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Aerospace Additive manufacturing Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
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LONDON, GREATER LONDON , UNITED KINGDOM, September 20, 2024 /EINPresswire / -- The aerospace additive manufacturing market has experienced robust growth in recent years, expanding from $3.14 billion in 2023 to $5.38 billion in 2024 at a compound annual growth rate (CAGR) of 71.4%. The growth in the historic period can be attributed to weight reduction and fuel efficiency, complex geometries and design flexibility, cost reduction and efficiency improvements, materials advancements, rapid prototyping and iterative design.
What Is The Estimated Market Size Of The Global Aerospace Additive Manufacturing Market And Its Annual Growth Rate?
The aerospace additive manufacturing market is projected to continue its strong growth, reaching $11.28 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to increasing adoption in commercial aviation, advancements in print speed and scale, supply chain resilience and localized production, emerging materials and composites, sustainable manufacturing practices.
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Growth Driver Of The Aerospace Additive Manufacturing Market
The growing commercial satellite industry is expected to propel the growth of the aerospace additive manufacturing market going forward. Commercial satellite refers to a satellite launched for business purposes. Satellite radio is a sort of digital broadcast that sends audio signals over huge geographic areas with higher levels of consistency and clarity than traditional radio. The adoption of aerospace additive manufacturing in the commercial satellite industry brings about improvements in design flexibility, cost-effectiveness, and performance, improved thermal management, reduction of assembly complexity, and contributing to the overall advancement of satellite technologies.
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Which Market Players Are Steering the Aerospace Additive Manufacturing Market Growth?
Key players in the aerospace additive manufacturing market include 3D Systems Corporation, Arcam AB, Concept Laser GmbH, CRP Technology Srl, EOS GmbH Electro Optical Systems, ExOne Company, Optomec Inc., SLM Solutions Group AG, Stratasys Ltd., CRS Holdings Inc., General Electric Company, 3DCeram S.A.S., Carpenter Technology Corporation, Arconic Corporation, Markforged, Airbus SE, Boeing Company, Bombardier Inc., Embraer S.A.
What Are the Dominant Trends in Aerospace Additive Manufacturing Market Overview?
Technological advancements are a key trend gaining popularity in the aerospace additive manufacturing market going forward. Major companies operating in the aerospace additive manufacturing market are developing innovative technologies to strengthen their position in the market.
How Is The Global Aerospace Additive Manufacturing Market Segmented?
1) By Material Type: Metal Alloy, Plastic, Rubber, Other Materials
2) By Technology: Laser Sintering, 3D Printing, Electron Beam Melting, Fused Deposition Modeling, Stereo Lithography, Other Technologies
3) By Platform: Aircraft, Unmanned Aerial Vehicle, Spacecraft
4) By Application: Engine, Structural, Other Applications
Geographical Insights: North America Leading The Aerospace Additive Manufacturing Market
North America was the largest region in the aerospace additive manufacturing market in 2023. The regions covered in the aerospace additive manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Aerospace Additive Manufacturing Market Definition
Aerospace additive manufacturing, also known as 3D printing in aerospace, refers to the use of additive manufacturing technologies to produce aerospace components and parts. This process involves building up layers of material, such as metals, polymers, or composites, to generate intricate forms and structures that would be difficult or impossible to produce using typical manufacturing processes.
Aerospace Additive Manufacturing Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global aerospace additive manufacturing market report covering trends, opportunities, strategies, and more
The Aerospace Additive Manufacturing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on aerospace additive manufacturing market size, aerospace additive manufacturing market drivers and trends, aerospace additive manufacturing market major players, aerospace additive manufacturing competitors' revenues, aerospace additive manufacturing market positioning, and aerospace additive manufacturing market growth across geographies. The aerospace additive manufacturing market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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