What is the global market size of Aerospace 3D Printing Market?

Aerospace 3D Printing Market size was valued at USD 1.60 billion in 2021 and is poised to grow from USD 1.94 billion in 2022 to USD 9.16 billion by 2030, at a CAGR of 21.4% during the forecast period (2023-2030).

Who are the key vendors in the Global Aerospace 3D Printing Market?

Global Aerospace 3D Printing Market is characterized by the presence of several prominent players offering a wide range of 3D printing solutions and services. These players compete on factors such as product offerings, technological advancements, partnerships, and customer relationships. The competitive landscape is dynamic, with new entrants and advancements in technology continually shaping the market. It's advisable to refer to the latest market reports and industry publications for a comprehensive view of the competitive landscape. 'General Electric Company (US)', 'Stratasys Ltd. (US)', '3D Systems Corporation (US)', 'EOS GmbH (Germany)', 'ExOne Company (US)', 'Materialise NV (Belgium)', 'Arcam AB (Sweden)', 'SLM Solutions Group AG (Germany)', 'Renishaw plc (UK)', 'Proto Labs, Inc. (US)', 'HP Inc. (US)', 'Concept Laser GmbH (Germany)', 'Carpenter Technology Corporation (US)', 'Norsk Titanium AS (Norway)', 'EnvisionTEC GmbH (Germany)', 'Optomec Inc. (US)', 'Additive Industries (Netherlands)', 'GKN Aerospace (UK)', 'Boeing (US)', 'Airbus SE (Netherlands/France)'.

What is the key driver of Global Aerospace 3D Printing Market?

One of the main drivers of the aerospace 3D printing market is the cost-effectiveness of the technology. 3D printing allows manufacturers to produce complex parts with fewer materials and lower production costs, which is especially important in the aerospace industry where cost savings are a top priority. For example, General Electric has used 3D printing to produce fuel nozzles for their LEAP engine, reducing the number of parts from 20 to one and resulting in significant cost savings.

What is the key market trend for Global Aerospace 3D Printing Market?

Use of 3D printing for on-demand spare parts: A key trend in the aerospace 3D printing market is the use of technology to produce on-demand spare parts. As aircraft become more complex and specialized, the need for specific spare parts increases. 3D printing allows manufacturers to produce parts quickly and cost-effectively, reducing the time and cost associated with traditional spare part production and inventory management.

Which region accounted for the largest share in Global Aerospace 3D Printing Market?

Leading the charge in the aerospace 3D printing market is North America, a region known for its cutting-edge technological advancements and robust aerospace industry. North America has established itself as the epicenter of aerospace innovation, with major aerospace companies and research institutions driving the development and adoption of 3D printing technology. The region's dominance can be attributed to several factors. Firstly, North America boasts a strong network of aerospace manufacturers and suppliers, enabling seamless integration of 3D printing technology into existing production processes. Additionally, the region benefits from a highly skilled workforce, advanced infrastructure, and substantial investments in research and development. Furthermore, governments in North America have been proactive in promoting 3D printing initiatives, offering incentives and funding programs to accelerate technological advancements in the aerospace sector. These initiatives have fostered collaboration between industry leaders, academia, and government bodies, creating a fertile ground for aerospace 3D printing to flourish.

Aerospace 3D Printing Market Size, Share, Growth Analysis, By Material Type(Metals, polymers, ceramics, and composites), By Application(Commercial aviation, defense and military aircraft, and space exploration), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20A2171 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 64 | Figures: 75

Aerospace 3D Printing Market News

In September 2023, Boeing announced successful testing of advanced 3D-printed titanium components for aerospace applications. This creates opportunities for building lightweight structures without compromising on their strength and durability. As for Boeing’s recent work on additive manufacturing, the goal is to improve the production cycle and reduce the cost of the elements used in designing an aircraft.
In October 2023, Airbus opened a new center for additive manufacturing in Germany which is focused on the optimization of 3D printing of aircraft components. Equipped with modern technologies, this facility is expected to improve the operations and decrease the turnaround times. With the growth of 3D printing technologies, Airbus hopes to bring more environmentally friendly practices to the manufacturing of aircraft.
In November 2023, GE Aviation made the announcement of a new manufacturing method which combines rotary surface machining with 3D printing process. Such an approach helps achieve the production of intricate details without risking the principles of quality and operability. GE’s innovations will improve jet engine components manufacture and thereby increasing productivity in the aviation industry.

Aerospace 3D Printing Market Report Snapshots

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Aerospace 3D Printing Market size was valued at USD 1.94 Billion in 2022 and is poised to grow from USD 2.36 Billion in 2023 to USD 11.11 Billion by 2031, at a CAGR of 21.4% during the forecast period (2024-2031).

The global aerospace 3D printing market shows enormous creativity and interaction among the key players. This is the case of companies such as Boeing, Airbus, GE Aviation, and Stratasys which have embraced newer forms of advanced additive manufacturing technology. These companies specifically seek to improve production efficiency, decrease costs, and innovate in the area of lightweight structural parts. In addition, the members of the industry are also developing materials and technologies together with research institutes which enhances competitiveness and development of the industry in the aerospace sector. 'General Electric Company (US)', 'Stratasys Ltd. (US)', '3D Systems Corporation (US)', 'EOS GmbH (Germany)', 'ExOne Company (US)', 'Materialise NV (Belgium)', 'Arcam AB (Sweden)', 'SLM Solutions Group AG (Germany)', 'Renishaw plc (UK)', 'Proto Labs, Inc. (US)', 'HP Inc. (US)', 'Concept Laser GmbH (Germany)', 'Carpenter Technology Corporation (US)', 'Norsk Titanium AS (Norway)', 'EnvisionTEC GmbH (Germany)', 'Optomec Inc. (US)', 'Additive Industries (Netherlands)', 'GKN Aerospace (UK)', 'Boeing (US)', 'Airbus SE (Netherlands/France)'

Cost-effective measures form an important part of the global aerospace 3D printing market. In that regard, additive manufacturing leads to reduced production costs and minimized waste. Minimizing lead times and operational costs for the aerospace manufacturers allows for extensive process optimization as well as enhanced profit margins due to the ability of the market to create complex shapes without a lot of tools.

Increased Adoption of Lightweight Materials: The increasing popularity of online shopping, especially in terms of grocery home delivery, has necessitated the need for quick cold storage. The tendency of consumers to expect timely delivery of fresh and frozen food products has compelled the retailers to make advanced investments in the cold chain and logistics to satisfy the changing demands of the market.

North America is dominating the global aerospace 3D printing market due to its robust aerospace industry, characterized by major players like Boeing, Lockheed Martin, and Airbus, which heavily invest in advanced manufacturing technologies. Strong government backing and funding for aerospace research and development within the region encourages innovation in additive manufacturing. In addition, the availability of top 3D printing technology companies and established supply chains encourages fast embracement of new technologies. Moreover, the growing need for lightweight and tailor-made parts Global North in addition to stringent rules advocating efficiency and looking for sustainability gives rise to a booming ‘aerospace 3D printing’, especially in North America.

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Aerospace 3D Printing Market Size, Share, Growth Analysis, By Material Type(Metals, polymers, ceramics, and composites), By Application(Commercial aviation, defense and military aircraft, and space exploration), By Region - Industry Forecast 2024-2031

Aerospace 3D Printing Market News

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FAQs

What is the global market size of Aerospace 3D Printing Market?

Who are the key vendors in the Aerospace 3D Printing Market?

What is the key driver of Aerospace 3D Printing Market?

What is the key market trend for Aerospace 3D Printing Market?

Which region accounted for the largest share in Aerospace 3D Printing Market?

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