Global Aerospace 3D Printing Market Size & Share Expected to Gain USD 2.18 Billion By 2028, at CAGR: 24.1%
The global aerospace 3D printing market size is expected to reach USD 2.18 billion by 2028 according to a new study by Polaris Market Research.
The aerospace industry is a prime candidate for three-dimensional technology mainly due to short turn-around times and significantly reduced production runs achieved through three-dimensional printing. The technology also fosters innovation by reducing costs, significantly reducing part count, and enhancing part finish which is intensifying its growth in the global industry. Besides, there is also a trend of reducing carbon emissions in the industry, which is well addressed by three-dimensional printing driven by optimum utilization of materials with lower scrape rate and significant weight reduction, which improves fuel economy and reduces carbon footprints.
Among technology types, selective laser sintering has been increasingly adopted by leading players in the industry, witnessing significant growth in the industry. In May 2021, Materialise (a leading player in the three-dimensional technology market) qualified its laser-sintered parts made with PA 2241-FR across Airbus for flight-ready parts. The technology enables cost-effective production, thereby meeting the strict quality standards.
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The growing need for reducing lead time, saving manufacturing costs, and improving fuel economy has grabbed the attention of three-dimensional technology among emerging Asian economies, thereby opening room for small to mid-sized industry tier players and three-dimensional parts producing start-ups willing to expand into the industry with unique offerings. Industry participants such as Aerojet Rocketdyne, Stratasys Ltd., Ultimaker B.V., 3D Systems Corporation, The ExOne Company, Arcam AB, GE Aviation, Hoganas AB, Envision GmbH, and EOS GmbH are some of the key players competing in the global market.
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Polaris Market Research has segmented the aerospace 3D printing market report on the basis of technology, platform, vertical, application, and region:
Aerospace 3D Printing, Technology Outlook (Revenue – USD Million, 2016 – 2028)
Aerospace 3D Printing, Platform Outlook (Revenue – USD Million, 2016 – 2028)
- Commercial Aircraft
- Military Aircraft
Aerospace 3D Printing, Vertical Outlook (Revenue – USD Million, 2016 – 2028)
Aerospace 3D Printing, Application Outlook (Revenue – USD Million, 2016 – 2028)
- Structural Components
- Spacecraft Components
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