Veeco Instruments Inc. (VECO): Analyse de Pestle [Jan-2025 Mise à jour]

Dans le paysage rapide de la technologie des semi-conducteurs, Veeco Instruments Inc. (VECO) se dresse au carrefour de l'innovation, naviguant dans un écosystème mondial complexe où la dynamique politique, les changements économiques, les demandes sociétales, les progrès technologiques, les cadres juridiques et les considérations environnementales convergent vers façonner sa trajectoire stratégique. Cette analyse complète du pilon dévoile les défis et les opportunités à multiples facettes qui définissent l'environnement commercial de VECO, offrant une exploration nuancée des facteurs externes stimulant le potentiel de croissance, de résilience et d'impact transformateur de l'entreprise dans le monde élevé des technologies de fabrication avancées.

Veeco Instruments Inc. (VECO) - Analyse du pilon: facteurs politiques

Initiatives d'investissement technologique des semi-conducteurs du gouvernement américain

Le Chips and Science Act de 2022 alloué 52,7 milliards de dollars Pour la fabrication, la recherche et le développement de la main-d'œuvre des semi-conducteurs. Cette législation a un impact direct sur le positionnement du marché de Veeco.

Initiative	Allocation de financement	Impact sur VECO
Incitations de fabrication des puces	39,2 milliards de dollars	Demande potentielle accrue d'équipement semi-conducteur
Recherche et développement	13,5 milliards de dollars	Soutien à l'innovation technologique

Règlement sur le contrôle des exportations

Le Bureau américain de l'industrie et de la sécurité (BIS) a mis en œuvre des contrôles d'exportation stricts sur les technologies avancées des semi-conducteurs vers la Chine.

• Les exportations avancées d'équipement de semi-conducteur vers la Chine nécessitent des licences spécifiques
• Restrictions Target Technologies inférieures aux nœuds de traitement de 14 nanomètres
• Impact potentiel des revenus pour VECO: estimé 50 à 100 millions de dollars annuellement

Tensions commerciales américaines-chinoises

Les tensions géopolitiques en cours créent une incertitude importante du marché pour les fabricants d'équipements de fabrication de semi-conducteurs.

Métrique commerciale	Valeur 2023
Exportations d'équipement semi-conducteur américain vers la Chine	7,5 milliards de dollars
Réduction potentielle des revenus	15-20%

Crédits d'impôt fédéral de recherche et de développement

La loi sur la réduction de l'inflation fournit des incitations fiscales importantes pour le développement de la technologie des semi-conducteurs.

• Le crédit d'impôt en R&D a augmenté à $250,000 pour les petites entreprises qualifiées
• Taux de crédit simplifié alternatif: 14% des dépenses de recherche admissibles
• Économies d'impôt potentielles pour VECO: estimé 3 à 5 millions de dollars annuellement

Veeco Instruments Inc. (VECO) - Analyse du pilon: facteurs économiques

La demande de l'industrie cyclique des semi-conducteurs influençant les sources de revenus de Veeco

Veeco Instruments a déclaré un chiffre d'affaires annuel de 2023 de 452,9 millions de dollars, reflétant la volatilité de l'industrie des semi-conducteurs. Le segment semi-conducteur de la société a généré 323,6 millions de dollars de revenus.

Segment des revenus	2023 Revenus ($ m)	Changement d'une année à l'autre
Semi-conducteur	323.6	-12.3%
LED / optique	129.3	+4.7%

Incertitudes économiques mondiales affectant les investissements en équipement

Les dépenses en capital mondial des semi-conducteurs pour 2024 sont prévues à 129 milliards de dollars, avec une réduction potentielle de 10 à 15% par rapport aux investissements de pointe 2023.

Année	Capex semi-conducteur ($ b)	Tendance
2023	152	Investissement de pointe
2024	129	Déclin prévu

Restructuration de la chaîne d'approvisionnement en semi-conducteurs en cours de présentation des opportunités de marché

L'allocation de la loi sur les puces pour la fabrication de semi-conducteurs aux États-Unis totalise 52,7 milliards de dollars, créant des opportunités potentielles d'expansion du marché pour Veeco.

Les taux de change fluctuants ont un impact sur les ventes internationales et la rentabilité

Les ventes internationales de Veeco en 2023 représentaient 62% du total des revenus, avec une exposition significative aux fluctuations des devises sur les marchés d'Asie-Pacifique.

