This paper gives a survey of the possibilities and limitations concerning precision laser machining of different materials used in microsystems. The presented investigations were performed using 193 nm and 248 nm excimer, frequency converted Nd:YAG and 780 nm Ti:Sapphire femtosecond laser radiation. Besides providing technologies for precise and micro laser machining, the examinations were focused on reducing machining time and costs. The importance of adapted processing techniques, including the use of flexible masks in combination with excimer lasers is presented. Depending on the target material and processing parameters, different machining techniques are discussed. Since one single laser type cannot serve to fulfill all requirements in cutting, material removal, drilling, surface structuring, or metallization, each application asks for a well-considered system choice, and a specific process optimization.