Pune, India -- (SBWIRE) -- 09/11/2018 -- Industry Overview

The global aerospace additive manufacturing market is anticipated to expand at a 20% CAGR from 2017 to 2023 (forecast period), according to a report by Market Research Future (MRFR). Additive manufacturing (AM) or 3D printing refers to process or processes used in manufacturing three-dimensional objects. Demand for economically-priced materials to combat the expensive nature of raw materials used in producing components is expected to drive market growth during the forecast period.

Demand for short production time, lightweight components, and low fuel consumption are factors driving the aerospace additive manufacturing market. The aerospace industry has been heavily dependent on composite materials for its production needs. Early adoption of 3D printing by the industry to produce complex parts will provide it with an undue advantage over other industries. Increasing fleets of airlines and high frequency of air travel are estimated to boost market volume over the forecast period.

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Major Key Players

3D Systems (U.S.),
Arcam AB (Sweden),
EOS (Germany),
ExOne (U.S.),
Stratasys (U.S.),
ATI (U.S.),
Carpenter Technology (U.S.),
Concept laser (U.S.),
CRP Technology (Italy),
Optomec (U.S.), Proto Labs (U.S.), Renishaw Plc. (U.K.), SLM Solutions (Germany), and Voxeljet (Germany) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global aerospace additive manufacturing market.

March 2018 – EOS announced the sale of two of its flagship printers to Morf3D, a cutting-edge additive design, and manufacturing company. EOS technology would be used by Morf3D to manufacture the flight hardware for Boeing and Honeywell.
September 2017 – Arcam AB have opened state-of-the-art powder manufacturing facility in Quebec, Canada.

Segmentation:

For the convenience of the report and enhanced understanding; The Aerospace Additive Manufacturing Market is segmented in to 2 key dynamics
Segmentation by Technology: 3D Printing, Laser Sintering, Stereo Lithography, Fused Deposition Modeling, and Electron Beam Melting.
Segmentation by Regions: Comprises Geographical regions - Americas (North & Latin)
, Europe, APAC and Middle East & Africa.

Competitive Analysis

Aerospace industry is one of the early adopter of AM technology. It is also one of the single largest major market segment, currently constituting 12% of the total AM market. The major turning point for the increased adoption of AM in the aerospace industry has been the increased penetration of improved metal-based AM system since 2011. These industrial grade AM systems provide a relatively better advantages in terms of build speed, cost and materials rationalization. Also, AM is regarded as the disruptive force that will lead the future of manufacturing, as it offers new ground for innovation, logistical advantages, and on-demand product manufacturing capability.
Also major aerospace companies such as Boeing, Airbus and GE are actively involved in AM. In 2012, GE bought AM Morris Technologies, one of the biggest metal AM companies in the world. The company has ramped up AM manufacturing for aero engine parts. Increasing sales of AM systems, materials, technological advances, and increased use of AM for various aerospace parts indicate a rapid growth in aerospace additive manufacturing market.

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Region Analysis

US also has an advanced aerospace manufacturing base and spends a substantial amount on large R&D projects. However, the traditional manufacturing base are slowly shifting towards the APAC region, because of competitive and low-cost manufacturing capability in APAC. AM provides an important opportunity to the US to develop the high-tech manufacturing capability, and revive the competitiveness and market potential of the US manufacturing industry. Despite the current limitations of AM in terms of large scale production capability, AM provides unique opportunities to the aerospace sector, mainly to produce low-volume, and highly complex products.
Many companies have realized the superior benefits of AM in comparison to the conventional manufacturing, and have employed AM to achieve supply chain efficiencies, and reduced time-to-market. As a result, AM has received the much needed attention in policy as well as manufacturing circles in the US.

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