Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 59

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 59
---
 

Our Markets

We broadly classify our principal end markets as material processing, medical procedures, advanced applications and communications. With the sale of our telecom transmission product lines in August 2022, we no longer intend to target 

6

communications as a principal market. The following table shows the allocation of our net sales (in thousands) among our principal markets:

 Year Ended December 31, 202420232022  % of Total % of Total % of TotalMaterials processing$857,336 87.7 %$1,152,804 89.5 %$1,291,262 90.3 %Medical procedures61,040 6.3 %71,571 5.6 %70,402 4.9 %Advanced applications53,778 5.5 %55,576 4.3 %54,308 3.8 %Communications4,980 0.5 %7,488 0.6 %13,575 1.0 %Total$977,134 100.0 %$1,287,439 100.0 %$1,429,547 100.0 %

These estimates are based upon customer information and when customer information has not been provided, upon our best information and belief.  

Materials Processing 

The most significant materials processing applications for fiber lasers are welding and brazing and cutting. Other applications include marking and engraving, cleaning, additive manufacturing such as laser sintering and 3D printing, precision processing, drilling, heat treating, annealing and heating and drying.

 Welding and Brazing Applications.  Laser welding offers several important advantages compared to conventional welding technology as it is non-contact, precise, easy to automate, provides high process speed and results in narrow-seamed, high-quality welds that generally require little or no post-processing machining. The high beam quality of our fiber lasers coupled with high CW power offer deep penetration welding as well as shallow conduction mode welding. Adjustable mode beam (AMB) lasers allow beam tunability for spatterless, precise high-quality welding required in electric vehicle battery manufacturing.  In addition, fiber lasers enable remote welding "on the fly," a flexible method of three-dimensional welding in which the laser beam is positioned by a robot-guided scanner. Remote welding stations equipped with fiber lasers are used for welding door panels, seat backs, spot and lap welds over the