Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "Aerospace Additive Manufacturing Market by Platform, Material Type, Technology and Applications" report has been added to ResearchAndMarkets.com's offering.
The global aerospace additive manufacturing market size reached US$ 3.86 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 11.08 Billion by 2028, exhibiting a CAGR of 19.21% during 2022-2028. The extensive research and development (R&D) activities and growing concerns for reducing carbon footprint through aircraft weight reduction represent some of the key factors driving the market.
Aerospace AM uses various materials for manufacturing parts and components, such as metal alloys, ceramics, plastic, and rubber. It offers improved part performance, reduces weight, cost, and time, and helps to remove design and production constraints. As compared to traditional manufacturing methods, aerospace AM is a commercially viable alternative that facilitates complex geometries and mass customization of parts and reduces raw material wastage.
Aerospace Additive Manufacturing Market Trends:
The increasing demand for manufacturing customized, high-quality parts and components are one of the key factors driving the market growth. Aerospace AM is widely used to produce grips, jigs, and fixtures at low costs. In line with this, the widespread adoption of AM helps to fabricate parts with premium materials with small production runs and short turnaround times, which is favoring the market growth.
Moreover, the rising demand for customized and complex design components is acting as another growth-inducing factor. Aerospace AM helps to achieve complex and customized parts, such as engines, brackets, ducting, and seat belt buckles. Apart from this, the integration of artificial intelligence (AI) with aerospace AM to detect manufacturing errors in real-time, monitor and adjust the 3D printing process and quickly detect geometrical distortions, is providing an impetus to the market growth.
Additionally, the increasing utilization of AM in the aerospace industry as it offers a level of precision and helps to attain more intricate designs, which, in turn, is positively influencing the market growth. Furthermore, the escalating demand for AM to reduce the weight of compressor vanes, diffusers, acoustic attenuation devices, and heat exchangers, and deliver complexity and performance targets is facilitating the market growth.
The market is also driven by the increasing demand for 3D printed parts or prototype parts from the aerospace industry and extensive research and development (R&D) activities. Other factors, such as rising concerns for reducing carbon footprint through aircraft weight reduction, thus consequently diminishing the fuel requirement, and the rising demand for green manufacturing solutions, are supporting the market growth.
Key Market Segmentation:
The analyst provides an analysis of the key trends in each segment of the global aerospace additive manufacturing market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on platform, material type, technology, and application.
Platform Insights:
- Aircraft
- Unmanned Aerial Vehicle
- Spacecraft
The report has provided a detailed breakup and analysis of the aerospace additive manufacturing market based on the platform. This includes aircraft, unmanned aerial vehicle, and spacecraft. According to the report, aircraft represented the largest segment.
Material Type Insights:
- Metal Alloy
- Plastic
- Rubber
- Others
The report has provided a detailed breakup and analysis of the aerospace additive manufacturing market based on the material type. This includes metal alloy, plastic, rubber, and others. According to the report, metal alloy represented the largest segment.
Technology Insights:
3D Printing
- Laser Sintering
- Stereolithography
- Fused Deposition Modelling
- Electron Beam Melting
The report has provided a detailed breakup and analysis of the aerospace additive manufacturing market based on the technology. This includes 3D printing, laser sintering, stereolithography, fused deposition modelling, and electron beam melting. According to the report, 3D printing represented the largest segment.
Application Insights:
- Engine
- Structural
- Others
The report has provided a detailed breakup and analysis of the aerospace additive manufacturing market based on the application. This includes engine, structural, and others. According to the report, engine represented the largest segment.
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global aerospace additive manufacturing market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global aerospace additive manufacturing market?
- What are the key regional markets?
- Which countries represent the most attractive aerospace additive manufacturing markets?
- What is the breakup of the market based on the platform?
- What is the breakup of the market based on the material type?
- What is the breakup of the market based on technology?
- What is the breakup of the market based on the application?
- What is the competitive structure of the global aerospace additive manufacturing market?
- Who are the key players/companies in the global aerospace additive manufacturing market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Aerospace Additive Manufacturing Market
6 Market Breakup by Platform
7 Market Breakup by Material Type
8 Market Breakup by Technology
9 Market Breakup by Application
10 Market Breakup by Region
11 Drivers, Restraints, and Opportunities
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
Companies Mentioned
- 3D Systems Inc.
- CRP Technology S.r.l.
- EOS GmbH
- General Electric Company
- Optomec Inc.
- SLM Solutions Group AG
- Stratasys Ltd.
- The ExOne Company (Desktop Metal Inc.)
For more information about this report visit https://www.researchandmarkets.com/r/5tmv63
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