Aerospace 3D printing market worth $ 5.58 billion by 2026
New York, United States, July 01, 2021 (GLOBE NEWSWIRE) – Aerospace 3D Printing Market Overview
According to a comprehensive research report from Market Research Future (MRFR), “Aerospace 3D Printing Market Insights by Technology and Region – Forecast to 2026‘, The market is expected to cross $ 5.58 billion by 2026 at 25.7% CAGR.
Scope of the aerospace 3D printing market
The growing need for advanced manufacturing technologies to produce complex aerospace parts may drive the growth of the aerospace 3D printing market in the years to come. Rising defense spending may impact the growth of the aerospace 3D printing market. Globally, military and defense spending has increased dramatically in recent times. We observe that world military spending is increasing by 2.6% and defense spending is increasing. The demand for technologically advanced aircraft, such as; Drones, fighter planes and helicopters are also seen to be on the rise. The increase in passenger traffic and the significant increase in the need for new aeronautical solutions may promote the expansion of the market in the years to come. Replacing traditional solutions with 3D printed spare parts may support the market rise. In addition, the increase in commercial and civilian applications of drones may promote the expansion of the market. The development of advanced 3D printer solutions can support the growth of the market.
The boom in the global aerospace 3D printing device market can be attributed to the increasing demand for modern aviation solutions as the number of air passengers increases.
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Competitive Landscape of the Aerospace 3D Printing Market
Some of the prominent players operating in the global aerospace 3D printing market are;
- 3D Systems Corporation (United States)
- Aerojet Rocketdyne (United States)
- Arcam AB (Sweden)
- Envisiontec GmbH (Germany)
- EOS GmbH (Germany)
- Höganäs AB (Sweden)
- Materialize NV (Belgium)
- MTU Aero Engines AG (Germany)
- Norsk Titanium AS (Norway)
- Stratasys Ltd. (Israel)
The aerospace 3D printing market may experience energy efficiency issues that can hamper market growth.
COVID 19 Analysis of the Aerospace 3D Printing Market
The increase in the number of COVID 19 patients has increased the need for air ambulance, so there is an increase in applications of 3D printing solutions. Therefore, the COVID 19 pandemic is expected to positively impact the aerospace 3D printing market in the coming years.
Browse the in-depth (178 pages) Aerospace 3D Printing Market Research Report: https://www.marketresearchfuture.com/reports/aerospace-3d-printing-market-10144
Market segmentation :
The analysis of aerospace 3D printing market segments is based on technology and industry.
The technological segments of the aerospace 3D printing market are stereolithography (SLA), selective laser sintering (SLS), direct metal laser sintering (DMLS) and fusion deposition modeling (FDM). The stereolithography (SLA) segment can gain the largest market share and prosper at a high CAGR by 2027. SLA technique is often used in aviation for the design of prototypes and plastic parts. However, the time required in the same is less with 3D design
The industrial segments of the aerospace 3D printing market are aircraft, spacecraft and drones. The aircraft segment may hold the largest market share by 2027 as 3D printing provides efficient solutions for the design and production of complex aircraft parts. Additionally, 3D printing produces jigs, fixtures, aids, gauges and other tools that increase production efficiency while minimizing expense and delays. Thus, the segment can prosper in the years to come.
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North America may dominate the global aerospace 3D printing market and the trend is expected to continue during the assessment period due to the existence of well-known players, such as; Aerojet Rocketdyne and 3D Systems Corporation. The substantial investments they have made in the upgrade and development of aerospace 3D printers and their components can support the expansion of the market in North America. In Europe, the increasing adoption of UAVs and fighter jets by military forces to deploy in tactical missions may boost the aerospace 3D printing market during the life of the assessment. In Asia-Pacific, the aerospace 3D printing market may reach a high CAGR during the forecast period due to increasing demand for new aircraft and escalating defense spending in regions such as than China and India.
In the Middle East and Africa, the surge in defense spending by Saudi Arabia, Israel and the United Arab Emirates may promote the growth of the aerospace 3D printing market during the review term. The presence of reputable airlines, such as; Saudi Arabian Airlines and Etihad Airways may lead the market for the duration of the review.
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