Westford,USA, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The global Aerospace 3D Printing market size is expected to reach USD 9.16 billion by 2030 and exhibit a CAGR of 21.4% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing demand for lightweight and fuel-efficient aircraft components, which 3D printing technology enables by creating complex, lightweight structures. The aerospace industry's drive for reduced lead times and cost-effective production methods aligns with the rapid prototyping and customization capabilities offered by 3D printing is fueling the market's growth.
SkyQuest's latest global research of the Aerospace 3D Printing market shows increasing adoption of metal 3D printing technologies for aerospace components due to their high strength-to-weight ratios and performance advantages. The development of advanced aerospace materials optimized for 3D printing, such as superalloys and composites, is on the rise, enabling the production of more durable and lightweight parts. Additive manufacturing's expansion into the production of critical engine components, like turbine blades and fuel nozzles, is a notable trend, driven by improved precision and efficiency, are the trends that aid in the market's growth.
Browse in-depth TOC on "Aerospace 3D Printing Market"
- Pages - 157
- Tables - 64
- Figures -75
Aerospace 3D printing uses 3D printing technology to manufacture aerospace components. 3D printing, also known as additive manufacturing, creates three-dimensional objects from a digital model by building up layers of material.
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Prominent Players in Aerospace 3D Printing Market
- GE Aviation
- Airbus
- Boeing
- Stratasys
- 3D Systems
- HP
- Velo3D
- Desktop Metal
- Markforged
- Renishaw
- EOS
- Arcam
- SLM Solutions
- voxeljet
- ExOne
- BeAM
- Prodways
- Xact Metal
- SLM Solutions Group
- 3D Systems Corporation
- Arcam AB
- Renishaw plc
- Markforged Inc.
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 1.94 Billion |
| 2030 Value Projection | 9.16 Billion |
| CAGR | 21.4% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Powder Bed Fusion (PBF) Demand to Grow Substantially in the Forecast Period
Powder Bed Fusion (PBF) dominates the global online market as it offers high precision, excellent material properties, and the ability to produce complex metal components in critical aerospace applications.
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Engine Components are the Leading Application Segment
In terms of application, engine components are the leading segment as they enable the creation of intricate, complex geometries that improve engine performance and fuel efficiency. Advances in materials, such as high-temperature superalloys optimized for 3D printing, contribute to the dominance of engine component production.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The United States is home to major aerospace companies, including Boeing and Lockheed Martin, which have been early adopters of 3D printing for aircraft components. Extensive research and development efforts in aerospace and additive manufacturing have driven the adoption of 3D printing technologies in the region.
A recent report thoroughly analyzes the major players operating within the Aerospace 3D Printing market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Aerospace 3D Printing.
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Key Developments in Aerospace 3D Printing Market
- Airbus unveiled a concept aircraft called Maveric, featuring a blended wing body design. The aircraft prototype was manufactured using 3D printing technologies, highlighting Airbus' commitment to exploring innovative manufacturing methods for future aerospace designs.
Key Questions Answered in Aerospace 3D Printing Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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