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Global Aerospace Additive Manufacturing Market to Grow at a CAGR of 19.70% During 2022-2027, Driven by the Growing Aerospace Industry

According to a new report by EMR titled, ‘Global Aerospace Additive Manufacturing Market Report and Forecast 2022-2027’, the market is estimated to grow at a CAGR of 19.70% in the forecast period of 2022-2027.

Technological advancements and innovations in the robustly growing aerospace industry is expected to bolster the market growth of aerospace additive manufacturing in upcoming years. The rapid economic development and growing environmental concerns are surging the 3D printing technology to develop cost-effective and lightweight aircraft components and parts. With the growing focus on contributions of the aviation and aerospace industries to climate change and environmental pollution, the efforts to surge the energy efficiency of aircraft to reduce greenhouse emissions is expected to increase, which is likely to further fuel the market growth. Based on region, North America is expected to hold the significant market share for aerospace additive manufacturing. This can be attributed to the increasing manufacturing of aircraft by utilising additive manufacturing technologies owing to the presence of the prominent companies in the region.

The market is being aided by the growing development of advanced additive manufacturing solutions for extended applications in the aerospace sector by key players, such as 3D Systems Inc. (NYSE: DDD) and General Electric Company (NYSE: GE). For instance, in November 2021, the former announced the introduction of new additive manufacturing solutions, including New dual laser DMP Flex 350 and DMP Factory 350, to decrease build time and offer cost-effectiveness. Their usage foster innovation for multiple applications, including aerospace. These latest inclusions in the company’s DMP portfolio deliver the benefits of single-laser configurations, such as application use and quick-swap build modules, integrated powder recycling, and a central server to handle print jobs, settings, materials, and maintenance for entire day productivity.

Market Analysis by Platform, Material Type, Application, Technology, and Region:

  • The market, on the basis of platform, can be divided into aircraft, unmanned aerial vehicle, and spacecraft.
  • By material type, the market is segregated into metal alloy, plastic, and rubber, among others.
  • Based on application, the market can be divided into engine and structural, among others.
  • On the basis of technology, the market is segmented into 3-D printing, laser sintering, stereo lithography, fused deposition modelling, and electron beam melting.
  • The regional markets for aerospace additive manufacturing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for additive manufacturing in the aerospace industry owing to its numerous benefits is boosting the market growth of aerospace additive manufacturing.
  • The surging air traffic due to rising living standards and the growing commercialisation of the aircraft industry is fuelling the market for aerospace additive manufacturing.
  • The market for aerospace additive manufacturing is being propelled by the increasing number of airports and rising concerns regarding greenhouse emissions from conventionally manufactured aircraft parts.
  • Technological advancements and innovations in additive manufacturing are surging its demand in the aerospace industry, thereby augmenting the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global aerospace additive manufacturing market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the platforms, material types, applications, technologies, and major regions of aerospace additive manufacturing.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for aerospace additive manufacturing include 3D Systems Inc., ExOne GmbH, Optomec, Inc., The General Electric Company, and EOS GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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