New York, July 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aerospace 3D Printing Global Market Report 2022" - https://www.reportlinker.com/p06284226/?utm_source=GNW
The global aerospace 3D printing market is expected to grow from $1.41 billion in 2021 to $1.80 billion in 2022 at a compound annual growth rate (CAGR) of 27.74%. The growth is mainly due to the companies’ rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5.19 billion in 2026 at a CAGR of 29.80%.
The aerospace 3D printing market consists of sales of 3D printing products and services by entities (organizations, sole traders, and partnerships) for the aerospace industry. 3D printing involves manufacturing three-dimensional solid objects from a digital file. The aerospace industry uses 3D printing to manufacture aerospace components such as door handles, light housings, control wheels, and interior dashboard designs. It is used to produce end-use parts, prototypes, alleviate supply chain constraints, limit warehouse space, cut storage costs, and decrease wasted production materials.
The main aerospace 3D printing material types include metals, plastics, and ceramics.Aerospace 3D printing metals are utilised to fabricate metal parts produced from a high-strength, lightweight titanium alloy that is majorly utilised in aerospace.
The different aerospace 3D printing industry types include aircraft, spacecraft, and unmanned aerial vehicles.The printer technology types include direct metal laser sintering (DMLS), fused deposition modelling (FDM), continuous liquid interface production (CLIP), stereolithography (SLA), and selective laser sintering (SLS).
The different aerospace 3D printing process types include material extrusion, powder bed fusion, direct energy deposition, material jetting, binder jetting, sheet lamination, and vat photo-polymerization for applications in space components, structural components, and engine components.
North America was the largest region in the aerospace 3D printing market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The rising demand for lightweight parts and components from the aerospace industry is driving the growth of the aerospace 3D printing market. Lightweight design is a highly described and used concept in various industries, particularly in aerospace, and is related to the green aviation theory. 3D printing allows the creation and deployment of various lightweight prototypes, enabling designers to refine the form and fit of finished parts in the aerospace industry. For instance, a 20% weight reduction in a Boeing 787 is expected to generate a 10 to 12% improvement in fuel efficiency. In addition to a decrease in carbon footprint, lightweight parts also improve operational efficiency with such things as better acceleration, higher structural strength, and better protection performance. Therefore, the rising demand for lightweight parts and components from the aerospace industry is driving the growth of the aerospace 3D printing market.
Technological advancements are a key trend gaining popularity in the aerospace 3D printing market.Technological advancement is the discovery of knowledge that advances technology in developing new products.
For instance, in May 2021, Belgium-based 3D printing company, Materialise, introduced flight-ready parts using laser sintering technology.Laser sintering uses a high-power laser to sinter small particles of polymer powder into a solid structure based on a 3D model.
The company is using a flame-retardant polyamide (PA 2241 FR) to produce laser sintered parts under the Airbus Process Specification AIPS 03-07-022.
In 2021, Desktop Metal Inc., a US-based 3D printing solutions company, announced the acquisition of Aerosint for an undisclosed amount. This acquisition helps Desktop Metal to own differentiated print technologies that access an expanding set of AM 2.0 applications at scale. Aerosint, headquartered in Belgium, develops a technology known as selective powder deposition that enables full three-dimensional control over material placement in powder bed 3D printing processes.
The countries covered in the aerospace 3D printing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284226/?utm_source=GNW
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