LASER based inspection systems are widely used in precision manufacturing system in the recent years. LASER CMM in which a LASER probe attached to Co-ordinate measuring machine is capable rapid measurement of complex 3D sculptured geometry. These machines are capable of capturing large number of data points in the order of thousand of points per second with good accuracy. This inspection is non contact, suitable for fragile and soft components and it is faster and complete surface profile data available in least time. This paper describe various applications of LASER inspection for precision component like turbine blade wax pattern and ceramic core and also describes the development of land based power generation turbine blade through reverse engineering methodology.