Global Aerospace Additive Manufacturing Market is valued at approximately USD 3.86 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 18.56% over the forecast period 2023-2030. Aerospace Additive Manufacturing, also known as 3D printing, is a cutting-edge technology that revolutionizes the production of aerospace components and structures. It involves the layer-by-layer deposition of materials, typically metals or advanced composites, to create intricate and customized parts with high precision and complexity. This innovative manufacturing process offers numerous advantages, including reduced weight, enhanced performance, improved fuel efficiency, shortened production time, and cost savings. Aerospace additive manufacturing enables the production of complex geometries that are difficult or impossible to achieve through traditional manufacturing methods, allowing for optimized designs and increased functionality. Moreover, the increasing prevalence of advanced technology and the growing 3D printing products and services market are anticipated to be the growth drivers of the market. Furthermore, rising air passenger traffic and increasing expenditure in the aerospace and defense industry fuel the market space.
According to (UNCTAD) in 2023, the market size of frontier technology is anticipated to witness significant growth by 2030, reaching an estimated market size of USD 9,469 billion. Frontier technologies, including the Internet of Things (IoT), Artificial Intelligence (AI), and others, play a crucial role in expanding the global frontier technology market. Specifically, IoT and AI contribute USD 4,422 billion and USD 1,582 billion, respectively, accounting for 47% and 17% of the total market. This substantial contribution enhances the overall growth of innovative and advanced technologies. According to Statista in 2022, the global market for 3D printing products and services reached a value of approximately USD 12.6 billion in 2020 and is projected to experience a compound annual growth rate of around 17 percent from 2020 to 2023. Aerospace companies have embraced additive manufacturing as early adopters in their industry. The aerospace companies are making investments in additive technology to realize benefits such as weight reduction, structural optimization, space utilization, and decreased part count and joining. However, high initial investment and limited production & scalability may hamper the growth of the market.
The key regions considered for the Global Aerospace Additive Manufacturing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market for aerospace additive manufacturing because of several factors that contributed to the growth of the market in this region, including notable technological advancements, a well-established aerospace industry, and a rising demand for customized and intricate design components. Asia Pacific region is experiencing the fastest growth in the aerospace additive manufacturing market. The market in this region is driven by factors such as rapid economic growth, a strong aerospace industry, increasing demand for aerospace components, and collaborations fostering innovation and development in additive manufacturing.
Major market player included in this report are:
3D Systems Inc.
CRP Technology S.r.l.
Arcam AB
Concept laser GmbH
Eos GmbH
CRS Holdings Inc.
Optomec Inc.
Stratasys Ltd
The ExOne Company
SLM solution group AG
Recent Developments in the Market:
In May 2023, 3D Systems has recently revealed its plans to expand its Selective Laser Sintering (SLS) product line by acquiring Wematter, a Swedish 3D printer manufacturer. This strategic move indicates the company's commitment to enhancing its presence in the aerospace additive manufacturing market.
In February 2023, ICE and the company have recently announced a partnership aimed at leveraging the company's global supply chain and corporate location data. This collaboration is specifically intended to enhance ICE's international climate risk offering, particularly in the aerospace additive manufacturing market. By utilizing the valuable data provided by the company, ICE aims to expand its capabilities and provide comprehensive climate risk assessments to clients operating in this sector.
Global Aerospace Additive Manufacturing Market Report Scope:
Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Platform, Material, Technology, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Platform:
Aircraft
Unmanned Aerial Vehicle
Spacecraft
By Material:
Metal Alloy
Plastic
Rubber
Others
By Technology:
3D Printing
Laser Sintering
Stereolithography
Fused Deposition Modelling
Electron Beam Melting
By Application:
Engine
Structural
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
