 Ravi Tundilal Thakre | Aerospace 3D Printing Market Forecast to 2028
The Aerospace 3D Printing Market Analysis includes information on market size, market share, revenue growth, and CAGR from 2021 to 2028. The study includes a thorough SWOT analysis, a Porter's Five Forces analysis, and a feasibility analysis to provide readers with a competitive edge. Important details on the top companies in the market are also included. The report's key topics are the current pandemic's recent trends, significant challenges, prospects, and limitations.
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. 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.
The aerospace industry has always been at the forefront of innovation and technological advancements, and 3D printing is no exception. Over the past few years, the aerospace 3D printing market has experienced remarkable growth, revolutionizing the manufacturing processes in the sector. This cutting-edge technology has enabled aerospace manufacturers to design and produce complex components with unprecedented precision, reduced lead times, and improved cost-effectiveness. This article will delve into the current state of the aerospace 3D printing market, explore the key drivers behind its growth, and highlight the opportunities it presents for the aerospace industry.
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The global Aerospace 3D Printing market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Aerospace 3D Printing industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
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.
Stratasys Ltd., Höganäs AB, EOS GmbH, Norsk Titanium AS, MTU Aero Engines AG, 3D Systems Corporation, Materialise NV, Ultimaker BV, EnvisionTEC GmbH, and ExOne
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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.
Market Overview:
The report bifurcates the Aerospace 3D Printing market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
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)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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