Global Aerospace 3D Printing Market Size to Reach USD 11.98 Billion in 2028 | Rising Demand for 3D Printing Technology to Manufacture Intricate Aerospace Components is a Key Factor Driving Industry Demand, According to Emergen Research
VANCOUVER, BC, Feb. 8, 2022 /PRNewswire/ -- The global aerospace 3D printing market size is expected to reach USD 11.98 Billion in 2028 and register a rapid CAGR of 26.6% over the forecast period, according to latest analysis by Emergen Research. Rapid global aerospace 3D printing market revenue growth rate can be attributed to rising demand for 3D printing technology to manufacture intricate aerospace components. 3D printing in the aerospace industry finds extensive application in the production of intricate component parts using a variety of materials such as plastics, composites, and metals, including steel, titanium, nickel, and chromium, and aluminum. For instance, GE Aviation employs 3D printing to produce fan blade edges with intricate shapes for airflow optimization.
Materials such as Inconel 718 (an alloy of nickel and chromium) and Titanium Ti6Al4V are used in the production of aircraft to deliver superior flexibility in terms of geometry optimization and create added space for innovation and new design exploration. Additionally, use of 3D printing technology in the aerospace industry enables designers to achieve maximum performance without accommodating production limitations.
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Some Key Highlights From the Report
- In December 2020, Stratasys Ltd. entered into an agreement to purchase Origin Inc., which is a startup providing 3D printing solutions, worth USD 100.0 million. The acquisition is intended to allow Stratasys to expand its capability for mass production of parts using an innovative photopolymer platform.
- A significant benefit of fused deposition modeling is its easy scalability. In addition, fused deposition modeling printer allows for a wide variety of thermoplastic materials and filaments to be printed with comparatively few modifications and upgrades.
- Aerospace 3D printing is beneficial in improving aircraft design. Increasing sophistication and advancements in 3D printing software allows engineers to optimize aircraft part designs that can be 3D printed. Such design enhancements aid in reducing the aircraft life-cycle cost by improving engine efficiency, decreasing aircraft mass, and reducing drag.
- Aerospace 3D printing enables manufacturing of a variety of components using a wide range of raw material, thereby increasing production efficiency and enhancing lead times in supply chain management.
- Asia Pacific revenue is expected to register fastest growth rate during the forecast period, attributed to rising disposable income, increasing air traffic volumes, and rising demand for new aircraft.
- Some major companies in the market report include 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 (UAVs)
- Spacecraft
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- 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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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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SOURCE Emergen Research
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