FARO Technologies Pushes 3D Metrology Forward with New FARO Leap ST
Rhea-AI Summary
FARO Technologies (Nasdaq: FARO) has launched the FARO Leap ST, a new handheld scanner expanding its 3D metrology product portfolio. The device features five operating modes: ultra-fast scanning, hyperfine scanning, deep hole scanning, large area scanning, and photogrammetry. This launch is accompanied by an update to FARO CAM2 Software, which now includes five tailored versions for different manufacturing measurement needs.
The metrology-grade tool is designed for measuring and verifying various surfaces and parts, offering a compact and portable solution suitable for multiple industries. The updated CAM2 software provides options for scanning devices, probing devices, and a hybrid approach integrating both functionalities. RFK Racing, an eight-time NASCAR champion and existing FARO customer, has endorsed the new scanner for its potential to enhance manufacturing efficiency.
Positive
- Launch of new product (FARO Leap ST) expanding company's metrology portfolio
- Enhanced software offering with five new versions of CAM2
- Endorsement from major customer (RFK Racing)
- Strengthened market position in manufacturing sector
Negative
- None.
Insights
The launch of FARO Leap ST represents a strategic expansion in the company's metrology portfolio, positioning FARO among an elite group of manufacturers offering comprehensive portable 3D measurement solutions. The product's five operating modes - ultra-fast scanning, hyperfine scanning, deep hole scanning, large area scanning and photogrammetry - create a compelling value proposition in the industrial metrology market.
The parallel release of the updated CAM2 software, with five specialized versions, demonstrates FARO's commitment to creating an integrated ecosystem. This software-hardware synergy could potentially drive higher margins through bundled solutions and reduce customer churn by increasing switching costs. The standardization of data handling within CAM2 addresses a critical pain point in manufacturing workflows.
The timing of this launch, following multiple product releases in 2024, suggests FARO is executing an aggressive product development strategy to capture market share in the growing industrial metrology sector, projected to reach
Key competitive advantages include:
- Versatility across multiple scanning modes, reducing the need for multiple devices
- Integration with existing FARO ecosystem through CAM2 software
- Compact, portable design suitable for diverse manufacturing environments
While the immediate revenue impact may take several quarters to materialize, this launch strengthens FARO's competitive position in the industrial metrology market, particularly in sectors requiring high-precision measurements and quality control.
A Versatile Handheld Scanner for Greater Insights
Lake Mary, Fla, Jan. 23, 2025 (GLOBE NEWSWIRE) -- FARO® Technologies, Inc. (Nasdaq: FARO) has entered a new category of handheld scanning with the launch of FARO Leap ST®. The new handheld solution expands the company’s product portfolio, making FARO one of the few companies offering customers a complete range of portable 3D metrology devices. It strengthens FARO’s presence across the manufacturing sector, where speed, accuracy, and throughput are key. FARO paired this launch with an update to its FARO CAM2® Software, for a simple and effective way to scan parts.
“We wrapped up 2024 with a series of exciting new product launches, and we’re kicking off 2025 with the same momentum,” said FARO President & CEO Peter J. Lau. “Leap ST underscores our dedication to the manufacturing sector and 3D metrology, the backbone of FARO Technologies for over 40 years. Along with our updated CAM2 software, we’re confident that Leap ST will significantly impact our customers and the wider industry.”
Leap ST features five powerful operating modes: ultra-fast scanning, hyperfine scanning, deep hole scanning, large area scanning, and photogrammetry. As a metrology-grade tool, it excels at measuring and verifying a variety of surfaces and parts. The design is compact, portable, and suitable for multiple industries and applications.
Additionally, FARO enhanced its 3D metrology software offerings with the update of CAM2. The software now includes five tailored versions that address specific manufacturing measurement requirements. CAM2 now offers options for scanning devices and probing devices, as well as a hybrid approach that integrates probing and scanning for solutions such as the FaroArm with laser line probes.
RFK Racing, an existing FARO customer and eight-time NASCAR champion praised Leap ST. “The new handheld scanner will seamlessly integrate into our processes, further boosting our manufacturing efficiency,” said Kevin Kidd, Director of Software and Analytics. “The unification of FARO data in CAM2, a software we’ve already adopted, will allow us to streamline information into one cohesive and connected system."
Leap ST and CAM2 are now available in all regions; customers can book a demonstration on FARO.com.
About FARO
For more than 40 years, FARO has provided industry-leading technology solutions that enable customers to measure their world and then use that data to make smarter decisions faster. FARO continues to be a pioneer in bridging the digital and physical worlds through data-driven, reliable accuracy, precision, and immediacy. For more information, visit www.faro.com.
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FAQ
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