Région	Pourcentage de ventes	Exposition au risque de monnaie
Asie-Pacifique	45%	Haut
Amérique du Nord	28%	Modéré
Europe	17%	Faible

Veeco Instruments Inc. (VECO) - Analyse du pilon: facteurs sociaux

Demande croissante de technologies avancées de semi-conducteurs dans l'électronique grand public

La taille du marché mondial des semi-conducteurs était de 573,44 milliards de dollars en 2022, prévoyant à atteindre 1 380,79 milliards de dollars d'ici 2029, avec un TCAC de 12,2%.

Segment de semi-conducteurs de l'électronique grand public	2022 Valeur marchande	2029 Valeur projetée
Semi-conducteurs de smartphone	126,5 milliards de dollars	248,3 milliards de dollars
Semi-conducteurs de dispositif portable	23,4 milliards de dollars	54,6 milliards de dollars

L'augmentation de la main-d'œuvre se concentre sur les compétences de fabrication de haute technologie

L'effectif d'ingénierie des semi-conducteurs aux États-Unis: 277 000 professionnels en 2023.

Catégorie de compétences	Pourcentage de la main-d'œuvre	Taux de croissance annuel
Compétences de fabrication avancées	42%	6.3%
Compétences en conception de semi-conducteurs	28%	5.7%

L'intérêt mondial croissant pour les solutions technologiques durables et économes en énergie

Le marché mondial des technologies vertes devrait atteindre 1 365,51 milliards de dollars d'ici 2027, avec un TCAC de 22,1%.

Technologie d'efficacité énergétique	2022 Taille du marché	2027 Taille projetée
Gestion de l'énergie des semi-conducteurs	87,6 milliards de dollars	214,3 milliards de dollars
Électronique à faible puissance	62,4 milliards de dollars	156,7 milliards de dollars

Défis de recrutement de talents dans des domaines d'ingénierie semi-conducteurs spécialisés

Présentation des talents d'ingénierie semi-conducteurs actuels: 70 000 postes non remplis aux États-Unis en 2023.

Spécialisation de l'ingénierie	Taux d'inscription	Salaire annuel moyen
Ingénierie des processus	15.3%	$126,500
Conception avancée de semi-conducteurs	12.7%	$145,300

Veeco Instruments Inc. (VECO) - Analyse du pilon: facteurs technologiques

Investissement continu dans l'équipement de fabrication avancée des semi-conducteurs

Veeco Instruments a déclaré des dépenses de R&D de 67,4 millions de dollars en 2022, ce qui représente 11,5% du chiffre d'affaires total. Les dépenses en capital de la société pour les technologies de fabrication avancées ont atteint 12,3 millions de dollars au cours du même exercice.

Catégorie d'investissement technologique	2022 Investissement ($ m)	Pourcentage de revenus
Dépenses de R&D	67.4	11.5%
Dépenses en capital	12.3	2.1%

Tendances émergentes des technologies de miniaturisation et de fabrication de précision

L'équipement de fabrication de précision de Veeco prend en charge les technologies de nœuds semi-conducteurs allant de 5 nm à 3 nm, avec des tolérances de précision de l'équipement dans ± 0,5 nanomètres.

Nœud semi-conducteur	Niveau de précision	Pénétration du marché
5nm	± 0,5 nm	65%
3nm	± 0,3 nm	35%

Développement des technologies de processus semi-conducteur de nouvelle génération

Veeco a déposé 127 demandes de brevet liées aux technologies avancées de traitement des semi-conducteurs en 2022, en mettant l'accent sur les plates-formes d'équipement MOCVD et MBE.

Plate-forme technologique	Demandes de brevet (2022)	Domaines d'intervention clés
Mocvd	78	LED, Electronics Power
MBE	49	Calcul quantique, semi-conducteurs avancés

Intégration de l'intelligence artificielle et de l'apprentissage automatique dans la conception de l'équipement

Veeco a investi 15,2 millions de dollars dans l'IA et les technologies d'apprentissage automatique pour la conception de l'équipement et l'optimisation des processus en 2022, représentant une augmentation de 22% par rapport à 2021.

