Published: Mar-2021 | Format: PDF | Market Research Store | Number of pages: 110 | Code: MRS - 828549
According to the report published by Market Research Store, global demand for Aerospace 3D Printing Market was valued at approximately USD 1183.4 Million in 2019, and is expected to generate revenue of around USD 6921.6 Million by end of 2026, growing at a CAGR of around 28.7% between 2020 and 2026.
Global Aerospace 3D Printing Market: Overview
3D printing is the additive manufacturing process in which three dimensional is created from the digital file. This 3D object is manufactured by use of additive processes in which layers of material are laid down until the final object is created. 3D printing enables to produce complex shapes using less material than traditional manufacturing methods. Aerospace industry was the early adopter of this technology and continues to use it making advancement in the technology. Aerospace industry benefitted with additive manufacturing as it provided lighter and strong parts as compared to traditional manufacturing.
Global Aerospace 3D Printing Market: Growth Factors
The global Aerospace 3D Printing Market is expected to expand due to increased adoption of 3D printing technology by the manufacturer owing to plethora of reasons. 3D printing enables to manufacture strong and lightweight structures as a result of which cost is saved in material as well as in fuel consumption. Industrial 3D printing enables a wide range of design optimizations – from part customization and upgrades to exclusive innovations that can only be manufactured additively. Accuracy plays an important role in aerospace manufacturing and slight error may have significant cost increase in the production and operation. Thus, accuracy of the 3D printing assist in increasing the efficiency of the engine and low carbon emission is achieved. 3D printing is integrated at all the stages of product development such as design, validation, pre-production, production and customization. Similarly increased investments in defence aerospace sector and commercialization of space industry are expected to drive the market of aerospace 3D printing market. Faster production cycle, cost saving, increased flexibility and customization are important attributes of 3D printing that are also required for efficient aerospace manufacturing. Therefore, in coming years complementary relation between two industries is likely to produce positive growth.
Global Aerospace 3D Printing Market: Segmentation
The global Aerospace 3D Printing Market is segregated based on the industry as aircraft, unmanned aerial vehicles (uavs), spacecraft. Spacecraft segment will see higher growth owing to increased commercialization of space.By Technology the market is divided as stereolithography (sla), continuous liquid interface production (clip), fusion deposition modelling (fdm), direct metal laser sintering (dmls), selective laser sintering (sls), others. By application the market is bifurcated as engine components, structural components, others
Global Aerospace 3D Printing Market: Regional Analysis
In 2020, the North American market for aerospace 3D printing is expected to be the biggest. Countries in the North American region, such as the United States and Canada, are seeing an increase in the use of 3D printing technology in the aerospace industry. With several OEMs, and raw material suppliers, sector players, the region is the world's production hub of the aviation industry. Major 3D printer manufacturers have also set up shop in the area to meet the surging growth of 3D printers and products in the region. Due to competition for lightweight aircraft parts, the aerospace 3D printing markets in Europe are also anticipated to widen significantly. In the same time frame, Asia-Pacific is anticipated to witness the fastest aerospace 3D printing market, owing to a rising presence of OEMs and sector players looking to capitalize on increased competition from key countries such as China, Japan, and India.
Global Aerospace 3D Printing Market: Competitive Players
Major players in the market are MTU Aero Engines AG, Stratasys Ltd., Ultimaker B.V., 3DSystems Corporation, Arcam AB, The Exone Company, Höganäs AB, EOS GmbH, Materialise NV, Envisiontec GmbH, Norsk Titanium, and Aerojet Rocketdyne among others.
Aerospace 3D Printing Market: Regional Segment Analysis
Aerospace 3D Printing
Aerospace 3D Printing