The new report by Expert Market Research titled, ‘Global Aerospace 3D Printing Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aerospace 3D printing market, assessing the market based on its segments like technologies, offerings, platforms, end-uses, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Aerospace 3D Printing Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 22.0%
The growth of the aerospace 3D printing market is driven by factors such as the increase in demand for lightweight from the aerospace industry, simplification of complex designs, ease of prototyping, and rapid customisation, among others.
The rise in jet fuel charges and implementation of stringent government regulations on carbon footprint generated by the aviation industry have allowed aircraft manufacturers to explore ways of increasing fuel efficiency.
Thus, the surge in demand for lightweight and durable aerospace components notably contributes to the market growth. In addition, the requirement for rapid prototyping is expected to fuel the growth of the aerospace 3D printing market during the forecast period.
Aerospace 3D Printing Industry Definition and Major Segments
Early adopters of 3D printing, namely the Aerospace and Defense (A&D) sector, have made significant contributions to its advancement. All stages of the design process for applications in the aerospace sector use 3D printing. For example, in the field of design communication, designs for the aerospace sector typically begin as concept models showcasing an aircraft component.
By technology, the market is segmented into:
• Powder Bed Fusion
• Material Extrusion or Fusion Deposition Modelling (FDM)
Based on offerings, the market is classified into:
By platform, the market is divided into:
• Unmanned Ariel Vehicles (UAV)
The end-uses of the market are:
The major applications of the market are:
• Functional Parts
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Aerospace 3D Printing Market Trends
Governments all over the world are increasing their funding on 3D printing in the aircraft industry for the further advancements of these technologies due to the high rise in demand for different 3D printing technologies and due to their faster production times.
This, in turn, is expected to create plenty of opportunities for the overall market growth in the future. Aerospace parts frequently include internal channels for internal features, conformal cooling, thin walls, and complex curved surfaces. 3D printing is capable of producingcan produce such features and enables the construction of intricate, lightweight and highly stable structures. Such benefits of 3D printing are likely to propel the global aerospace 3D printing market.
Key Market Players
The major players in the market are:
- Stratasys Ltd
- 3D Systems, Inc.
- EOS GmbH Electro Optical Systems
- Norsk Titanium US Inc.
- Ultimaker BV
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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