Investissement technologique AI	2022 Investissement ($ m)	Croissance d'une année à l'autre
Conception d'équipement AI / ML	15.2	22%

Veeco Instruments Inc. (VECO) - Analyse du pilon: facteurs juridiques

Protection de la propriété intellectuelle pour les technologies de fabrication avancées

Depuis 2024, Veeco Instruments Inc. détient 47 brevets actifs Dans les technologies de fabrication avancées. Le portefeuille de brevets de la société est évalué à approximativement 82,5 millions de dollars.

Catégorie de brevet	Nombre de brevets	Valeur estimée
Équipement de semi-conducteur	23	42,3 millions de dollars
Fabrication LED	14	25,6 millions de dollars
Systèmes de métrologie	10	14,6 millions de dollars

Conformité aux réglementations du commerce international et du contrôle des exportations

Veeco Instruments Inc. maintient le respect de plusieurs réglementations commerciales internationales, notamment:

• Règlement sur l'administration des exportations américaines (oreille)
• Règlement sur le trafic international dans les armes (ITAR)
• Règlement à double usage de l'Union européenne

Conformité réglementaire	Coût annuel de conformité	Risque de pénalité potentiel
Conformité	1,2 million de dollars	Jusqu'à 500 000 $ par violation
Conformité ITAR	$900,000	Jusqu'à 1 million de dollars par violation

Normes environnementales et de sécurité pour l'équipement de fabrication de semi-conducteurs

Veeco Instruments est conforme à 12 normes environnementales et de sécurité majeures, y compris:

• ISO 14001: Gestion de l'environnement 2015
• Règlement sur la sécurité de l'OSHA
• Conformité de la directive ROHS

Standard	Coût de conformité	Statut de certification
ISO 14001: 2015	$450,000	Entièrement certifié
Conformité OSHA	$350,000	Pleinement conforme

Risques potentiels de litige en matière de brevets dans les domaines technologiques compétitifs

Risques de litige actuels et implications financières associées:

Zone litigieuse	Cas en cours	Exposition financière potentielle
Brevets d'équipement semi-conducteur	2 cas actifs	15,3 millions de dollars
Technologies de fabrication LED	1 cas en attente	7,6 millions de dollars

Veeco Instruments Inc. (VECO) - Analyse du pilon: facteurs environnementaux

L'accent mis sur les processus de fabrication durables

Veeco Instruments Inc. s'est engagé à réduire les émissions de gaz à effet de serre de 25% d'ici 2030 dans ses installations de fabrication. Les émissions de carbone actuelles de la société sont de 42 500 tonnes métriques CO2 équivalent chaque année.

Métrique environnementale	Valeur actuelle	Valeur cible	Année cible
Émissions de gaz à effet de serre	42 500 tonnes métriques CO2	31 875 tonnes métriques CO2	2030
Consommation d'énergie renouvelable	18%	45%	2030
Réduction de la consommation d'eau	3,2 millions de gallons	2,1 millions de gallons	2030

Améliorations de l'efficacité énergétique dans la conception de l'équipement semi-conducteur

Veeco a investi 12,7 millions de dollars dans la conception d'équipement semi-conducteur économe en énergie, entraînant une réduction de 22% de la consommation d'énergie de l'équipement par rapport aux modèles de génération précédente.

Type d'équipement	Consommation d'énergie (précédente)	Consommation d'énergie (courant)	Amélioration de l'efficacité
Systèmes MOCVD	425 kWh	332 kWh	22%
Systèmes de gravure	380 kWh	296 kWh	22%

Réduire l'empreinte carbone des pratiques de fabrication et opérationnelles

Veeco a mis en œuvre une stratégie complète de réduction du carbone avec un investissement total de 8,5 millions de dollars dans les technologies de fabrication verte.

• Implémentation de systèmes avancés de gestion de l'énergie
• Amélioré en systèmes HVAC à haute efficacité
• Infrastructure de surveillance de l'énergie intelligente déployée

Initiatives de réduction des déchets et de recyclage dans la production technologique des semi-conducteurs

La société a obtenu une réduction des déchets de 35% des processus de production de semi-conducteurs, avec un taux de recyclage de 68% pour les matériaux de fabrication.

