However, Lithuanian laser producers, which mostly supply products to academic institutions, understand that this market is limited and are increasing efforts to enter the industrial laser market, it writes.
The Lithuanian Laser and Light Science and Technology Association says that Lithuanians are among the leaders in the world academic laser market, with their solutions accounting for an estimated 10 percent of the market. However, the industrial laser market is much larger and more profitable.
Petras Balkevičius, the association's executive director, says that although the Lithuanian laser sector is growing by 20 percent annually, the academic market has little room for growth. Therefore, laser producers are taking concrete steps to enter the industrial market.
Ekspla and Šviesos Konversija are Lithuania's two biggest laser companies, accounting for around half of the industry's total revenues.
