Aerospace 3D Printing - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Aerospace 3D Printing Market is accounted for $1,121.77 million in 2019 and is expected to reach $6,815.74 million by 2027 growing at a CAGR of 25.3% during the forecast period. Some of the key factors propelling the market growth include increasing defense expenditures and passenger traffic, significant rise in the demand for new aircraft, growing use of UAVs for defense and commercial applications and rising demand for 3D printed replacement parts. However, stringent requirements for industry certification are likely to hamper the market.
3D printing of parts is a new technology that has come up with the potential to transform the way enterprises build new products, including parts for defense and aerospace. This new manufacturing process is known as 3D printing or additive manufacturing. The 3D printing technology in the aerospace sector, generally in plastic, has developed into a mainstream prototype fabrication practice of aerospace parts. This technology empowers designers to skip the fabrication of tools and go straight to finished parts. Although printing a prototype component may consume several hours, it is still considerably faster than manufacturing tools that are then used to manufacture prototype parts.
By offering, the materials segment of the aerospace 3D printing market is projected to grow at the significant rate during the forecast period, due to increasing use of different types of materials to 3D print different types of engine components. Moreover, development of new materials to be used for 3D printing of components and parts used in the aerospace industry is also expected to drive the growth of this market.
On the basis of geography, the growth of the North America aerospace 3D printing market can be attributed to the high adoption rate of 3D printing technology in the aerospace industry of the region. The use of 3D printing technology results in the production of lightweight parts and components of aircraft. It also results in the short supply chain, thereby leading to increasing use of this technology to 3D print aircraft parts and components in this region.
Some of the key players in Aerospace 3D Printing Market include Boeing, Höganäs AB, Materialise NV, Organovo Holdings Inc., Aerojet Rocketdyne., Solvay S.A., Norsk Titanium US Inc., Honeywell International , Stratasys Ltd., 3D Systems Corporation, The ExOne Company, EOS GmbH, MTU Aero Engines AG , Envisiontec GmbH, GE Aviation, Ultimaker B.V., The Trumpf Group , and Renishaw plc.
Printer Technologies Covered:
• Selective Laser Sintering (SLS)
• Continuous Liquid Interface Production (CLIP)
• Fused Deposition Modeling (FDM)
• Direct Metal Laser Sintering (DMLS)
• Stereolithography (SLA)
• Electron Beam Powder Bed Fusion (EB-PBF)
• Laser Powder Bed Fusion (L-PBF)
• Electron Beam Melting (EBM)
• Laser Metal Deposition (LMD)
• Digital Light Processing (DLLP)
• Laminated Object Manufacturing
• Polyjet Printing
• Inkjet Printing
• Software & Solution
• Space Components
• Engine Components
• Structural Components
• Functional Part Manufacturing
End Users Covered:
• Aerospace Spacecraft
• Unmanned Aerial Vehicles (UAV's)
• Civil Aviation
• Direct Energy Deposition
• Binder Jetting
• Sheet Lamination
• Powder Bed Fusion
• Material Extrusion
• Material Jetting
• Vat Photo-Polymerization
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Supply chain trends mapping the latest technological advancements
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