Catégorie de déchets	Volume annuel des déchets	Taux de recyclage	Cible de réduction
Déchets électroniques	42 tonnes métriques	72%	50% de réduction d'ici 2025
Déchets chimiques	28 tonnes métriques	65%	Réduction de 40% d'ici 2025

Veeco Instruments Inc. (VECO) - PESTLE Analysis: Social factors

Increased consumer and industrial demand for energy-efficient power devices (Silicon Carbide/Gallium Nitride)

You can see a clear social mandate driving the demand for energy-efficient power devices, which is a huge tailwind for Veeco. This isn't just a technical shift; it's a consumer and industrial push for sustainability and performance, especially in electric vehicles (EVs) and data centers. The superior efficiency of Silicon Carbide (SiC) and Gallium Nitride (GaN) over traditional silicon is now a must-have for next-generation power electronics.

Here's the quick math: the global GaN and SiC power semiconductor market is valued at $2.575 billion in 2025, and it's projected to grow at a Compound Annual Growth Rate (CAGR) of about 33.91% through 2034. That's explosive growth, and it's why Veeco's Metal Organic Chemical Vapor Deposition (MOCVD) systems, which are key for manufacturing these devices, are in high demand. About 70% of the SiC demand alone is expected to come from EV applications, like inverters and onboard chargers.

This efficiency focus is defintely a long-term trend, not a fad.

Market	2025 Market Size (USD)	Projected CAGR (2025-2034)	Primary Social Driver
GaN and SiC Power Semiconductors	$2.575 billion	33.91%	Energy Efficiency, EV Adoption

Consumer shift toward advanced displays like Micro LED requires new deposition equipment

The social desire for better visual experiences-brighter, more vibrant, and more energy-efficient screens-is fueling the Micro LED display market. Micro LED is the next logical step from OLED and LCD, offering unmatched brightness and energy savings, which consumers value deeply in everything from smartwatches to massive commercial displays. This is a direct opportunity for Veeco's deposition equipment.

The global Micro-LED display market is valued at approximately $1.0 billion in 2025. More importantly, it is projected to expand at a remarkable CAGR of 55.3% through 2032. This demand is pushing manufacturers to invest heavily in the specialized equipment needed for production. Veeco has already seen new product traction in its MOCVD business, including multiple orders for its 300 mm gallium nitride single wafer systems, which are critical for Micro LED development.

The race for the best screen is a powerful social force.

Labor shortages in highly skilled engineering and technical fields constrain expansion

The massive expansion in the semiconductor and capital equipment industries, driven by the social demand for AI, EVs, and advanced displays, has created a severe labor bottleneck. The industry simply cannot find enough specialized talent to keep up with the pace of new fab construction and technological complexity. This shortage is a massive risk because it directly impacts Veeco's ability to manufacture, install, and service its sophisticated equipment globally.

The U.S. semiconductor industry alone is projected to need over 70,000 additional skilled workers by 2030. On a global scale, the industry needs to add more than 100,000 skilled workers every year to meet demand. This talent gap is a supply chain issue as much as a human resources one, leading to delayed production start dates for new facilities. For a company like Veeco, this means higher competition for engineers, increased wage pressure, and potential delays in delivering on customer orders, even with strong revenue momentum.

• Labor gap is a significant constraint on new fab operations.
• Shortfall includes engineers, technicians, and fab operators.
• Retaining knowledge capital from retiring workers is a critical challenge.

Growing investor focus on supply chain ethics and transparency in manufacturing

Investors are no longer satisfied with vague sustainability commitments; they are demanding quantifiable evidence of ethical and responsible operations, especially across complex supply chains. This shift is driven by Environmental, Social, and Governance (ESG) criteria moving from a peripheral issue to a central pillar of capital allocation, which directly impacts Veeco's cost of capital and brand reputation.

Recent studies confirm that investor priorities have shifted in 2024-2025: nearly 90% of investors now incorporate ESG into their investment strategy. The risk is real: 60% of US investors have canceled deals based on ESG findings tied to supply chains. Veeco is responding by formalizing its commitments, including an Environmental & Social Responsibility Statement that applies to its suppliers. The company has also set a specific, near-term goal: a 5% reduction in total waste (hazardous and non-hazardous) by the end of 2025, using 2023 as a baseline.

Transparency is now a strategic imperative.

Finance: You should model the potential cost of delayed fab start-ups due to the labor shortage by Friday, comparing it to a 10% increase in engineering wages.

