aerospace 3D printing

The global aerospace 3D printing market is expected to grow at 18.04% CAGR from 2022 to 2029. It is expected to reach above USD 35.55 billion by 2029

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 22, 2023 /EINPresswire.com/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Aerospace 3D Printing Market.

The market for aerospace 3D printing is expected to rise as a result of the rising demand for engines, which can now be designed with increased strength and low weight due to the market’s innovative technologies. The aerospace 3D printing business is expanding overall due to technologies like stereolithography, selective laser sintering, direct metal laser sintering, and others.

The rising demand for the essential components used in the sector has an impact on the development of the aerospace 3D printing market. One factor supporting the general expansion of the aerospace 3D printing sector is the demand for designing aircraft, spacecraft, (UAVs), and a variety of other advanced engineering materials. The aerospace industry is constantly looking for ways to manufacture thin walls, curved surfaces, and other components with complicated dimensions to reduce weight and increase performance, and this demand is considered to be the main factor driving the growth of the aerospace 3D printing market.

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latest trends in the aerospace 3D printing market:
Metal 3D printing, particularly using alloys such as titanium and nickel-based superalloys, has gained traction in aerospace applications. This trend is driven by the need for lightweight, high-strength components in aircraft and spacecraft. Efforts have been made to improve the speed and scalability of 3D printing technologies. This includes the development of larger-scale printers and innovations to enhance the printing speed while maintaining high precision. These improvements address some of the historical constraints of 3D printing in terms of production volume. The aerospace industry is increasingly focused on sustainability, and this extends to 3D printing materials. There's a growing interest in exploring and adopting bio-based or recycled materials for aerospace 3D printing, aligning with broader environmental goals. 3D printing is being used to manufacture components with advanced composite materials, providing a balance between strength and weight. This trend supports the development of lightweight structures, which is crucial in aerospace applications for fuel efficiency and overall performance.

Aerospace 3D Printing Key Market Players:

3D Systems, Stratasys, Materialise, EOS GmbH, General Electric Company, Ultimaker BV, Proto Labs, Inc., Relativity Space, The ExOne Company, Voxeljet AG, Velo 3D, SLM Solutions Group AG, EnvisionTEC, Norsk Titanium AS, GE Aviation, and others.

Notable Industry Development
-In April 2023, Handddle, a French startup specializing in 3D printing production lines, renewed its ongoing collaboration with the French Air and Space Force. The contract renewal will expand the French forces’ ability to deal with unforeseen circumstances and quickly adapt to new situations on the ground. The company has equipped the French Air and Space Force with a new 3D printing micro-factory.
-In January 2023, Mark3D UK, a UK-based 3D printing solutions company specializing in Markforged technology, announced the launch of a new Aerospace and Defense Division out of the United Kingdom's iAero Centre in a bid to support the adoption of additive manufacturing within the sector.
- July 2021, Burloak Technologies announced the opening of its second additive manufacturing center in Camarillo, California. The new facility is expected to reinforce its Additive Manufacturing Center of Excellence in Ontario. Aircraft OEMs are also increasing their footprint in the additive manufacturing market with the increasing requirement for 3D printed components
-May 2022- Sratasys subsidiary MakerBot and 3D printer manufacturer Ultimaker announced a merger that will see the creation of a new desktop 3D printing company. The merged company will look to provide a comprehensive ‘ecosystem’ of hardware, software and materials for the desktop 3D printing market to an expanded global customer base.

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Regional Analysis:
Asia-Pacific is anticipated to show remarkable growth in 3D printing in the aerospace and defense market during the forecast period. The growth is expected to be due to the rapid expansion of the aviation sector and increasing defense expenditure from countries such as China, India, and South Korea. According to the International Air Transport Association (IATA), China became the largest aviation market in terms of seating capacity in mid-2020. According to plans released in February 2021, China is planning to have 400 civilian transport airports by the end of 2035.

Market Restraints:
The availability of suitable materials for 3D printing in aerospace applications is a challenge. While there have been advancements in aerospace-grade materials, ensuring that these materials meet the stringent requirements for strength, durability, and heat resistance is an ongoing concern. The aerospace industry has strict regulations and certification standards. Ensuring the quality and reliability of 3D-printed components to meet these standards can be challenging. Developing standardized processes for certification and quality control is crucial for widespread adoption. The initial investment required for acquiring and setting up 3D printing technology, especially high-end systems capable of producing aerospace-grade components, can be substantial. This cost can be a barrier for smaller aerospace companies or those with limited budgets.
While 3D printing offers design flexibility, the production speed is often slower compared to traditional manufacturing methods. Scalability remains a challenge, particularly for large-scale production of components, which is a common requirement in the aerospace industry.

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Key Benefits for Industry Participants & Stakeholders:
-Industry drivers, restraints, and opportunities covered in the study
-Neutral perspective on the market performance
-Recent industry trends and developments
-Competitive landscape & strategies of key players
-Potential & niche segments and regions exhibiting promising growth covered
-Historical, current, and projected market size, in terms of value
-In-depth analysis of the Aerospace 3D Printing Market

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