Aerospace 3D Printing Market Is Forecasted To Reach US$ 4.5 Billion In 2027, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global Aerospace 3D Printing Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Segment Insights on the Aerospace 3D Printing Market:

The global aerospace 3D printing market is segmented based on industry type, vertical type, material application type, printer technology type, and region.

Based on industry type - The market is segmented into Civil Aviation, Military Aircraft, and Spacecraft. Civil aviation was the worst-hit segment due to COVID-19 due to a massive decline in RPKs. However, the segment is expected to be the growth engine of the market during the forecast period , with an expected recovery in the civil aviation industry coupled with increasing demand for lightweight and complex aircraft parts with high-quality and shorter lead times. Furthermore, an expected rise in air passenger traffic is likely to create a higher demand for new aircraft. After the pandemic, airlines will be back on track and again demanding lightweight aircraft to enhance their profitability. Major airframers are increasingly working on the development of advanced technologies including 3D printing to develop lightweight parts at a faster rate.

Based on the vertical type – The aerospace 3D printing market is segmented based on the vertical types as hardware, software, material, and services. The services segment is expected to witness the highest growth in the post-pandemic market developments, owing to the use of a wide range of materials to print engines and structural components. Furthermore, the development of new materials for 3D print components to withstand high temperatures and extreme environments is likely to boost the demand for 3D printing materials in the years to come.

Based on the application type - The aerospace 3D printing market is segmented into engine components, structural components, and space components. The engine components segment experienced a huge decline in the market in 2020 in the wake of the pandemic. However, all three applications are expected to expand with significant CAGRs over the next five years, owing to an expected recovery in aircraft deliveries coupled with growing penetration of lightweight materials and the development of parts with high precision at reduced time. The engine components segment is projected to witness the highest growth during the same period, driven by a high focus on major engine manufacturers including GE, Pratt & Whitney, and Rolls-Royce to develop engine parts for turbofan engines using 3D printing technology.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for aerospace 3D printing till 2027. This growth outlook is majorly attributed to the following–

• The region is the world's manufacturing capital of the aerospace industry with the presence of many large and small-sized OEMs, tier players, and raw material suppliers.
• Major 3D printer manufacturers are also located in the region to cater to the growing regional demand for 3D printers as well as materials.
  

Likewise, the Asia-Pacific is expected to recover at the fastest pace, with impressive growth in the aerospace 3D printing market during the forecast period, primarily driven by an expected early recovery of emerging economies like China and an increasing presence of OEMs and tier players to tap the growing local demand from the key economies, such as China, Japan, and India.

Aerospace 3D Printing Market Drivers:

Some of the key drivers listed in the report are given below.

• Growing global satellite industry.
• Increasing production of LEAP engines.
• Advancements in 3D printing technologies.
• Exceptional benefits of 3D printing technologies across the supply chain of the aerospace industry.

Top 10 Companies in the Aerospace 3D Printing Market:

The market is highly populated with the presence of several local, regional, and global players. The supply chain of this market comprises raw material suppliers, 3D printer manufacturers, tier players, engine and aircraft OEMs, and airlines. Stratview Research has identified the following companies as the top market players (arranged alphabetically).

• 3D Systems Corporation
• EnvisionTEC GmbH
• EOS GmbH
• GE Aviation
• Hoganas AB
• Materialise NV
• Oerlikon Group
• Renishaw plc
• Stratasys Ltd.
• The Trumpf Group

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Related Reports:

• Military 3D Printing Market
• 3D Printing Powder Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

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