11-Mar-2021 | Market Research Store
As per the report published by Market Research Store, global demand for Aerospace 3D Printing market was valued at approximately 1183.4 Million in 2019, and is expected to generate revenue of around 6921.6 Million by end of 2026, growing at a CAGR of around 28.7% between 2020 and 2026.
3D printing is an advanced technology where a 3D printer receives an order from the software program and creates a 3D product. The 3D printer is used in various industries, including manufacturing, aerospace, and medical industries.
Major players in the market are Stratasys Ltd., MTU Aero Engines AG, 3DSystems Corporation, Ultimaker B.V., Höganäs AB, Arcam AB, EOS GmbH, The Exone Company, Materialise NV, Envisiontec GmbH, Aerojet Rocketdyne, and Norsk Titanium among others.
Increased Demand from The Aerospace Industry To Manufacture Technologically Advanced Complex Aerospace Parts
Currently, aircraft 3D printers are used for the production right from objects such as armrests and other simple parts to complex components like engine components in aerospace industry. 3D printers can create free shape designs and also help to build highly complex aircraft components in a minimum time frame. 3D printing provides the flexibility to multiply the design and test products, assisting aerospace and defense companies to reduce risks and uncertainties and to advance product functionality at low priced.
North America is projected to Dominate Global Aerospace 3D Printing Market Growth
The North America region is estimated to acquire the major market share worldwide in 2020. It is due to the approval of the European Aviation Safety Agency, and the Federal Aviation Administration (FAA), regarding the usage of 3D printed parts for commercial jet engines. Major manufacturers such as GE and the Boeing Company‘s initiative towards development is boosting the market growth. GE Aviation and GE additive had stated that they received an approval from the Federal Aviation Administration for the 3D printed parts, which may get installed in the Genx – 2B commercial jet engines. Furthermore, GE had entered into mass production of power door opening system brackets which will be produced by utilizing the Concept Laser M2 Series 5 of GE Additive. Henceforth, certain factors are significantly influencing the growth of the market for aerospace 3D printing in this region
Browse the full “Aerospace 3D Printing Market, By Industry (Aircraft, Unmanned Aerial Vehicles (UAVs), Spacecraft), By Technology (Stereolithography (SLA), Continuous Liquid Interface Production (CLIP), Fusion Deposition Modelling (FDM), Direct Metal Laser Sintering (DMLS), Selective Laser Sintering (SLS), Others), By Application (Engine Components, Structural Components, Others) and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.marketresearchstore.com/market-insights/aerospace-3d-printing-market-828549
The Global Aerospace 3D Printing market is segmented as follows:
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