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Aerospace 3D Printing Market Study on 2028's Uses, Technologies, Types, Current Trends, and Future Growth

Submitted by ravi1996 on Sun, 05/07/2023 - 02:38

The global aerospace 3D printing market size is expected to reach USD 11.98 billion at a steady CAGR of 26.6% in 2028, according to the latest analysis by Emergen Research. Steady global aerospace 3D printing market revenue growth can be attributed to the increasing need for lightweight aircraft to enhance fuel efficiency. The production of customized aircraft parts to meet the specific functional needs of aircraft is also driving demand for 3D printing in the aerospace industry. Also, customized parts and components can be produced more cost-effectively and at a rapid rate using 3D printing technology. As fuel consumption is a major cost driver for airline operators, large investments are being made in R&D and options to increase aircraft fuel efficiency through weight reduction. 3D printing delivers an appropriate solution to produce more lightweight aircraft through aircraft part geometry optimization and the use of lesser materials. Additionally, aerospace 3D printing allows various separate components and parts to be designed and produced as a single unit, which further reduces the weight of the component and, in turn, improves fuel efficiency.

By carefully analyzing the vital commercial data and broad geographic dispersion of the business, Emergen Research created a market research study on Aerospace 3D Printing. The study provides comprehensive coverage of the qualitative and quantitative analysis of the market for Aerospace 3D Printing as well as important market statistics. The study paper offers current estimates through 2021 as well as historical data from 2017 to 2018. The profiles of both well-known and emerging industry participants in the research contain a summary of the company, its product portfolio, strategic relationships, and corporate expansion goals.

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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

The leading market contenders listed in the report are:

Stratasys Ltd., Höganäs AB, EOS GmbH, Norsk Titanium AS, MTU Aero Engines AG, 3D Systems Corporation, Materialise NV, Ultimaker BV, EnvisionTEC GmbH, and ExOne

Target Audience of the Global Aerospace 3D Printing Market Report:

Key Market Players

Investors

Venture capitalists

Small- and medium-sized and large enterprises

Third-party knowledge providers

Value-Added Resellers (VARs)

Global market producers, distributors, traders, and suppliers

Research organizations, consulting companies, and various alliances interested in this sector

Government bodies, independent regulatory authorities, and policymakers

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Major Geographies Analyzed in the Report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Market Segmentations of the Aerospace 3D Printing Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2021 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Aerospace 3D Printing market on the basis of product, application, and region:

Segments Covered in this report are:

Component Outlook (Revenue, USD Million; 2018–2028)

Hardware

Software

Services

Materials

Technology Outlook (Revenue, USD Million; 2018–2028)

Direct Metal Laser Sintering (DMLS)

Fused Deposition Modeling (FDM)

Stereolithography (SLA)

Selective Laser Sintering (SLS)

Others

Application Outlook (Revenue, USD Million; 2018–2028)

Aircraft

Unmanned Aerial Vehicles (UAVs)

Spacecraft

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Some Key Highlights from the Report

In July 2020, Ultimaker made an announcement about the launch of Ultimaker Essentials, which is an innovative 3D printing software solution developed to help companies to incorporate additive manufacturing in current IT infrastructures and with the benefit of easy software distribution and upgradation.

Use of 3D printers in the aerospace industry reduces manufacturing time and saves on material costs. Companies, including GE Aviation and various government organizations, such as NASA are making significant investment in research and development of novel 3D printing alloys with the ability to withstand high speed and harsh environments, while optimizing strength-to-weight ratio of the aircraft engine.

Stereolithography in aerospace sector is widely used in manufacturing aircraft/spacecraft component parts in a relatively short time period, as it allows for fast curing of printed parts. Stereolithography helps in prototyping by enabling production of a low-cost, precise model, and hence aids manufacturers in finding potential mistakes that can cost a lot by detecting flaws in design of the component parts to be printed. Additionally, the technology offers a cost-effective alternative for low-volume parts’ production and a lower lead time. Moreover, as stereolithography is driven by Computer Aided Design (CAD), it allows for easy scalability.

The aerospace 3D printing market in North America contributed largest revenue share in 2020, attributed to presence of leading 3D printing solution and services providers including Stratasys Ltd., 3D Systems Corporation, and ExOne, and increased investment in the research and development of 3D printing components and parts for aircraft, UAVs, and spacecraft. In addition, growth of the market in the North America, particularly in the US, is spurred by Federal Aviation Administration (FAA) approval for use of 3D printed and flight critical components and parts for commercial jet engines.

Additional information offered by the report:

Along with a complete overview of the global Aerospace 3D Printing market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.

The report elaborates on the global Aerospace 3D Printing market size and share governed by the major geographies.

It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.

It further presents a detailed description of the company profiles of the key market contenders.

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