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By Faith Ashmore, Benzinga
Laser Photonics Corporation (NASDAQ: LASE) (“LPC”) is a leading global industrial developer of CleanTech laser systems for laser cleaning and other material applications. The company is best known for its specialization in integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre- and post-welding, laser cleaning and surface conditioning which address the needs of a wide variety of industries. In order to maintain its position and drive growth, the company has implemented strategic plans that could position it at the forefront of technological advancements and trends in its industry.
One key initiative is the enhancement of its AI and Internet of Things (IoT) capabilities. By integrating artificial intelligence and IoT technologies into its laser technology, LPC is able to offer cutting-edge solutions that improve the customer experience and aim to stay ahead of technological advancements. The company also offers on-site customer support and training with AI and IoT integration, further distinguishing itself from competitors.
The global blasting market is projected to grow to $12 billion by 2025, and as more industries rely on laser technology, LPC may benefit from rising demand. The company has developed strategic partnerships with large distributors to expand its global sales network. By doing so, the company is ensuring that its innovative laser technology reaches a broader audience and remains accessible to industries globally. The success of its approach is evidenced by the fact that the company has worked with world-renowned companies and institutions like NASA, the U.S. Navy, the U.S. Army, Caterpillar Inc. (NYSE: CAT) and General Electric Co. (NYSE: GE), to name a few.
LPC has also made it a priority to vertically integrate through key acquisitions. By acquiring or merging with suppliers or distributors, it reduces reliance on other businesses and exerts greater control over the quality, cost and availability of inputs or outputs. This enables LPC to optimize its supply chain operations and reduce costs associated with procurement, management, and distribution.
Environmental stewardship is another LPC priority. The company is committed to delivering eco-friendly and sustainable solutions that help industries worldwide reduce their ecological footprint. LPC reports that its CleanTech technology uses no harmful chemicals or substances while achieving fast and accurate cleaning results, and its advanced productivity and safety features secure its reputation as a safer, more efficient option while ensuring operators are protected from the hazards of traditional systems. Companies that adhere to or exceed environmental regulatory requirements position themselves better in their markets as the world acts to combat climate change.
In the long term, LPC is focused on expanding its Customer Experience Center (CEC) to provide a state-of-the-art facility for presenting and demonstrating its technology. The CEC showcases LPC’s capabilities to customers globally and facilitates customized solution collaborations on a global scale.
The company continuously expands its product line with cutting-edge solutions such as MARLIN, DefenseTech and SaberTech demonstrating its commitment to meeting the evolving needs of industries across the globe. LPC’s robust research and development team is intensifying its efforts in developing Class I systems to maintain its competitive edge and meet the growing demand driven by increased regulations and restrictions.
By maintaining a leading-edge presence in a range of industries, LPC seems to have earned its position as a trusted and safety-focused partner, offering state-of-the-art solutions that meet customer needs worldwide.
Featured photo by SpaceX on Unsplash.
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