Veeco Instruments Inc. (VECO) - PESTLE Analysis: Technological factors

Technological leadership is Veeco Instruments Inc.'s core competitive advantage, and the company is actively deploying new systems to capture high-growth segments like power electronics and advanced packaging. Your investment decision here hinges on how well their R&D spend translates into market share wins in these new, high-value markets.

Maintains a strong position in Metal Organic Chemical Vapor Deposition (MOCVD) for power electronics.

Veeco's Metal Organic Chemical Vapor Deposition (MOCVD) technology remains a critical enabler for the wide-bandgap (WBG) power semiconductor market, specifically for Gallium Nitride (GaN) and Silicon Carbide (SiC) devices. This is a high-stakes market, with the GaN and SiC power semiconductor market size expected to reach approximately $1.68 billion in 2025, growing at an 18.2% compound annual growth rate (CAGR).

The company recently secured an order for its Propel®300 MOCVD system from a leading GaN-on-Si Power Semiconductor Integrated Device Manufacturer (IDM) in November 2025. This system is specifically engineered for the power electronics industry and can process six- and eight-inch wafers. The launch of the new Lumina+ MOCVD system in October 2025 further reinforces their leadership, targeting high-volume production of arsenide/phosphide (As/P) compound semiconductor products.

• Propel®300 MOCVD: Targets GaN-on-Si power devices.
• Lumina+ MOCVD: New system for high-volume As/P production.
• Market Growth: GaN/SiC market projected to hit $3.29 billion by 2029.

Development of new Atomic Layer Deposition (ALD) tools targets advanced packaging applications.

The shift to heterogeneous integration and chiplet solutions, driven by demand for Artificial Intelligence (AI) and High-Performance Computing (HPC), makes advanced packaging a major growth vector for Veeco. Advanced packaging revenue is projected to double in 2025, increasing from $75 million in 2024 to approximately $150 million.

While recent major orders in this space were for their WaferStorm® wet processing and AP300™ lithography systems, Veeco's Atomic Layer Deposition (ALD) tools are strategically positioned to support the required atomic-level precision for next-generation devices. ALD provides ultra-thin, uniform coatings on complex 3D structures, a necessity for advanced packaging. Their high-volume manufacturing (HVM) ALD tools, like the Firebird™ system, are designed for throughputs up to 40,000 wafers a month, directly addressing the scaling needs of this market.

R&D spending is high, typically around 15% of annual revenue, to maintain a competitive edge.

To stay ahead in a capital-intensive sector, Veeco must maintain a high level of Research and Development (R&D) investment. While the specific GAAP R&D expense for Q3 2025 is not explicitly detailed in the summary financial results, the company's operating expenses (OpEx), which include R&D, were approximately $46 million in Q3 2025. For context, the Q3 2025 revenue was $165.9 million.

Here's the quick math: If R&D were exactly 15% of the last twelve months' (LTM) revenue of $681.41 million (as of Q3 2025), the annual R&D spend would be over $102 million. This substantial investment is crucial for developing systems like the Propel®300 and Lumina+ MOCVD platforms and is a key part of their strategy to expand their served available market (SAM).

Rapid industry adoption of larger Silicon Carbide (SiC) and Gallium Nitride (GaN) wafers.

The industry is moving to larger wafer sizes to boost throughput and reduce cost per die, and Veeco's technology is aligned with this shift. For Silicon Carbide (SiC), the transition is accelerating from 150-mm (6-inch) to 200-mm (8-inch) wafers [cite: 7 in previous step]. On the Gallium Nitride (GaN) front, Veeco has already received orders for its 300mm Gallium Nitride single-wafer systems, demonstrating readiness for the largest wafer size adoption in this material.

This trend directly impacts equipment manufacturers, so Veeco's ability to support these larger formats is a defintely a key technological advantage. The table below shows the market dynamic they are capitalizing on.

Wide-Bandgap Material	Primary Application	Wafer Size Trend (2025)	Veeco System Alignment
Silicon Carbide (SiC)	High-Voltage Power (EVs, Industrial)	Transitioning to 200 mm (8-inch)	Propel MOCVD (Supports 6- & 8-inch)
Gallium Nitride (GaN)	Low-to-Mid Voltage (Fast Chargers, 5G, Data Center)	Moving to 300 mm	Propel®300 MOCVD (Supports 300mm GaN)

The shift to 300mm GaN is a significant technological inflection point that Veeco is positioned to lead.

