Additive Manufacturing is a technological advancement that builds 3D objects by adding layer-upon-layer of material, whether the material is plastic, metal, ceramic or concrete. It has made possible for the transition of analog to digital processes. Additive manufacturing (AM) is widely used in Aerospace industry as it is a transformative approach that enables the creation of lighter and stronger parts. It is used in various applications of aerospace industry that includes commercial and military aircraft, space applications, as well as missiles systems. Additive Manufacturing minimise or eliminates the cost for expensive and poorly amortized tooling , it gives rise to near-net shape parts, and it allows increasing design complexity without inflating manufacturing costs. Further, it helps to reduce weight of aerospace components by printing more efficient geometries and improves fuel efficiency of the aircrafts.
Aerospace Additive Manufacturing Market Outlook
- Additive manufacturing helps to reduce aircraft weight that in turn reduces carbon footprint. Rising concerns of carbon footprint reduction and adoption of green manufacturing is driving the growth of market
- In addition, adoption of additive manufacturing in aerospace industry to build 3D printed parts or components is also expected to boost the market growth
Aerospace Additive Manufacturing Market COVID-19 Impact
- The worldwide crisis of COVID-19 pandemic has hampered various industries worldwide and has led to calls for action from a various stakeholders that includes manufacturers, vendors, distributors, and consumers
- Due to worldwide lockdown there has been a declination in business with lower demand from some major markets that has impacted negatively on the profitability of Aerospace Additive Manufacturing manufacturers and vendors
Aerospace Additive Manufacturing Market Segmental Highlights
- The global aerospace additive manufacturing market is analysed based on type, platform, technology, application, and geography
- Based on type, the aerospace additive manufacturing market is broadly segmented into plastics, metal, rubber, and others
- Platform segment is classified as Aircraft, Unmanned Aerial Vehicle, and Spacecraft
- Based on technology it is segmented as 3D printing, Stereolithography, Fused Deposition Modelling, Multi-Jet Modelling, and Laser Sintering
- Aerospace additive manufacturing is used in various application of aerospace such as Engine and Airframe
Aerospace Additive Manufacturing Market Regional Trends
The global aerospace additive manufacturing market is studied across various key countries of regions such as North America, Europe, Asia Pacific and Rest of the World. North America accounted for the largest market share in the market during the forecast period. The growth of the market in the region can be attributed to the factors such as presence of various key players in the region and increasing demand of weight reduction of aircrafts parts to reduce the carbon footprint concerns.
Aerospace Additive Manufacturing Market Key Players
The key competitors of this market include are 3D Systems, Inc., Arcam AB, Concept Laser GmbH, CRP Technology S.R.L., CRS Holdings Inc., EOS, ExOne, Optomec, SLM Solution Group AG, and Stratasys Ltd. among others. In March 2020, Stratasys Ltd. produced over 1000 3D printed flight parts on Stratasys FDM Production Systems for the Airbus A350 XWB Program.
The global aerospace additive manufacturing market is analysed based on type, platform, technology, application, and geography. The aerospace additive manufacturing market is broadly segmented on the basis of material type as plastics, metals, rubber, and others.
Platform segment is classified as Aircraft, Unmanned Aerial Vehicle, and Spacecraft. Based on technology it is segmented as 3D printing, Stereolithography, Fused Deposition Modelling, Multi-Jet Modelling, and Laser Sintering. Application studied in the report are Engine and Airframe.
Why to buy this report:
- The report offers changing market dynamics in the aerospace additive manufacturing market, presenting historical, current and projected market size in terms of value (USD Million)
- The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of aerospace additive manufacturing
- It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the aerospace additive manufacturing market performance considering the COVID-19 pandemic
