Industry Background:
Additive manufacturing is defined as the transformative approach of joining materials to make objects from 3D model data. It is also known as 3D printing. Additive manufacturing is widely used in the aerospace industry for rapid prototyping and numerous material such as metal alloy, plastic, rubber, among others are used in aerospace additive manufacturing. It helps to reduced costs and increased efficiency while shortening time to market. Also, it offers greater design flexibility. It optimizes for organic shapes & structure and provides leverages for light-weighting. It improves DMLS parts with CNC milling and reduces multi-component assemblies.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Stratasys, Ltd. (Israel), EOS GmbH (Germany), 3D Systems (United States), GE Aviation (United States), ExOne (United States), Arcam AB (Sweden), CRS Holdings Inc. (South Africa), Concept Laser GmbH (Germany), CRP Technology S.R.L (Italy) and SLM Solutions Group AG (Germany) |
This growth is primarily driven by Continuous Growth in the Aerospace Industry across the World and Technological Advancement in Additive Manufacturing and Increasing Expenditure in Aerospace Industry and Rising Demand of Lighter Aircraft Components.
Globally, a noticeable market trend is evident Rising Demand of Highly Flexible Processing Technique That Can Be Applied To Various Material The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Stratasys, Ltd. (Israel), EOS GmbH (Germany), 3D Systems (United States), GE Aviation (United States), ExOne (United States), Arcam AB (Sweden), CRS Holdings Inc. (South Africa), Concept Laser GmbH (Germany), CRP Technology S.R.L (Italy) and SLM Solutions Group AG (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The aerospace additive manufacturing market is highly fragmented with the presence of various players. Some of the leading players in the aerospace additive manufacturing market are Stratasys, Ltd. (Israel), GE Aviation (United States), EOS GmbH (Germany), 3D Systems (United States), among others
Key Developments in the Market:
In June 2019, the GE Aviation (United States) Company has announced metal additive manufacturing deals with Avio S.p.A. (Italy) company, which offers to make objects from 3D model data. Hence, this agreement will, in turn, propel the growth of aerospace additive manufacturing market
In April 2023, Stratasys Ltd., a leader in polymer 3D printing solutions, acquired Covestro AG's additive manufacturing materials business. The immediate, growing acquisition includes R&D facilities and activities, global development and sales teams across Europe, the US, and Asia, a portfolio of approximately 60 additive manufacturing materials, and a broad IP portfolio comprising hundreds of patents and pending patents.
Influencing Trend:
Rising Demand of Highly Flexible Processing Technique That Can Be Applied To Various Material
Market Growth Drivers:
Continuous Growth in the Aerospace Industry across the World and Technological Advancement in Additive Manufacturing and Increasing Expenditure in Aerospace Industry and Rising Demand of Lighter Aircraft Components
Challenges:
Increasing Issues in Inconsistent accuracy and replicability regarding the quality of product and Restriction related to the Volume of Construction as well as the Size of the Product
Restraints:
Stringent Regulation regarding Technical Standards for Polymer 3D Printing and High Capital Investment Associated with Aerospace Additive manufacturing
Opportunities:
Growing Demand from Emerging Economics such as China, India, Brazil, Philippines, among others and Government Initiatives to Promote Aerospace Industry in Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Aerospace Additive Manufacturing Market
- Analysis about New Entrants in Aerospace Additive Manufacturing Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Aerospace Additive Manufacturing Study Sheds Light on
The Aerospace Additive Manufacturing Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Aerospace Additive Manufacturing industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Aerospace Additive Manufacturing industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.