Aerospace 3D Printing Market Size Worth USD 11.98 Billion in 2028 | Emerging Research Study
Market Size – USD 1.751.1 Million in 2020, Market Growth – at a CAGR of 26.6%, Market Trends – Increasing air traffic
— Emerging Research
VANCOUER, BC, CANADA, June 16, 2022 /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.The report provides extensive data concerning the key market players along with their SWOT analysis, financial standing, technological and product development, and recent strategic business expansion plans.
The report contains extensive analysis of the market in light of the ongoing COVID-19 impact. The pandemic has affected the economic landscape of the world dynamically. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic. The report also discusses the present and future impact of the COVID-19 outbreak.
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Key insights presented in 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.
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.
The report provides comprehensive details about the market with respect to overall revenue, sales and consumption, pricing trends, gross margins, growth rate, and market size. Additionally, the report also covers details of the company, such as sales and distribution area, product portfolios, specifications, and others.
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Some 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, Materialize NV, Ultimaker BV, EnvisionTEC GmbH, and ExOne. and others as well as new entrants in the market. The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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 2027?
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 report demonstrates the progress and advancement achieved by the global Aerospace 3D Printing market, including the historical analysis and progress through forecast years. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals. The report provides an accurate estimation by applying SWOT analysis and Porter’s Five Forces analysis. The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market.
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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.