Materials processing is one good reason that ultra-short pulse lasers (aka, ultrafast lasers) are winning awards such as the German Future Prize. They are being integrated into many industrial manufacturing processes and will find many more applications in the future.
For the basics on ultrafast lasers, LFW contributing editor Jeff Hecht has a gift for clarity:
ULTRAFAST LASER PROCESSING: Ultrafast lasers make ultraprecise tools
To learn about the different ultrafast lasers that are available and how the manufacturing world is using them, read this informative article by Ron Schaeffer at Photomachining:
USP lasers: A hot topic in laser manufacturing
For an in-depth explanation of how ultrafast lasers are used to improve fuel efficiency in automobile fuel injectors, here's an article by Michael Mielke at Raydiance:
INDUSTRIAL LASERS: The hole story: Femtosecond manufacturing improves automobile fuel efficiency
The work by winners of the German Future Prize is described in this article, which also includes a great video from Robert Bosch on ultra-short pulse lasers used on automobile fuel injectors:
Ultrafast laser team wins German Future Prize
And this year's prestigious Schawlow Award was given for—you guessed it—work on ultrafast lasers:
Ultrafast laser researcher Ursula Keller wins 2013 LIA Schawlow Award