Growing demand for lightweight parts & components in aerospace industry to drive global aerospace 3D printing market through 2024.
According to TechSci Research report, “Global Aerospace 3D Printing Market By Vertical, By Industry, By Material, By Printer Technology, By Material Application, By Region, Competition, Forecast & Opportunities, 2024”, global aerospace 3D printing market is expected to witness positive growth in the coming years as aircraft manufacturers are opting for 3D printing technology to manufacture aircraft components and parts. 3D printing technology is gaining traction in various verticals including aerospace as manufactured parts can be made with little wastage and reduced time. Moreover, accuracy and reduction of errors while manufacturing of parts is further positively influencing the growth of global aerospace 3D printing market.
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Global aerospace 3D printing market can be segmented based on vertical, industry, material, printer technology and material application. Among vertical, material segment is likely to grow at substantial rate due to the increasing use of materials for printing aircraft components. On the basis of industry, the market can be segmented into aircraft, UAV and spacecraft. Aircraft segment is witnessing extensive adoption of 3D printing technology on account of increasing number of aircraft backed by elevating air traffic.
Stratasys Ltd., The Exone Company, Materialise NV, Arcam AB, MTU Aero Engines AG, 3D Systems Corporation, Envisiontec GmbH, EOS GmbH, Norsk Titanium AS, Aerojet Rocketdyne, Sintavia LLC, Oerlikon Management AG, Lockheed Martin, etc., are some of the leading players operating in global aerospace 3D printing market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. In 2017, Stratasys was selected by airbus for manufacturing parts of A350 XWB using 3D printing technology.
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“North America, followed by Europe, is anticipated to lead global aerospace 3D printing market through 2024 owing to the high adoption rate of 3D printing in aerospace industry. Moreover, presence of leading players in the region and approvals by the authorities such as FAA for the use of 3D printing technology in commercial jet engines would positively influence the growth of North America aerospace 3D printing market during forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Aerospace 3D Printing Market By Vertical, By Industry, By Material, By Printer Technology, By Material Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global aerospace 3D printing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global aerospace 3D printing market.
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