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11630 SW 97 Street, Miami, Florida 33176, US
11630 SW 97 Street, Miami, Florida 33176, US
Market overview:
The Aerospace Additive Manufacturing Market is expected to reach USD 3,183.7 million by the end of 2030. Furthermore, the global market is expected to grow at a CAGR of 20.24% between 2021 and 2030.
The global aerospace additive manufacturing market is expected to expand due to technological advances in additive manufacturing materials. The engine segment is driving market growth as more aviation companies use 3D printing technology to design aircraft engines. Furthermore, the unmanned aerial vehicle segment is driving growth due to the increasing use of additive manufacturing to develop larger drones and UAVs.
Metal alloys commonly used in aerospace additive manufacturing include titanium alloys, stainless steel, copper alloys, aluminum, and nickel-based superalloys. Furthermore, metal alloys are widely used in the production of fuel nozzles, engine injectors, and rocket and missile components.
Globalization of manufacturing and services, functionality and performance, and carbon footprint reduction are all expected to impact the aerospace additive manufacturing sector. Over previous manufacturing technologies, additive manufacturing has many advantages, such as flexible design, a faster production cycle, a lower resource requirement, and significant savings on tooling. This is increasing the industry’s value and interest.
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The pandemic affected various industries, including the aerospace additive manufacturing market. Lockdowns and movement restrictions imposed on the general population led to the demise of 3D printers. Furthermore, global supply chain disruptions hampered market growth. Furthermore, an economic slowdown reduced the market’s reach during the forecast period. However, as the pandemic approaches, the market is expected to rebound due to increased demand from the aerospace and defense sectors and the healthcare sector.
Market segmentation:
The global aerospace additive manufacturing market is segmented by platform, application, technology and material type.
By platform type:
By application type:
By technology type:
By material type:
Regional analysis:
The regional analysis of the global aerospace additive manufacturing market is divided into Asia-Pacific, Middle East & Africa, North America, Latin America and Europe.
The North American region dominated the global aerospace additive manufacturing market with a 38.86% market share in 2018. It is expected to achieve the highest CAGR for the research timeframe of 2025. This region has experienced greater growth due to prominent companies such as 3d systems, inc. and Stratasys ltd.
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Due to rising investment in aerospace and defense additive manufacturing from emerging economies such as France, Germany, the United Kingdom, and Russia, Europe will hold a significant market share in terms of global contribution. Increased spending on the aviation sector, as well as increased procurement of advanced defense equipment using 3D printed manufacturing, will drive market growth.
Due to rising expenditure on lightweight components, Asia-Pacific will see moderate growth during the forecast period.
Recent developments:
Primus Aerospace joined the VELO partner network in March 2021 after adapting the Ti6Al4V Sapphire metal additive manufacturing (AM) system. This is the first titanium-specific metal 3D printer for aerospace and defense applications.
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