The aerospace 3D printing market is expected to register a CAGR close to 25% during the forecast period, 2018 to 2023. 3D printing technology is a very versatile technology used for engineering prototypes, tools for manufacturing processes, etc.
The aerospace industry has incorporated 3D printing throughout all processes and functions; from the design concept to near-end-of-life repairs. 3D printing offers advantages, like ease of manufacturing complex components with intricate designs, no or less tooling expense, customizing each unit etc. The application of 3D printing in aerospace industry is driven by the growing demand for lightweight aircraft components and complementing demand for airplanes from different airlines. This resulted in many aircraft component manufacturers using 3D printing to manufacture parts, as it cuts short the supply chain of manufacturing thereby decreasing production time. Factors that drive the 3D printing in aerospace market are innovation in new printing materials for 3D printing, the development of new technologies, low cost of development, and expiration of key patents.
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Stringent regulations with respect to replication accuracy of components, inadequate availability and standardization of materials, process control standards, and limited awareness about the technology could hamper the growth of aerospace 3D printing market. Unmanned aerial systems (UAS) production is a rapidly growing segment for 3D printing because of the complex systems, rapid design iterations, low-volume, and structural complexity.
North America to Dominate the Market Growth
North America is the largest market for 3D printing and is expected to increase its global market share, during the forecast period. The growth in the region owes to increasing adoption of 3D printing technologies in the aerospace industry.
Key Developments in the Market
• November 2017: 3D Systems unveiled next-generation additive metal platform for high-productivity production
• July 2017: Stratasys direct manufacturing was selected by airbus to 3D print polymer serial flying A350 XWB Parts
• June 2017: Stratasys signed technical partnership with Boom and introduces an aerospace certification package for its Fortus 900mc Production 3D Printer
Major players: STRATASYS LTD., THE EXONE COMPANY, MATERIALISE NV, ARCAM AB, 3DSYSTEMS CORPORATION, EOS GMBH, MTU AERO ENGINES AG, ULTIMAKER B.V amongst others.
Reasons to Purchase this Report
• The report analyses how advancements in 3D printing technology will impact aerospace industry
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The regions that are expected to witness fastest growth during the forecast period
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
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