According to research report titled ‘Global Deep Hole Drilling Machines Market Size study, by Type (BTA Drilling Machines and Gun Drilling Machines), by Operation (CNC and Non-CNC), by Application (Automotive, Aerospace & Defense, General Machinery and Others) and Regional Forecasts 2020-2027’ available with Market Study Report, global deep hole drilling machines market was worth USD 519.02 million in 2019 and is speculated to reach USD 654.67 million by 2027, growing at a rate of 5.8% throughout.
 

Rising focus on e-mobility, implementation of automation technologies, and preference for highly precise surgical tools for medical use are leading factors boosting the global deep hole drilling machines market. Moreover, these machines are manufactured using titanium and surgical grade steel resulting in anti-corrosion properties and high strength to weight ratio, which favors their usage by surgeons for medical implants.
 

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Notably, deep hole drilling machine refers to a metal-cutting machine tool which is used to drill deep holes in metal with high precision. These machines are highly efficient and ensure straightness.
 

The report cites that strategic moves by leading companies like mergers, alliances, product launches and others also facilitate market expansion. For example, Mollart Engineering Ltd. launched the novice BTA machine HD1-3000 in August 2017 thus expanding its product range. This machine is equipped with double rotation facility and can drill holes of up to 3000 mm long.
 

On the other hand, instability in raw material costs, and shortage of skilled labor are factors hampering global deep hole drilling machines industry outlook.
 

Based on types, worldwide deep hole drilling machines market is bifurcated into gun drilling machines, and BTA drilling machines. Moving on to operation scope, the industry is divided into CNC and non-CNC. Speaking of application range, the marketplace is classified into general machinery, aerospace & defense, automotive, and others.
 

From the regional frame of reference, North America captured majority of worldwide deep hole drilling machines market share in the past year. Expansion of aerospace, automotive, and manufacturing sectors has raised demand for machine tools in the region, generating revenues. Meanwhile, Asia Pacific market is projected to record the highest y-o-y growth rate through 2027.
 

Key players profiled in the report are Cheto Corporation SA, KGD Co. Ltd., Hochent (Shanghai) Machinery Development Co. Ltd., Mollart Engineering Ltd., Entrust Manufacturing Technologies Inc., I.M.S.A. S.r.l., Hong Ji Precision Machinery Ltd., Botek Präzisionsbohrtechnik GmbH, TIBO Tiefbohrtechnik GmbH, and TBT Deep Drilling GmbH + Co. (TBT Tiefbohrtechnik GmbH + Co.).