The global aerospace 3D printing industry estimate will be $5,933.4 million by 2026, growing from $887.9 million in 2018 to a robust CAGR of 26.8%

Aerospace 3D North America's market share in printing is projected to increase by 26.2% to CAGR by generating revenue of $2,284.3 million by 2026.


New York, USA, Feb. 20, 2020 (GLOBE NEWSWIRE) -- ResearchDive's Aerospace 3D Printing Industry Report provides industry information in the most comprehensive way possible. Key features of the study include industry size, market environment analysis, market trends, and prediction research, market trends, market forecasts, competitive landscape, dynamics, market share, product launches, favorable market segments, potential growth opportunities, evolving trends, strategic growth opportunities for existing and new players, and main success factors.

Market Drivers

The Global market for Aerospace 3D Printing industry was estimated at about $887.9 million in 2018 and is set to grow by more than CAGR of 26.8% to reach $5,933.4 million by 2026 owing to the substitution of old-fashioned constituents with new extraordinary strength and lightweight materials, an efficient way to meet the objective of reducing emissions, minimizing energy use and developing fuel performance. In addition, increasing demand to reduce the total weight of aircraft to increase consumption of fuel that is powering further growth on the market. Complex mechanisms can be manufactured with no trouble using 3D printing technology with reduced inaccuracies. Progress in fuel-efficient and lightweight components has managed to an increase engine application in the segment of material application, which is expected to increase further in the upcoming years.

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Market Opportunities

Increased demand for lightweight vehicle parts to facilitate 3D printing in the aerospace industry Development. The weight of the aircraft plays a significant part in the design and development of the aircraft. Aerospace vehicles that are light weighted use lesser fuel quantity in comparison to the heavier counterparts. Due to the use of 3D printed lightweight advanced material in the technologically advanced aircraft that are extremely fuel-efficient includes sections, total airframe, components, and others, without sacrificing on aerodynamics and aircraft power. This is an additional aspect that fuels the 3D Printing business in the aerospace industry. The increase in demand for lightweight vehicle parts from the aerospace industry is expected to fuel market growth over the projected timeframe. In addition, materials made from 3D printing technology can operate even at extreme temperatures.

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Geographical Scope

Regionally, the aerospace 3D printing market is expanding to various regions and gaining grip, including Europe, The Middle East, North America, South America, and Africa. Among these regions, North America has the lion’s share in the market for aerospace 3D printing. The development of the North American market is recognized to reach the high rate of adoption of aerospace 3D printing technology in the industry. Backed by the approval of the Federal Aviation Administration (FAA), the leading players in the region and along with the regional players are increasing. The use of 3D printed parts in commercial aircraft, are expected to increase significantly in the North American market through 2024. At a regional level, the demand for Aerospace 3D Printing is gaining traction and spreading to various regions, including North America, North America, Australia, South America and the Middle East and Africa. Among these countries, North America is the largest market for Aerospace 3D Printing. The rise of the North American market is due to a high rate of penetration of 3D printing technology in the aerospace industry. The presence of regional and leading players in the region, backed by the approval of the Federal Aviation Administration (FAA) for the use of 3D printed parts in commercial aircraft, is expected to increase significantly in the North American market through 2024.

On the other hand, the increase in the number of OEMs and increased demand for third parties, especially in India and China, is expected to help Asia Pacific emerge as the fastest-growing area in the forecast period. In fact, the development of new materials using 3D printing lightweight parts is used in commercial aircraft.

Top Market Players

The major players in the Aerospace 3D Printing industry are Stratasys Ltd., Exone Group, Materialise NV, Aerojet Rocketdyne, Ultimaker B.V., GE Additive (Arcam), MTU Aero Engines AG, Höganäs AB, 3D Systems Corporation, Envisiontec GmbH, EOS GmbH, Sandvik, etc. Major companies are adopting advanced technologies and launching new goods in order to remain competitive in the industry. Other competitive strategies include mergers and acquisitions and new product developments.

Recent Developments in Aerospace 3D Printing Market

In order to develop customized lightweight material systems, Lockheed Martin Corp and Arconic have entered into a two-year development agreement. In addition, long-term ties with government contractors and national space exploration projects are other variables expected to drive the regional market in the coming years. In the market, a handful of players are proactively growing their ability to leverage 3D printing within commercial applications where GE leads the pack. Most of the players on the sidelines are waiting because they are still struggling to develop technological know-how and capabilities. We are waiting for some real-world case studies and common implementations before we commit to capitalizing on 3D printing manufacturing facilities.


            

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