Military 3D Printing Market 2019 to 2023 - Global Top Key Players are Cimetrix Solutions, Smg3D, 3T RPD, Artec Europe, Initial and others

Market Scenario:

The concept of 3D printing in the military is gaining significant traction as its impact in military applications is being explored. Market reports connected with the aerospace industry have been made available by Market Research Future which generates reports on other business verticals that outlines the current market scenarios. The market is anticipated to achieve a 28% CAGR in the forecast period.

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The advent of 3D printing in the product development stage for defense companies has increased the market growth pace favorably. Escalating investments by defense companies is expected to translate positively in terms of the growth achieved by the market. As 3D printing offers a considerable reduction in manufacturing cost of parts, the market is anticipated to develop at an accelerated rate in the forecast period.

Segmental Analysis:

The military 3D printing market has been segmented on the basis of technology, offering, process, platform and application. On the basis of offering, the market has been segmented into material, software, printer and service. The application basis of segmenting the market comprises of tooling, prototyping and functional part manufacturing. Based on Platform, the military 3D printing market is segmented into land, airborne, naval and space. On the basis of process, the market is segmented into material extrusion, powder bed fusion, vat photo polymerization, material jetting, binder jetting, direct energy deposition and sheet lamination.

The technology-based segmentation of the market consists of stereo lithography, fuse deposition modeling, selective laser sintering, direct metal laser sintering, polyjet printing, inkjet printing, electron beam melting, laser metal deposition, digital light processing, and laminated object manufacturing.

Detailed Regional Analysis:

The regional analysis of the market segments the market into regions North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. The North American region is anticipated to control the market in the coming years, owing to the growing applicability of 3D printing technology in numerous industries. The Asia Pacific region follows the North American region in the military 3D printing market and is projected to follow the North American region during the forecast period owing to the augmented military spending in nations such as China and India. The military 3D printing market is projected to observe a CAGR of 28% in the duration of the forecast period.

Competitive Analysis:

Better accessibility to diverse resources and capabilities is expected to impel the growth of the market in the coming forecast period. The competitors in the market are attempting to establish various leaderships that will enable them to capture a more significant share of the market. Moreover, the vertical integrations and product strategies of the market is increasing the prospects for the market players. The employment of effective strategy execution techniques is anticipated to bear positively on the future growth of the market. The analysis of the market reveals that it is poised for a high growth rate in the forthcoming years. Product differentiation has created a favorable product differentiation scenario that is complementing the market’s growth.

The significant competitors in the military 3D printing market globally are 3D Systems Corporation (U.S.), The Exone Company (U.S.), Arcam AB (Sweden), EOS GmbH (Germany), Initial (France), Stratasys (U.S.), Norsk Titanium AS (U.S.), American Elements (U.S.), Artec Europe (Luxembourg), Markforged (U.S.), 3T RPD (U.K), Cimetrix Solutions (Canada),Optomec Inc. (Mexico), Smg3D (U.K), and Engineering & Manufacturing Services (U.S.).

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This release was published on openPR.