Aerospace 3D Printing Market Size & Forecast by 2030
Rapid prototyping in the aerospace sector and the increase in
the utilization of light weight components is driving the Global Aerospace 3D
Printing Market.
According
to TechSci Research report, “Aerospace
3D Printing Market- Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2018-2030”. Global Aerospace 3D Printing market is growing because traditional
materials are being replaced with new, lightweight, high-strength materials,
which is an efficient way to achieve the goals of lowering emissions, using
fewer materials, and improving fuel efficiency. The 3D printed components are
highly used for rapid prototyping in the aerospace industry and the companies
have started using engine components made from a 3D printed process. In
addition to manufacturing expenses, maintenance costs can be decreased as well
because 3D-printed parts require less maintenance. Other than material expenses,
the price of printing 10 pieces of the same product versus 10 pieces of ten
distinct products is the same. The addictive manufacturing process is helping
in making the components cost effective and light weight. All these factors are
driving the growth of the global Aerospace 3D Printing Market during the
forecast period.
To increase the usage of 3D-printed parts and
components in more advanced aircraft and spacecraft, several aerospace OEMs are
now funding extensive research programs. Additionally, the adoption of
3D-printed parts is expanding in the aftermarket sector since doing so could
ease the strain on conventional supply networks. period. The
advantages that 3D printing provides have made it more widely accepted in the
aviation industry. With shorter lead times, lower prices, and more digitally
flexible design and development techniques, 3D printing generates parts. Both
customers and manufacturers experience significant cost savings because of the
adoption of 3D printing. However, the COVID-19 has impacted the industry as
because of lockdowns and other curbs all the manufacturing process was
hampered, and this has resulted in the decline in the growth of the market.
However, in the forecast years the Global Aerospace 3D Printing Market will
exhibit higher growth rate.
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The Global Aerospace
3D Printing Market is segmented based on application, material type, printer technology
type, by region, and by company. Based on application, the market is further divided
into aircraft, unmanned aerial
vehicles, & spacecraft. Based on material, the market is bifurcated into alloys
& special metals. On the basis of printer technology, the market is further
segmented into SLA, FDM, DMLS, SLS,
CLIP and others.
Some of the major companies operating in the Global
Aerospace 3D Printing Market include:
- Aerojet Rocketdyne Holdings Inc.
- MTU Aero Engines AG
- GE Aviation
- Stratasys, Ltd.
- The Exone Company,
- Materialise NV
- 3D Systems, Inc
- Hoganas AB
- Envisiontec GmbH
- EOS GmbH
These are the key players
developing advanced technologies and launching new products to stay competitive
in the market. Other competitive strategies include mergers with the research
and development firms, new product developments, and marketing activities to
increase customer outreach. These companies are also focusing on meeting the
regulations of different regional governments and are also partnering with
different defense research bodies to stay competitive in the market.
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“In
the next few years, 3D printing is anticipated to develop into a speedy method
for producing low-volume parts that can
be used in the mass manufacturing of the components of big metal and the
process is also used in the prototyping of the component. The advancements and
technological innovations in the industry is expected drive Global Aerospace 3D Printing Market
growth” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Aerospace 3D Printing Market- Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2030” has
evaluated the future growth potential of Global Aerospace 3D Printing Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global Aerospace 3D Printing Market.
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