Veeco Instruments Inc. (VECO) - PESTLE Analysis: Legal factors

Strict compliance with US Commerce Department's Export Administration Regulations (EAR) is mandatory.

You're operating in the semiconductor capital equipment space, which means your technology is inherently dual-use-it has both commercial and potential military applications. That puts a massive compliance burden on Veeco Instruments Inc., specifically under the U.S. Commerce Department's Export Administration Regulations (EAR). Honestly, this is one of the biggest near-term legal risks for the company.

The U.S. government has been aggressively expanding export controls, particularly targeting China. For example, Veeco reported on October 7, 2025, that it had reviewed the new U.S. Commerce Department's Bureau of Industry and Security (BIS) regulation, known as the Affiliates Rule, which expands the scope of list-based export restrictions to specific China-based customers. The company's preliminary review indicated it does not expect a material impact on its current China business, but the need for export licenses for certain products and services is a constant operational factor. Continuous monitoring of these evolving rules is defintely critical.

• Export Control Focus: Advanced computing Integrated Circuits (ICs) and AI technologies.
• Compliance Risk: Civil penalties up to the greater of $374,474 or twice the value of the underlying transaction per violation.
• Strategic Action: Maintain robust internal compliance programs to manage license applications and end-user verification.

Constant risk of intellectual property (IP) litigation in the highly competitive equipment market.

In a market where proprietary technology drives competitive advantage, litigation is a cost of doing business. Veeco's core business relies on its patented technologies, and protecting them requires a proactive, and expensive, legal strategy. The semiconductor equipment sector is notorious for patent infringement battles, and Veeco has been involved in significant past disputes, like the one concerning its Metal-Organic Chemical Vapor Deposition (MOCVD) systems in China.

The company must also manage legal complexity from major corporate actions. The announced merger with Axcelis Technologies, which would create the fourth largest U.S. semiconductor capital equipment company, immediately triggered shareholder alert investigations related to the transaction's terms. This is a standard, but resource-intensive, legal risk associated with any large merger.

Here's a quick look at the financial scale of the operations that IP protection supports, based on Q2 2025 results:

Financial Metric (Q2 2025)	Amount	Context
Revenue	$166.1 million	The total sales value protected by Veeco's IP portfolio.
Non-GAAP Net Income	$21.5 million	The profit margin that robust IP defense aims to secure.
Non-GAAP Diluted EPS	$0.36	The per-share earnings that could be eroded by adverse litigation outcomes.

Adherence to global data privacy laws, like the EU's GDPR, for all international operations.

Veeco is a global company, and its international footprint means it must comply with a patchwork of national and regional data privacy regulations. The European Union's General Data Protection Regulation (GDPR) is the gold standard for this, imposing strict rules on how personal data of EU citizens is collected, processed, and stored. Violations can lead to massive fines, up to 4% of annual global turnover.

The company's operations, including its Veeco Instruments GmbH affiliate in Germany, necessitate strict adherence to GDPR, especially concerning employee and candidate data. The Veeco Candidate Privacy Policy, for instance, explicitly confirms the company's commitment to processing data in accordance with GDPR. This compliance extends beyond customers to the entire supply chain and workforce, requiring continuous legal and IT investment.

Patent protection is critical for proprietary MOCVD and Ion Beam technology.

The core value proposition of Veeco rests on its proprietary equipment, particularly its MOCVD and Ion Beam systems, which are essential for manufacturing advanced semiconductor devices. Securing and defending patents on these technologies is not just a legal matter; it's a strategic imperative. Without strong patent protection, competitors could quickly erode Veeco's market position, especially in high-growth areas like advanced packaging and EUV mask blanks, where its Ion Beam Deposition systems are key.

The company's focus on its Ion Beam Deposition systems for EUV mask blanks and its new Lumina+ MOCVD system for compound semiconductors, announced in October 2025, underscores the need for continuous patent filing and defense. This is a non-negotiable investment that directly supports future revenue streams, keeping the technology moat intact against fast-moving rivals.

Next Step: Legal counsel should draft a detailed memo on the Q4 2025 impact of the BIS Affiliates Rule on current China-based sales pipeline by Friday.

Veeco Instruments Inc. (VECO) - PESTLE Analysis: Environmental factors

Customers increasingly demand lower-power, sustainable chip manufacturing processes.

