This is called the Chuck.
A high-quality ER collet performs a fantastic job at holding things in its place. Drill bits spin rapidly and strong forces will be placed on the drill and the drill. Without a collet that holds the drill bit, it won’t remain in place.
A spring steel alloy, the ER collet might be the most popular clamping device. This chuck for collets is typically employed to bore, mill and grinding among various other jobs.
A well-designed colletchuck is able to give you gripping force and strength over your drill bit or whatever other thing that is fixed in its place. It ensures a firm grasp and security.
Collet wrenches are also very beneficial tools that offer a tight grip, making an excellent choice for using with nuts that are difficult to work with or similar. There are many people who have collets within their toolboxes due to the adaptable they are.