New York, USA, July 20, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global aerospace 3D printing market is expected to generate $5,933.4 million by 2026 and grow at a 26.8% CAGR over the forecast period from 2019-2026. The extensive report provides a concise layout of the market’s current framework including prime aspects of the market, such as growth elements, challenges, restraints, and various opportunities during the predicted timeframe of 2019-2026. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Aerospace 3D Printing Market
Drivers: The rising number of air passengers across the world along with the growing demand for top-selling aircrafts like A320 and B787 are some factors predicted to drive the growth of the global aerospace 3D printing market during the forecast period. Moreover, the high requirement for trained aviation professionals and pilots is yet another factor to boost the market growth by 2026.
Opportunities: Popular trends like 3DPaaS and 3D printed UAVs are anticipated to create huge growth opportunities for the global aerospace 3D printing market by 2026. In addition, increasing efforts by aviation manufacturers to reduce maintenance requirements and save fuel costs is yet another factor to offer ample market growth opportunities.
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Restraints: High costs of aerospace 3D printing components is the major factor to hinder the market growth.
Segments of the Aerospace 3D Printing Market
The report has divided the aerospace 3D printing market into multiple segments based on type, application, end-use, and regional analysis.
Type: Materials Sub-segment to Have Highest Growth Rate
The materials sub-segment is estimated to have the highest growth rate during the analysis timeframe due to the increasing demand for a wide range of materials for the print engine and other structural components of the aircraft. Moreover, manufacturers’ growing focus on engine components and consequent R&D investments is yet another factor projected to bolster the sub-segment’s growth by 2026.
Application: Engine Component Sub-segment to be Highly Dominant
The engine component sub-segment of the global aerospace 3D printing market is estimated to have the largest market share during the 2019-2026 forecast years. This growth rate is attributed to the rising focus of engine manufacturers on enhancing turbofan engines and other engine parts of top-selling aircrafts using the 3D printing technology.
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End-use: Aircraft Sub-segment to be Highly Beneficial
The aircraft sub-segment is anticipated to hold a dominant market share during the analysis timeframe due to the growing number of air passengers across the world. In addition, increasing competitiveness among international and domestic airlines and consequent reduction in the air fares is yet another factor to propel the sub-segment’s growth by 2026.
Region: Market in the North America Region to Witness Better Growth Opportunities
The aerospace 3D printing market in the North America region is expected to have better growth opportunities by 2026 due to the growing demand for lighter aircraft components and improvisation in supply chains. Moreover, significant support from the US government for better R&D activities is yet another factor predicted to uplift the market growth in the North America region.
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Key Aerospace 3D Printing Market Players
Some key aerospace 3D printing market players include
- EOS GmbH
- Materialise
- 3D Systems, Inc.
- ExOne
- Ultimaker BV
- ENVISIONTEC, INC.
- Höganäs AB
- Aerojet Rocketdyne
- Arcam AB
- Norsk Titanium US Inc., among others.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. – Inquire Here Before Buying Full Report
For example, in June 2022, Collins Aerospace, a division of Raytheon Technologies, a leading aerospace and defense company, announced its expansion of repair, maintenance, and overhaul (MRO) capabilities at North Carolina campus. This new addition will increase the production capability of lightweight 3D printed aerospace components.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Aerospace 3D Printing Market:
- High costs will pose a severe threat to the Global Aerospace 3D Printing Market
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