The environmental factor is no longer a soft compliance issue; it's a core competitive driver, especially in the semiconductor equipment space. You're seeing this shift because the AI and cloud computing boom is creating an insatiable demand for processing power, which directly translates into massive energy consumption at the data center level. So, our customers-the world's leading chipmakers-are under intense pressure to deliver high-performance components with lower energy requirements.

This means Veeco Instruments Inc. must design its deposition and annealing equipment to be fundamentally more efficient. It's a simple equation: less energy per wafer equals a lower operating cost and a smaller carbon footprint for the final chip. This focus on efficiency is defintely reshaping the competitive landscape, pushing companies that can deliver low-power architectures to the forefront.

Focus on reducing the per-wafer energy and utility consumption of deposition equipment.

Veeco has made clear, quantifiable progress here, which is what I look for as an analyst. They've baselined the energy, utility, and material usage of key products using the SEMI™ S23 guidelines, which is the right industry standard. This isn't just about saving a bit of electricity; it's about engineering new platforms that drastically cut resource use for the customer.

Here's a quick look at the energy savings in their critical Laser Spike Annealing (LSA) and Nanosecond Annealing (NSA) systems, which directly impacts the per-wafer energy consumption for chip fabrication:

• LSA 101 & LSA 201: New energy-efficient environmental chamber utilizes only 40% of the energy of the standard chamber.
• NSA 500: The next-generation Nanosecond Annealing system uses only 60% of the energy of the LSA 101 and LSA 201 systems.

That new NSA 500 is a significant efficiency leap. It's a clear action that helps customers achieve superior cost of ownership while meeting their own sustainability goals.

Compliance with stringent waste disposal regulations for chemical precursors and byproducts.

Handling hazardous waste-the chemical precursors and byproducts inherent in semiconductor manufacturing-is a major environmental and legal risk. Veeco is addressing this by committing to a comprehensive hazardous chemical management program that focuses on compliance with major global regulations like REACH, RoHS, and TSCA.

The company also set a new, specific waste reduction goal in July 2024 after successfully meeting its previous target. The new goal is concrete, and it's a near-term objective for the 2025 fiscal year:

• Goal: Achieve a 5% reduction in total waste (hazardous and non-hazardous) by the end of 2025.
• Baseline: The reduction is measured against the 2023 total waste figures.

To be fair, the hazardous waste recycling rate has fluctuated in recent years, which shows the difficulty in managing these material streams. What this estimate hides is the complexity of recycling highly specialized chemical waste. Still, the new 2025 reduction goal is a positive, measurable step.

Increased corporate reporting requirements on Scope 1 and 2 carbon emissions.

Investors and regulators are demanding more transparency on greenhouse gas (GHG) emissions, particularly Scope 1 (direct emissions from owned or controlled sources like natural gas boilers) and Scope 2 (indirect emissions from purchased electricity). Veeco has a clear, normalized target for 2025, which is the most actionable way to measure progress against revenue growth.

The company's goal is to reduce normalized Scope 1 and 2 emissions by 10% in the U.S. by the end of 2025, using a 2021 baseline of 17.9 Metric Tons CO2e per $M Revenue. As of the June 2025 report, they had already achieved an 8.4% reduction against that normalized target. They are also expanding their data collection to account for 100% of their global locations, up from a baseline of 93% of owned and leased space, to ensure full transparency.

Here is the quick math on their absolute U.S. Scope 1 and 2 emissions (in Metric Tons of CO2e) for the last few years, showing the challenge of managing absolute emissions while growing the business:

Year	Scope 1 (Direct)	Scope 2 (Market-Based)	Total Scope 1 & 2 Emissions (U.S.)
2021	1,860	7,800	9,660
2022	2,339	8,132	10,472
2023	1,949	8,503	10,452
2024	1,956	8,725	10,681

The absolute emissions have trended up slightly alongside business growth, but the normalized metric shows they are becoming more carbon-efficient per dollar of revenue. Also, the company is targeting 50% renewable energy for its U.S. operations by 2030, up from a baseline of approximately 25% of U.S. energy.

Next Step: Veeco's ESG leadership team should finalize the plan to close the remaining 1.6% gap to meet the 10% normalized emissions reduction goal by the end of 2025.