Fonon Announces Growth Strategy

Material processing developer Fonon Corp. has announced its market growth strategy through the targeting of three growth markets

The company has announced its focus on the 3D additive manufacturing and metal printing systems market, which is expected to reach a value of $8.43 billion by 2020, at a compound annual growth rate of 14.37 percent; the flat panel display and derivatives market, expected to reach $135 billon by 2020; and the laser-based materials processing market, which is expected to reach $17.26 billion by 2020 with a compound annual growth rate of 10.2 percent.

Fonon has transitioned from an early-stage development company to a sustaining growth stage company by securing turnkey manufacturing production lines and staff to support all system products. The company has also obtained the rights to over 100 standards and specialized industrial-grade systems for the flat panel display and laser-based materials processing markets.

Fonon develops industrial-grade 3D additive and subtractive laser-based material processing systems for the aerospace, medical, defense, space, automotive, industrial, semiconductor and energy fields.