New York, United States , Feb. 13, 2024 (GLOBE NEWSWIRE) -- The Global Aerospace 3D Printing Market Size to Grow from USD 530.9 Million in 2023 to USD 2180.5 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 15.17% during the forecast period.
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Aerospace manufacturers employ 3D printing to quickly develop and iterate designs. This technology allows for the fabrication of complicated, bespoke components with shorter lead times than with typical production processes. The ability of 3D printing to create lightweight, structurally optimised parts helps reduce the weight of aircraft. This is necessary for reducing running costs and increasing fuel efficiency. Additive manufacturing makes it possible to fabricate intricate geometries that would be challenging or impossible to accomplish with traditional techniques. This capacity improves the efficiency and performance of aerospace components.
Aerospace 3D Printing Market Value Chain Analysis
Suppliers of 3D printing materials play a crucial role in the aerospace 3D printing value chain. These materials may include specialised metals, plastics, and composites developed to meet the exacting requirements and high performance requirements of the aircraft industry. Businesses that specialise in manufacturing 3D printing equipment, such as printers and powder bed fusion machines, are essential to the value chain. These manufacturers supply the hardware required by aircraft companies to initiate additive manufacturing. Software developers create the design and simulation tools that aeronautical engineers need to manufacture parts that are suitable for 3D printing. These consist of CAD (Computer-Aided Design) software, simulation tools, and workflow management systems. Software developers create the design and simulation tools that aeronautical engineers need to manufacture parts that are suitable for 3D printing. Ensuring the quality and certification of 3D-printed aeronautical parts is an essential element. Standards are established, inspections are carried out, and certification bodies, along with regulatory agencies and quality control specialists, certify that 3D-printed products meet safety and performance requirements. After printing, post-processing and finishing are often required to meet specific aerospace standards. Distribution and logistics play a key role in ensuring that 3D-printed parts reach aircraft manufacturers in a timely and efficient manner.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Aerospace 3D Printing Market Size By Technology (FDM, SLS, SLA, PBF, Others), By Platform (Commercial Aircraft, Military Aircraft, UAV, Spacecraft, Printers, Materials), By Application (Structural Components, Engine, Spacecraft Components), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Technpology
The SLS segment accounted for the largest market share over the forecast period 2023 to 2033. SLS is well known for its ability to produce complex, highly accurate, and finely geometrized parts. In the aerospace industry, where complicated designs are common, SLS's precision is beneficial. Support structures are not needed for SLS printing because the object's surrounding unsintered powder acts as a natural support. This makes it possible to create complex, hanging structures and does away with the requirement for additional support material and post-processing steps. In aircraft applications, lightweight components are often prioritised to improve overall performance and fuel efficiency.
Insights by Platform
The commercial aircraft segment accounted for the largest market share over the forecast period 2023 to 2033. 3D printing can be used to create lightweight components with optimum shape. In the commercial aviation sector, lowering component weight is crucial to increasing fuel efficiency, lowering operating costs, and abiding by stringent environmental regulations. The overall fuel efficiency of an airliner is increased when parts are manufactured via 3D printing. The ability to create intricate designs, lightweight structures, and improved aerodynamics all help to reduce emissions and fuel usage. Thanks to 3D printing, intricate and sophisticated designs that would be challenging or impossible to produce using conventional manufacturing techniques can now be produced.
Insights by Application
The engine segment accounted for the largest market share over the forecast period 2023 to 2033. Due to 3D printing, intricate and lightweight structures that would be challenging to manufacture using traditional methods may now be produced. The engine segment's internal component and turbine blade designs must be optimised with these features. Metal additive manufacturing, a kind of 3D printing, is widely used in the engine sector to produce high-performance parts. Superalloys and titanium are used to make components that have the required strength, durability, and heat resistance. Thanks to 3D printing, intricate internal cooling channels may be created for engine parts.
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Insights by Region
North America is anticipated to dominate the Aerospace 3D Printing Market from 2023 to 2033. North America is home to several aerospace hubs, such as Seattle, Southern California, and the Space Coast region of Florida. These facilities act as hubs for manufacturing, research, and development operations pertaining to aerospace 3D printing. Commercial aviation companies in North America have started utilising 3D printed parts in their aircraft. This includes producing structural, lightweight, and even essential pieces like engine parts. The defence sector in North America has embraced 3D printing as a way to manufacture parts for military aircraft, unmanned aerial vehicles (UAVs), and space exploration.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The Asia-Pacific region has seen tremendous growth in the aircraft industry. Several countries, including as China, Japan, and India, have made large expenditures in R&D, aircraft manufacturing, and 3D printing technology adoption. Regional 3D printing businesses with a focus on aerospace applications have emerged in the Asia-Pacific region. These companies provide services and solutions for the production of 3D-printed aircraft parts. The commercial aviation sector in the Asia-Pacific area is growing rapidly, which has raised demand for advanced manufacturing technologies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Vendors In the Global Aerospace 3D Printing Market Size include 3D Systems Corporation, ARCAM AB, Aerojet Rocketdyne Holdings Inc, EnvisionTEC GmbH, EOS GmbH, ExOne Co., GE Aviation, Hoganas AB, Materialise NV, Moog Inc., MTU AERO ENGINE, Norsk Titanium, Oerlikon Group, Renishaw plc, Stratasys Ltd., The Trumpf Group, Ultimaker BV, and Others.
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Recent Market Developments
- In November 2020, NASA unveiled the first two three-dimensional printed rocket engine parts: a copper alloy combustion chamber and a high-strength alloy nozzle.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aerospace 3D Printing Market, Technology Analysis
- FDM
- SLS
- SLA
- PBF
- Others
Aerospace 3D Printing Market, Platform Analysis
- Commercial Aircraft
- Military Aircraft
- UAV
- Spacecraft
- Printers
- Materials
Aerospace 3D Printing Market, Application Analysis
- Structural Components
- Engine
- Spacecraft Components
Aerospace 3D Printing Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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