Aerospace Additive Manufacturing Market Report by Technology (3D Printing, Laser Sintering), Vertical, Industry, Material and end Users Application by Forecast to 2023

Market Highlights:

Global aerospace additive manufacturing is the processes refer to joining of materials to form a three-dimensional object. There is a huge demand for global aerospace additive manufacturing equipment’s that decreases the production time and shortens supply chains of the aircraft manufacturing. However, there are some shortcomings in global aerospace additive manufacturing market, such as issues related to its commercialization, expensive AM materials, and slow adoption of this technology against convention manufacturing process.
The global aerospace additive manufacturing system prevails in the manufacturing of aerospace components. Moreover, the aerospace industries are early adopter and trendsetter in manufacturing, which has led to the development of additive manufacturing systems. The rise in popularity of shorter development time, time to market, to design complex geometries, high material efficiency is estimated to drive the market in the forecast period.

The factors that are responsible for the growth of global aerospace additive manufacturing market are weight reduction, low fuel consumption, ease of manufacturing for complex parts, on-demand manufacturing and freedom in design. Other key drivers are expected to contribute in the growth of global aerospace additive manufacturing market are growth in growing fleet size of various airlines.

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Key Players

The key players in global aerospace additive manufacturing market are 3D Systems (U.S.), Arcam AB (Sweden), EOS (Germany), ExOne (U.S.), Stratasys (U.S.), ATI (U.S.), and Carpenter Technology (U.S.). Concept laser (U.S.), CRP Technology (Italy), Optomec (U.S.), Proto Labs (U.S.), Renishaw Plc. (U.K.), SLM Solutions (Germany), and Voxeljet (Germany) are among others.

Market Segmentation
The global aerospace additive manufacturing market is segmented based on technology, vertical, industry, materials application, and regions. On the basis of technology, the 3D printing is widely used and covers the majority of global aerospace additive manufacturing market due to increasing adoption rate in developing countries. On the basis of the vertical type, the materials segment is estimated to grow at highest CAGR during the forecast period. On the basis of the industries, the aircraft segment is estimated to grow at highest CAGR during the forecast period.

Regional Analysis
The market is segmented based on North America, Asia Pacific, Europe, Middle East & Africa and South America. North America region is expected to dominate the market in future due to the largest market of 3D aerospace printing. Asia Pacific market is second to the North America market in global aerospace additive manufacturing market due to increase investment in the latest manufacturing technology. The growth of the North America 3D printing market is often attributed to the high adoption rate of 3D printing technology within the region. The growing demand of 3D printing technology leads to the increase the demand of light-weight elements and components. Thus, the global aerospace additive manufacturing market is expected to grow at approximately 20% CAGR during the period 2017 to 2023.

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This release was published on openPR.