DUBLIN--(BUSINESS WIRE)--The "Aerospace 3D Printing Market by Printing Technology Global Market to 2030" report has been added to ResearchAndMarkets.com's offering.
According to this report the global aerospace 3D printing market was valued at $1.38 billion in 2020, and is projected to reach $6.80 billion by 2030, registering a CAGR of 18.4% from 2021 to 2030.
3D printing, also referred to as additive manufacturing, is a process of creating a layer-by-layer three-dimensional object using computer-aided design (CAD) models. Unlike conventional manufacturing techniques, the 3D printing process generates less waste and higher accuracy components. The 3D printing technology was primarily used for rapid prototyping and concept generation, but with advancements in material technology, the process has proliferated its scope of operations to manufacturing complex components.
The design freedom gained by engineers to print a complex component in one piece with the possibility to replace several small joints and machined parts has generated unprecedented business opportunities within the aerospace vertical. The ability to print parts in small volumes as and when needed without incurring any additional capital expense due to lower volume notably impacts the supply chain dynamics of the market. Operations such as replacing a small damaged or outdated component while keeping the system intact will soon become a common practice in coming years.
The report incorporates the study of the global aerospace 3D printing market that focuses on its scope of application of additive manufacturing technologies in aerospace industry. Primary applications includes part manufacturing of complex structure, design optimization, and rapid prototyping. The technology has attracted several maintenance, repair, and overhaul (MRO) and aftermarket players where there is demand for customized components with smaller production cycles.
The growth of the aerospace 3D printing market is driven by factors such as increase in demand for lightweight & durable components in the aerospace industry, simplification of complex designs, ease of prototyping, and rapid customization among others. However, high initial investment and unstable regulatory framework are key factors limiting the business opportunities. These challenges are expected to dilute by 2025. Thus, industry stakeholders are engaged in developing new operational strategies to counter costing challenges. Cloud production and shared production space are expected to emerge as an additive manufacturing trend within the forecast timeframe. The design methodologies of engineers are expected to shift from Design from Additive Manufacturing (DFAM) to embracing design freedom and producing highly complex single-piece components, supporting the business trend.
Key Benefits
- This study presents the analytical depiction of the global aerospace 3D printing market analysis along with the current trends and future estimations to depict imminent investment pockets
- The overall aerospace 3D printing market opportunity is determined by understanding profitable trends to gain a stronger foothold
- The report presents information related to the key drivers, restraints, and opportunities of the global aerospace 3D printing market with a detailed impact analysis
- The current market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency
- The Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry
Market Dynamics
Drivers
- Increase in Demand for Lightweight and Durable Aerospace Components
- Supply Chain Optimization
- Simplification of Complex Design With Rapid Prototyping and Customization
Restraints
- Limited Regulatory Infrastructure
- High Initial Investment and Peripheral Costs
Opportunities
- Technological Advancements and Material Innovation
- Innovation in Design Methodologies
- Cloud Based 3D Printing Services
Key Segments
By Printing Technology
- Selective Laser Sintering (SLS)
- Selective Laser Melting (SLM)
- Binder jetting
- Fused Deposition Modelling (FDM)
- Stereolithography (SLA)
- Others
By Platform
- Aircraft
- Unmanned Aerial Vehicle (UAV)
- Spacecraft
By Application
- Production
- Pre-production & Post-production
By Delivery
- Product
- Service
By Offering
- Hardware
- Printer
- Material
- Metal & Ceramics
- Titanium
- Aluminum
- Steel
- Others
- Thermoplastics
- Polycarbonate (PC)
- Acrylonitrile Butadiene Styrene (ABS)
- Nylon/Polyamide
- Fiber
- Others
- Software
By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Singapore
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- Stratasys Ltd
- 3D systems Inc
- Envision, Inc
- EOS GmbH
- Materialise NV
- Markforged
- ExOne
- Norsk Titanium
- Reinshaw PLC
- General Electric
- TrumpF
For more information about this report visit https://www.researchandmarkets.com/r/frtxlr
