Aerospace 3D Printing Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025 – Rising demand of cost effective solutions to produce various parts in aerospace sector is one of the driving factors of the aerospace 3D printing market growth.
Global Aerospace 3D Printing Market is valued at USD 889.8 Million in 2018 and expected to reach USD 4889.5 Million by 2025 with the CAGR of 27.56 % over the forecast period.
3D Printing can be defined as a digital model to the successive addition of thin layers to create a physical three dimensional object. Since 1989, some aerospace companies began using 3D printing technology and continue over the next couple of decades. 3D printing objects are created by placing successive layers of material until the object is produced. In aerospace sector, the engine, turbine parts and cabin interior components are typical applications for 3D printing technology. 3D printing technology allows aerospace manufacturers to grow their businesses profitably. Additionally, this technology has a massive positive impact on aerospace industry, where highly complex components are one of the important considerations in the process of manufacturing. Furthermore, with the use of 3D printing technology aerospace designers and manufacturers are able to create a variety of aircraft parts with complex designs, cost effectively and rapidly.
Global Aerospace 3D Printing Market report is segmented on the basis of vertical, industry, printer technology, material application and region& country level. On the basis of vertical, the market is classified into materials and printers. Based upon industry, aerospace 3D printing market is segmented as aircraft, UAV and spacecraft. By printer technology, the market is segmented into SLA, SLS, DMLS, FDM and Clip. Furthermore, based on material application, market is classified into engine, structural and space components.
The regions covered in this global aerospace 3D printing market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Global Aerospace 3D Printing market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Aerospace 3D Printing Market Report–
Some major key players for global Aerospace 3D Printing market EOS GmbH (Germany), Organovo Holdings Inc (U.S.)., 3D Systems Corporation, Stratasys Ltd (U.S.), Solvay S.A.(Belgium), Sandvik (Sweden) and Höganäs AB (Sweden) among others
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Increasing demand of cost effective solutions for manufacturing complex parts is one of the key factors boost the growth of Global Aerospace 3D Printing Market.
Growth of aerospace 3D printing is primarily driven by increasing expansion of aerospace industry which includes a range of commercial, industrial and military applications to produce cost effective, light weight and complex parts. Thus 3D printing technologies are widely adopted by many leading aerospace companies for cost savings and fast production. For example; The Boeing printed around 22,000 light weight parts that is used in aircrafts. In addition, OEM and suppliers have increasingly finding new ways to produce aircrafts as quickly as possible by adapting 3D printing technology. Over the next 20 years, the demand for new aircraft will reach around 38,000 new aircrafts. Moreover, leading aerospace companies have combined 3D printing into their processes for the further production strategies. For example, Airbus and NASA are the few examples of major organizations using 3D printing to tackle with complex design problems. However, restriction of the volume of construction may obstruct the growth of this market, where in aerospace industry; aircraft is made up of large components and 3D printing technology is applicable to small components with limited printing volume. Advancements in metal 3D printing, both aircrafts and spaceships will adopt 3D printing using custom alloys and high-end lightweight thermoplastics.
North America is expected to dominate the Aerospace 3D Printing Market.
North America holds the largest share of aerospace 3D printing and is expected to continue the same within the during forecast period owing to the many aerospace companies are largely investing in 3D printing technology in this region due to its enhanced features such as requirement of fewer materials, able to design complex parts and reduction of overall manufacturing cost. The U.S. aerospace and defense industry is the leading producer of technologically advanced aircraft, space and defense systems. In 2015, export of aircraft, engines, space systems and parts accounted for USD 121.8 billion i.e.; 85% of total Aerospace exports. Asia pacific is rapidly growing in this technology owing to the manufacturing opportunities in 3D printing supported by research and development facilities, countries like Singapore, China and South Korea have recognized the potential of 3D printing to develop a various parts in aerospace industry.
Key Benefits for Global Aerospace 3D Printing Market Reports –
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Global Aerospace 3D Printing Market Segmentation –
Aircraft, UAV, Spacecraft
By Printers Technology
SLA, SLS, DMLS, FDM, Clip
By Material Application
Engine, Structural, Space Components
North America (US., Canada), Europe (UK., France, Germany, Italy), Asia Pacific (China, Japan, India, Southeast Asia), Latin America (Brazil, Mexico), Middle East and Africa (GCC, Africa, Rest of Middle East and Africa)
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