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 latest analysis by Emergen Research. Steady global aerospace 3D printing market revenue growth can be attributed to increasing need for lightweight aircraft to enhance fuel-efficiency. Production of customized aircraft parts to meet the specific functional needs in aircraft is also drive 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 on 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 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.
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The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Aerospace 3D Printing market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Some major companies included 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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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.
Regional Bifurcation of the Aerospace 3D Printing Market Includes:
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)
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Emergen Research has segmented the global aerospace 3D printing market on the basis of component, technology, application, and region:
Component Outlook (Revenue, USD Million; 2018–2028)
Technology Outlook (Revenue, USD Million; 2018–2028)
Direct Metal Laser Sintering (DMLS)
Fused Deposition Modeling (FDM)
Selective Laser Sintering (SLS)
Application Outlook (Revenue, USD Million; 2018–2028)
Unmanned Aerial Vehicles
Key Questions Answered in the Report:
What will be the estimated growth rate of the Aerospace 3D Printing market by 2028?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the Aerospace 3D Printing market throughout the forecast period?
What are the current and future market trends of the Aerospace 3D Printing market?
What are the sales and price analysis of the product by types, applications, and regions?
What are the expected opportunities for the companies and new entrants in the coming years?
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The post Aerospace 3D Printing Market To Top A Valuation Of USD 11.98 Billion By 2028 appeared first on Market O Graphics.