The aerospace & defense additive manufacturing market size was USD 3.58 billion in 2020. The market is projected to grow from USD 3.73 billion in 2021 to USD 13.01 billion in 2028 at a CAGR of 19.51% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Aerospace & Defense 3D PrintingMarket, 2021-2028.” Factors such as the rising adoption of manufacturing 3D printed defense parts and rising demand from aerospace & defense, automotive, healthcare, and others will boost the growth of the market during the forecast period. Additionally, the integration of additive manufacturing toward space exploration missions will increase the footprint of the market.
Get Sample PDF Brochure:
Segments
Based on platform, the market is divided into aviation, defense, and space.
With respect to vertical, the market is broken down into printer, material, and others.
By application, the market is segmented into engine components, space components, structural components, defense equipment, and others.
Based on technology, the market is fragmented into Direct Metal Laser Sintering (DMLS), Fused Deposition Modeling (FDM), Continuous Liquid Interface Production (CLIP), Stereolithography (SLA), Selective Laser Sintering (SLS), and others.
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Inquiry before Buying:
Drivers & Restraints
Rising Demand for Lightweight Parts & Components to Bolster Growth
Factors such as increasing demand for lightweight parts & components toward aircraft manufacturing & designing will boost the aerospace & defense additive manufacturing market growth during the forecast period. Additionally, rising demand for low-cost parts and increased focus of the defense sector toward additive manufacturing will increase the footprint of the market. Also, the integration of 3D printing toward space exploration missions will fuel the growth of the market.
However, high energy consumption will limit the growth of the market for aerospace & defense additive manufacturing during the forecast period. Additionally, the expensive cost of manufacturing will hinder the growth of the market.
Regional Insights
North America to Hold Considerable Market Share due to Higher Spending on Defense
North America will witness the largest aerospace & defense additive manufacturing market share during the forecast period due to increased spending toward the defense & aviation industry and the presence of key market players in the region.
Europe will hold a significant market share in terms of global contribution, owing to rising investment in aerospace & defense additive manufacturing from emerging economies such as the U.K, Germany, France, and Russia. Additionally, increased spending on the aviation sector and rising procurement of advanced defense equipment with 3D printed manufacturing will boost the growth of the market.
Asia Pacific will experience moderate growth during the forecast period due to rising expenditure on developing lightweight components.
Competitive Landscape
Business Expansion Practices & Product Development to Augment Market Growth
The sector of aerospace & defense 3D printing is fragmented due to the presence of dominant players. Players are focused on introducing advanced 3D printers and materials for catering to a growing consumer base. For example, in October 2020, ICON receives funding from NASA and a government Small Business Innovation Research (SBIR) contract for developing 3D printed infrastructure for the moon. This project will aid future exploration of the Moon. Others are focused on integrating tactics such as mergers & acquisitions, collaborations, and expanding production capabilities to increase their presence.
Ask for Customization:
Industry Development
- March 2021: Primus Aerospace joined the VELO partner network by adapting the Ti6Al4V Sapphire metal additive manufacturing (AM) system. This system will be the first titanium-dedicated metal 3D printer being utilized for aerospace & defense applications.
List of Key Players Present in the Market
- 3D Systems, Inc. (U.S.)
- EnvisionTEC (Germany)
- EOS (Germany)
- ExOne (U.S.)
- General Electric (U.S.)
- Hoganas AB (Sweden)
- Optomec, Inc. (U.S.)
- ProdWays TECH (France)
- Renishaw plc. (U.K)
- SLM Solutions (Germany)
- Stratasys Ltd. (Israel)
- Ultimaker BV (Netherlands)
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner – Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Connect us via Social Media Channels:
LinkedIn Facebook Twitter Blogs