Veeco Instruments Inc (NASDAQ: VECO) is a semiconductor process equipment company that manufactures advanced systems used in the fabrication of chips, photonics devices, displays, and data storage components. Revenue comes from selling capital equipment, including ion beam, laser annealing, MOCVD, CVD, advanced packaging lithography, single wafer wet processing, MBE, and ALD systems, to semiconductor and electronics manufacturers worldwide. Headquartered in Plainview, New York, and incorporated in Delaware in 1989, Veeco serves a global customer base with sales and service operations across Asia and other regions. Its equipment addresses materials engineering challenges in the production of AI chips, high-performance computing processors, mobile application processors, 5G RF filters and power amplifiers, 3D sensing photonics devices, advanced displays, and thin film magnetic heads for hard disk drives. The company operates at the capital equipment layer of the semiconductor supply chain, where customer purchasing cycles are tied to fab capacity expansion and technology node transitions.

Revenue model

Veeco generates revenue through transactional sales of semiconductor process equipment systems. Additional revenue comes from aftermarket services, spare parts, and upgrades tied to its installed base of equipment at customer fabs.

Products and services

Ion beam systems, laser annealing systems, MOCVD systems, CVD systems, advanced packaging lithography systems, single wafer wet processing systems, MBE systems, and ALD systems. Products serve high-volume semiconductor and electronics manufacturing.

Customers and end markets

Customers are semiconductor device manufacturers and electronics fabricators. End markets include AI chips, high-performance computing, mobile devices, 5G RF filters and power amplifiers, 3D sensing and photonics, advanced displays, and hard disk drive thin film magnetic heads.

Value-chain role

Capital equipment supplier to semiconductor and electronics fabs. Veeco sits upstream of chip manufacturers, providing the process tools used in wafer-level fabrication.

Geographic exposure

Global customer base with sales and service operations across Asia and other regions. Headquarters in Plainview, New York, incorporated in Delaware (1989).

Source: SEC 10-K, filed 2026-02-25

Industry: Special Industry Machinery, NEC Peers: ACM Research Inc Applied Materials Inc Axcelis Technologies Inc Cohu Inc FormFactor Inc Ichor Holdings Ltd Onto Innovation Inc PDF Solutions Inc Photronics Inc Ultra Clean Holdings Inc