The Business Communications Co., a market research firm based in Norwalk, Conn., has released a review of the optical materials and engineering industry, projecting an average annual growth rate of 5.9 percent for optical materials despite military cutbacks.
The report predicts that the market for advanced optical materials will climb to $682 million by 2000. The optical lasers market is expected to reach $1.9 billion at the turn of the century; detectors and sensors should grow to $924 million. Other optical components are expected to grow at a 6.5 percent average annual growth rate to $1 billion. Nonlinear materials should grow at 9.4 percent rate to $72 million.
The firm attributes the moderate growth rates to the substantial research and development efforts in the industry.