hole drilling machines are factors for market growth during the forecast period. In addition, strategic alliances such as product launches, acquisitions, and mergers of major market participants will accelerate the demand for the market.
Post time: Jun-03-2021