New York, United States , July 10, 2024 (GLOBE NEWSWIRE) -- The Global Aerospace and Defense Additive Manufacturing Market Size to Grow from USD 4.8 Billion in 2023 to USD 14.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.46% during the forecast period.
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The aerospace and defence additive manufacturing market is expanding rapidly, propelled by advances in 3D printing technology and rising demand for lightweight, high-strength components. This market covers a wide range of applications, including the manufacture of sophisticated engine parts, aircraft structures, and specialised components for military and space applications. The advantages of additive manufacturing, such as reduced material waste, quicker production cycles, and the ability to create complicated designs, are major motivators for its adoption. Key industry companies are investing in RandD to improve the capabilities of additive manufacturing technology. Furthermore, regulatory agencies are adopting standards to verify the quality and dependability of 3D-printed parts, which will increase market confidence and growth.
Browse key industry insights spread across 240 pages with 110 Market data tables and figures & charts from the report on the "Global Aerospace and Defense Additive Manufacturing Market Size, Share, and COVID-19 Impact Analysis, By Platform (Aviation (Aircraft and UAV), Defense (Combat Vehicles, Military PPE, Weapons, Submarine Hulls, and Others), Space (Engines, Satellites, Spacecraft, and Rockets)), By Vertical (Printer, Material, and Others), By Application (Engine Components, Space Components, Structural Components, Defense Equipment, and Others), By Technology (FDM, DMLS, SLA, CLIP, SLS, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033"
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Insights by Platform
The defence segment accounted for the largest market share over the forecast period 2023 to 2033. Additive manufacturing enables the production of lightweight, durable parts with complicated geometries, which are critical for modern defence applications such as unmanned aerial vehicles (UAVs), missiles, and advanced combat aircraft. The capacity to quickly develop and manufacture unique components improves operational efficiency and adaptability in defence strategies. Furthermore, the technology's ability to simplify supply chains and decrease logistical problems is especially useful in remote or war areas.
Insights by Vertical
The printer segment is dominating the market with the largest market share over the forecast period 2023 to 2033. The advent of 3D printing technology to build complicated, high-performance components is driving this rise. Additive manufacturing is becoming increasingly viable for aerospace and defence applications as 3D printer technology advances, including increases in precision, speed, and material capability. Manufacturers are rapidly investing in sophisticated printers to create lightweight, long-lasting parts that match industry standards. The development of multi-material and metal 3D printers has broadened the spectrum of applications, allowing for the manufacture of key engine parts, airframes, and custom components.
Insights by Application
The space components segment accounted for the largest market share over the forecast period 2023 to 2033. Additive manufacturing enables the creation of complicated geometries and customised components, which are crucial for improving performance and lowering spaceship weight. This technique enables rapid prototyping and shorter manufacturing cycles, allowing for more frequent revisions and advancements in space hardware. NASA and private space companies such as SpaceX are using 3D printing to manufacture anything from satellite components to rocket engines. The capacity to manufacture parts on-demand in space conditions opens up new options, encouraging growth and investment in this industry.
Insights by Technology
The FDM segment is dominating the market with the largest market share over the forecast period 2023 to 2033. FDM technique builds layers of parts from thermoplastic materials such as ABS and nylon, making it excellent for producing lightweight components with good mechanical qualities. In aerospace and defence, FDM is used to create drones, tools, fixtures, and even structural components for aeroplanes and spacecraft. The ability to develop designs quickly and manufacture complicated geometries without traditional tooling limits is a significant advantage. As FDM printers become more advanced and capable of handling high-performance materials, their use in the aerospace and defence industries is likely to increase, driving innovation and efficiency in manufacturing processes.
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Insights by Region
North America is anticipated to dominate the Aerospace and Defense Additive Manufacturing Market from 2023 to 2033. Strong technology improvements and huge RandD spending are driving the rise. The presence of large aerospace and defence firms creates a strong demand for 3D-printed components, which improve performance and lower production costs. Government backing and financing for defence initiatives, such as those conducted by NASA and the Department of Defence, further stimulate industry growth. The region's well-established infrastructure and qualified personnel also help to drive the rapid adoption of additive manufacturing technologies. Furthermore, cooperation among academic institutions, industry leaders, and research organisations generate constant innovation, bolstering North America's position as a key player in the global aerospace and defence additive manufacturing market.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The region's robust manufacturing base and emphasis on technological breakthroughs encourage the use of 3D printing to produce lightweight, complicated components. Government measures that encourage research and development, as well as cooperation between local enterprises and worldwide leaders, help to drive market growth. Furthermore, the growing commercial aviation sector in Asia-Pacific presents significant prospects for incorporating additive manufacturing to improve efficiency and cost-effectiveness in aircraft manufacture and maintenance.
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 players in the Global Aerospace and Defense Additive Manufacturing Market General Electric Company, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE, Northrop Grumman Corporation, BAE Systems, Safran SA, Rolls-Royce Holdings, Honeywell Aerospace, Siemens Digital Industries Software, OC Oerlikon Corporation AG, Moog Inc., Aerojet Rocketdyne Holdings Inc., Carpenter Technology Corporation, Renishaw PLC, GKN Aerospace, Stratasys Ltd., EOS GmbH, 3D Systems Corporation, Proto Labs Inc., Materialise NV, Desktop Metal Inc., SLM Solutions Group AG, Optomec Inc., Sintavia, Additive Industries, Optisys LLC, CRP Technology SRL, BeAM Machines Inc., and Other Key Vendors
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Recent Market Developments
- In February 2021, The US Department of Defence has signed a USD 1.6 million contract with ExOne for container 3D printing plants. According to the agreement, the company will construct a 3D printing pod in a standard shipping container measuring up to 40 feet long.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aerospace and Defense Additive Manufacturing Market, Platform Analysis
- Aviation
- Aircraft
- UAV
- Defense
- Combat Vehicles
- Military PPE
- Weapons
- Submarine Hulls
- Others
- Space
- Engines
- Satellites
- Spacecraft
- Rockets
Aerospace and Defense Additive Manufacturing Market, Vertical Analysis
- Printer
- Material
- Others
Aerospace and Defense Additive Manufacturing Market, Application Analysis
- Engine Components
- Space Components
- Structural Components
- Defense Equipment
- Others
Aerospace and Defense Additive Manufacturing Market, Technology Analysis
- FDM
- DMLS
- SLA
- CLIP
- SLS
- Others
Aerospace and Defense Additive Manufacturing 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
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East and Africa
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