Aerospace 3D Printing Market will reach USD 734.6 Million in 2018 to USD 3,122.7 Million by 2022, Key Players - Arcam, Arconic, EOS, ExOne, GKN, Hoganas, The Exone Company, Aerojet Rocketdyne, MTU Aero Engines AG, 3D Systems Corporation, and EOS

Aerospace 3D printing Market Overview:

3D printing is a new technology that has come up with the potential to transform the way enterprises build new products, including parts for defense and aerospace. This new manufacturing process is known as 3D printing or additive manufacturing. This technology involves manufacturing physical objects by printing one layer at a time, using special material deposition devices and digital models. This generation’s 3D printing equipment has evolved in a short span of time and is capable of producing complex components among different types of materials which includes titanium, steel, aluminum, and different variety of plastics. Thus because of its potential, 3D printing is gaining importance in various manufacturing and fabricating sectors.

The 3D printing technology in the aerospace sector, generally in plastic, has developed into a mainstream prototype fabrication practice of aerospace parts. Although printing a prototype component may consume several hours, it is still considerably faster than manufacturing tools that are then used to manufacture prototype parts. This capability to swiftly manufacture prototypes allows engineers to help in design concepts much faster, speeding up the overall improvement process. The aerospace 3D printing market is estimated to grow from USD 734.6 Million in 2018 to USD 3,122.7 Million by 2022, at a CAGR of 24.54% during the forecast period.

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Aerospace 3D printing Market - Drivers and Restraints:

The major factors driving the aerospace 3D printing market are efficient use of raw materials, accuracy, customizable product creation and reduction of errors while manufacturing of parts. The above-mentioned factors are going to push the 3D printing market towards its growth during the forecasted period. 3D Printing technology unveiled next-generation additive metal platform for high-productivity, which may affect the increase in market
The aerospace 3D printing market is witnessing growth in this segment due to the application of contract manufacturing service for 3D-printed parts and components in commercial aircraft and the annual sales volume of printing machines. The aerospace industry has incorporated 3D printing throughout all processes and functions from the design concept to near end of life repairs as it simplifies the manufacture of complex components with complicate designs. The application of 3D printing in aerospace industry is driven by the growing demand for lightweight aircraft components and complementing demand for airplanes from different airlines.

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Aerospace 3D printing Market - Geographical Segmentation:

North America is the largest market for 3D printing and is expected to increase its global market share, during the forecast period. Europe have traditionally led the aerospace 3D printing materials market in terms of demand and revenue due to the high R&D and presence of leading aircraft manufacturers, as well as system manufacturers. North America is set to be the most attractive region over the forecast period and lead regional markets in 2024. However, the cost-sensitive nature of the market restrains its potential in the present market condition.

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Key players in the Aerospace 3D printing Market:

Key companies of this market are Arcam, Arconic, EOS, ExOne, GKN, Hoganas, The Exone Company, Aerojet Rocketdyne, MTU Aero Engines AG, 3D Systems Corporation, and EOS.

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