In the context of machining, a cutting tool (or cutter) is any tool that is used to remove material from the workpiece by means of shear deformation.Cutting may be accomplished by single-point or multipoint tools.Single-point tools are used in turning, shaping, plaining and similar operations, and remove material by means of one cutting edge.Milling and drilling tools are often multipoint tools.Grinding tools are also multipoint tools.Each grain of abrasive functions as a microscopic single-point cutting edge (although of high negative rake angle), and shears a tiny chip. Cutting tools must be made of a material harder than the material which is to be cut, and the tool must be able to withstand the heat generated in the metal-cutting process.Also, the tool must have a specific geometry, with clearance angles designed so that the cutting edge can contact the workpiece without the rest of the tool dragging on the workpiece surface.The angle of the cutting face is also important, as is the flute width, number of flutes or teeth, and margin size.In order to have a long working life, all of the above must be optimized, plus the speeds and feeds at which the tool is run. Types Linear cutting tools include tool bits (single-point cutting tools) and broaches.Rotary cutting tools include drill bits, countersinks and counterbores, taps and dies, milling cutters, and reamers.Other cutting tools, such as bandsaw blades and fly cutters, combine aspects of linear and rotary motion.Also hack saws and Bench saws. Cutting tools with inserts (indexable tools) Cutting tools are often designed with inserts or replaceable tips (tipped tools).In these, the cutting edge consists of a separate piece of material, either brazed, welded or clamped on to the tool body.Common materials for tips include tungsten carbide, polycrystalline diamond, and cubic boron nitride.Tools using inserts include milling cutters (endmills, fly cutters), tool bits, and saw blades. Solid cutting tools The typical tool for milling and drilling has no changeable insert.The cutting edge and the shank is one unit and built of the same material.Small tools cannot be designed with exchangeable inserts. Holder To use a cutting tool within a CNC machine there is a basic holder required to mount it on the machines spindle or turret. Tool setup The detailed instruction how to combine the tool assembly out of basic holder, tool and insert can be stored in a tool management solution. Source:En.Wikipedia.Org
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http://en.wikipedia.org/wiki/Cutting_tool_(machining)