3D printing of parts is a new technology that has come up with the prospective to alter the way enterprise build new products, together with parts for defence and aerospace. The aerospace and defense industry is a great example of utilization of additive manufacturing (AM) with a clear value proposition and the ability to create parts that are stronger and lighter than parts made using traditional manufacturing.
London, AZ -- (SBWIRE) -- 01/24/2020 -- Aerospace 3D Printing Market is valued at USD 889.8 Million in 2018 and expected to reach USD 4889.5 Million by 2025 with the CAGR of 27.56 % over the forecast period. Growing fleet size of various airlines and increasing demand for lightweight components of aircraft are expected to drive the growth of the aerospace 3D printing market during the forecast period.
Some major key players for aerospace 3D printing market are Stratasys Ltd.3D Systems Corporation, The ExOne Company, EOS GmbH, Arcam AB, Ultimaker B.V., Höganäs AB, Materialise NV, Organovo Holdings Inc, Solvay S.A., Sandvik, Arconic, GKN and among others..
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3D printing of parts is a new technology that has come up with the prospective to alter the way enterprise build new products, together with parts for defence and aerospace. The aerospace and defense industry is a great example of utilization of additive manufacturing (AM) with a clear value proposition and the ability to create parts that are stronger and lighter than parts made using traditional manufacturing. This production of 3D printing tools has evolved in a short span of time and is able of producing complex components among different types of materials which includes titanium, steel, aluminum and different variety of plastics. The aerospace and defense industry was a very early adopter of 3D printing and still continues to contribute heavily to its development. Some aerospace companies began using this technology as early as 1989 and over the next couple of decades, the adoption of 3D printing increased significantly.
Aerospace 3D Printing Market Segmentation:–
By Vertical (Material, Printers), By Industry (Aircraft, UAV, Spacecraft), By Printer Technology (SLA, SLS, DMLS, FDM, Clip), By Applications (Engine, Structural, Space Components)
The development of the aircraft segment of the aerospace 3D printing market can be attributed to rising number of aircrafts to provide the increasing air passenger traffic across the globe. In addition, increasing adoption of 3D printing technology for the development of lightweight components and parts of aircraft is also expected to drive the growth of the aircraft segment of the aerospace 3D printing market during the forecast period. However, stringent regulations with respect to replication accuracy of components, inadequate availability and standardization of materials, process control standards, and limited awareness about the technology may hamper the growth of aerospace 3D printing market. Moreover, rising demand for smaller and lightweight engine components and rising adoption of additive technologies among OEMs are expected to create lucrative growth opportunities for the global aerospace 3D printing market during the forecast period.
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