Aerospace 3D Printing Market Size, Analysis, Trends, and Regional Forecast by 2028
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Rising demand for lightweight aircraft to increase fuel-efficiency is a key factor driving global aerospace 3D printing market revenue growth
VANCOUVER, BRITISH COLUMBIA, CANADA, February 2, 2023 /EINPresswire.com/ -- 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.
The aerospace 3D printing market in North America contributed largest revenue share in 2020, attributed to presence of leading 3D printing solution and services providers including Stratasys Ltd., 3D Systems Corporation, and ExOne, and increased investment in the research and development of 3D printing components and parts for aircraft, UAVs, and spacecraft. In addition, growth of the market in the North America, particularly in the US, is spurred by Federal Aviation Administration (FAA) approval for use of 3D printed and flight critical components and parts for commercial jet engines.
Aerospace 3D Printing Market By Component (Hardware, Software, Services, Materials), By Technology (DMLS, FDM, SLA, SLS), By Application (Aircraft, Unmanned Aerial Vehicles, Spacecraft), and By Region Forecast to 2028
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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. Stereolithography helps in prototyping by enabling production of a low-cost, precise model, and hence aids manufacturers in finding potential mistakes that can cost a lot by detecting flaws in design of the component parts to be printed. Additionally, the technology offers a cost-effective alternative for low-volume parts’ production and a lower lead time. Moreover, as stereolithography is driven by Computer Aided Design (CAD), it allows for easy scalability.
Major companies included in the global market report are 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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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)
Hardware
Software
Services
Materials
Technology Outlook (Revenue, USD Million; 2018–2028)
Direct Metal Laser Sintering (DMLS)
Fused Deposition Modeling (FDM)
Stereolithography (SLA)
Selective Laser Sintering (SLS)
Others
Application Outlook (Revenue, USD Million; 2018–2028)
Aircraft
Unmanned Aerial Vehicles
Spacecraft
Regional Outlook (Revenue, USD Million; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of MEA
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