The objective of the report is to perform a technology assessment and examine market trends under the domain of cutting tools, more specifically the design of drilling tools. The report is aimed at the current trends in the Global Drilling Tools Market. The key deliverables of the report are based on-
- Emerging technologies
- Scientific References including IP, Journals, articles, blogs, etc.
- Innovation Trends
- Market Trends including revenue, segmentation & growth analysis.
- Competitive Intelligence including Key-players, Merger & Acquisitions, etc.
Innovations in the design of drilling tool
Drill bit comprising a centering tip
The drill bit comprises a circumferential chip removal groove helically around a drill axis and a centering tip that prevents wear on the centric tip and improves the service life of the drill.
Rotary cutting tool
The rotary cutting tool prevents the tool from damage to the composite substrate during the cutting process.
Quadrangular indexable drill insert
The quadrangular indexable drill insert has four cutting edges and is separately used for drilling, i.e., one edge wears out the subsequent edge can be used for cutting.
Twist drill bit with a cutting tip
Such drills help to achieve better drilling quality with regard to dimensional accuracy and roundness and the small diameter is centered very well.
Challenges
- During the processing of super-hard and multi-layer composite material, the surface of conventional drill tools wears out rapidly. Further, the conventional drill tool has less tool life and it is also difficult to obtain the desired quality of the hole walls.
- Replaceable cutting-edge drills generally generate fine chips. But during the wet drilling process, the fine chip and coolant form sludge, and due to the drawback in the conventional design of replaceable cutting-edge drill, the sludge enters the contact section of the drill bit and adversely affects the drill life.
Innovations
Hawk-beak type nano-diamond-coated hard drill bit
The R&D group of Shanghai well sun precision tool (China), proposed a hawk-beak type (olecranon) nano-diamond-coated cemented carbide drill bit. The hawk-beak type nano-diamond drill bit design provides a better tool life with the addition of high machining hole accuracy and smooth surface of holes. This design has a good chip-breaking effect, smooth chip removal, good heat dissipation conditions and high tool durability. The hawk-beak type nano-diamond drill bit has the following features:
- The nano-diamond coating on the outer surface increases the service life of the cutter by more than 10 times.
- The rake angle of the full arc-shaped notch is 20–30 degrees, which leads to an increase in the cutting edge.
- The drill has a thin chisel edge design and the width of the chisel edge is 0.05 mm to 0.15 mm after being sharpened.
Blade edge replaceable drill with high tool life
The R&D group of Mitsubishi materials (GE) improvised a replaceable cutting-edge drill, which prevents the sludge to enter the drill bit. The drill with a replaceable cutting edge consists of a cutting insert body, and a drill body. Further, the drill body and insert body have a configuration as follows:
The cutting insert body is attached to the drill body and a convex portion is formed at the tip of the contact surface. And the contact surface is covered with the insert body so that it is not exposed to the tip of the drill.
The improvised replaceable cutting-edge drill prevents the wall surface and the contact surface from being worn by such sludge and also increases the tool life. The replaceable cutting-edge drill reduces stress, acting on the circumference of the insert mounting section and performs high-precision drilling.
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Market Insights
Global Drilling Tools Market revenue is expected to expand at a CAGR of 5.8%. The numbers are expected to reach a value of US$ 10.73 Bn by 2027 from US$ 8.09 Bn in 2022 over the forecast period.
North America is dominating the Global Drilling Tools Market due to the increasing shale gas production and the new energy reforms from the US government. North America is also expected to be the fastest-growing market, followed by Asia Pacific.
Market Segmentation
This section of the report shows the market segmentation based on different factors.
- By Tool Type, the market is segmented into Drill Bits, Drill Collars, Drilling Jars, Drilling Motors, Drilling Tubulars, Drill Swivels, Drill Reamers & Stabilizers, Mechanical Thrusters and Shock Tools.
- By Application, the market is segmented into Onshore and Offshore.
- By Geography, the market is segmented into Europe, North America, APAC, and RoW.
OSG Corp. acquires Fiudi
OSG Corp. acquired Fiudi to further expand global sales channels. OSG will strive to enhance its competitiveness by expanding its business partners. And further offering a wide selection of products to accommodate increasing demand in the automotive industry.
Recent Commercialized Products- Drilling Tools
RT 100 XF High-Performance Carbide Drill Tools
In November 2019, Guhring (U.S.) introduced an RT 100XP high-performance carbide drill tool. The RT 100XP carbide drill tool has a specific feature wherein Double margins engage immediately. And it results in improved concentricity and straightness, as well as an excellent surface finish. Polished flutes improve chip evacuation, significantly reducing machining temperature, which prevents work hardening and protects the cutting edges.
Tritan-Drill-Reamer combines drilling
In April 2021, Mapal (GE) introduces a Tritan-Drill-Reamer combines drilling, drilling and reaming in one tool. The tool has three drilling edges and can ream in one motion.
The self-centering cross-cutting edge ensures good positioning, accuracy and improved tapping behaviour. Three cutting edges provide an optimal roundness of the fit bore and maximum performance. The reaming edge creates the best surfaces.
Key Players
This section of the report highlights the key market players working on the drilling tools.
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