The global military 3D printing market size is expected to witness an elevated market growth owing to rising investments into 3D printing solutions by various government bodies and reduction in procurement costs according to Fortune Business Insights™, in its report, titled, “Military 3D Printing Market, 202-2029.”
This industry report provides a comprehensive analysis and in-depth understanding of the current market trends, dynamics, and opportunities in the industry. The report presents a holistic view of the market, encompassing key factors such as market size, growth drivers, challenges, competitive landscape, and future prospects. It offers valuable insights into various segments of the market, including product types, applications, and geographical regions. The report highlights the emerging market trends and innovative strategies adopted by leading market players to gain a competitive edge. It also examines the regulatory landscape and evaluates the impact of macroeconomic factors on the market.
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List of Key Players Present in the Market
- Norsk Titanium AS (Norway)
- American Elements Corporation (U.S.)
- 3D Systems Inc. (U.S.)
- Artec Europe (Luxemburg)
- The ExOne Company (U.S.)
- Arcam AB (Sweden)
- O.S GmbH (Germany)
- Cimetrix Solutions Inc. (Canada)
- MarkForged Inc. (U.S.)
- M.G. 3D Services Inc. (U.K.)
- 3T Additive Manufacturing Ltd (U.K.)
- Optomec Inc. (U.S.)
- Stratasys Ltd (Israel)
In terms of offering, the global market can be segmented across material, printer, software, and services.
By application, the global market can be branched across tooling, functional part manufacturing, prototyping, and others.
Based on platform, the global market can be divided against land, naval, airborne, and space.
On the basis of process, the global market can be broken down into powder bed fusion, vat photopolymerisation, material extrusion, direct energy deposition, binder jetting, sheet lamination, and material jetting.
In accordance to technology, the global market can be segregated into fused deposition modeling, stereolithography, direct metal laser sintering, selective laser sintering, inkjet printing, polyjet printing, laser metal deposition, electron beam melting, laminated object manufacturing, and digital light processing.
In terms of region, the market is categorized into North America, Europe, Asia Pacific, The Middle East & Africa, and Latin America.
The report answers the following questions:
- What information can be obtained from this market research report?
- How are the market trends analyzed in this report?
- Does the report include vendor landscape analysis?
- Are emerging trends addressed in the report?
- What are the major drivers, challenges, and opportunities highlighted in the report?
- What are the regional prospects for the market?
- Who are key market players and what are their preferred strategies?
Drivers & Restraints
Regular Requirements for Light-Weight Components by the Defense Sector to Drive Market
Huge investment towards 3D additive manufacturing and reduced timeline based supply chains are expected to boost the service’s adoption rate. Integration of 3D printing technology towards technological research for advanced battlefield prospects and the defense sector’s heavy push towards wanting light-weight material will fuel the growth of the market. Further, decreasing acquisition costs for manufacturing processes will foster a higher military 3D printing market growth.
However, a higher cost of production and the lack of a global standard towards manufacturing will hamper the market to a certain extent. Additionally, lack of material availability will further drain the value of the market during the forecast period.
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North America to Gain Highest Market Value
North America will register a substantial market value due to early adoption of the technology along with rapidly increasing integration of 3D printing services by various defense OEMs. Also, rising demand for precise manufacturing needs arising from the aerospace, chemicals, and automotive sector will add to the market value.
Asia Pacific will occupy the fastest growing CAGR due to increased adoption of the technology within emerging economies such as China, Japan, Australia, South Korea, and India. Moreover, increased penetration of the international players towards the region and rising applicability will increase the footprint of the market.
The prominent players in the market concentrate by announcing innovative products for raising their market value. The current competitive landscape is fragmented between the dominant market players focusing towards developing efficient supply chains in order to keep up with consumer demand and players focusing on increasing their consumer base by mergers and acquisitions with like-minded organizations.
For example, in March 2019, ARC Group Worldwide Inc. was acquired by Aerojet Rocketdyne Holdings Inc. for expanding their product line across industrial, medical, defense, and aerospace. This expansion is aimed at expanding the presence of defense players towards developing specific artifacts for giving them a leading advantage over their counterparts.
- January 2021: Naval Group, which is a French naval defense contractor developed a DED-based process based on metal wire fusion for a 3D printed propeller for a French ship called Andromeda. Andromeda is a Tripartite-class minehunter.
- February 2021: ExOne Company was granted a defense contract of USD 1.6 million from the U.S. Department of Defense for developing a self-contained 3D printing facility in their 12-meter long shipping container. This manufacturing facility is expected to be used for deployment solutions via land, sea, or air for providing rapid military equipment supply through its quick action capabilities.
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