Aerospace 3D Printing Market estimated to grow at a CAGR of 22.3% in the forecast period (2018-2023)

The report on the Aerospace 3D Printing Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2018-2023. The report also offer insights into different market segments and other factors affecting the market.

Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Aerospace 3D Printing Market is expected to inflate at a CAGR of 22.3% by the forecast period (2018 – 2023).

As per the report, the market is segmented by:
● by vertical Type (material and printer) – Materials segment to witness a higher growth.
● by Industry Type (aircraft, UAV, and Spacecraft) – Aircraft segment remains to be the growth engine of the market.
● by Application Type (Engine Component, Structural Component,and Others)
● by Printer Technology Type (Stereolithography, Direct Metal Laser Sintering, and Others)
● and by Region (North America, Europe, Asia-Pacific, and RoW) – North America to remain the largest market.

Table Of Contents: https://www.stratviewresearch.com/toc/346/Aerospace-3D-Printing-Market.html

Highlights of the Report:
The global aerospace 3D printing market is segmented based on the vertical type as Materials and Printers. The materials segment is expected to witness a higher growth in the aerospace 3D printing market during the forecast period, owing to the usage of a wide range of materials to print engine and structural components. Furthermore, development of new materials to 3D print components to withstand high temperature and extreme environment is also likely to boost the growth of material segment in the years to come. Major aircraft manufacturers, such as Boeing and Airbus, are expediting the adoption of this technology to achieve faster production process, reduce wastage, and shorten supply chain.

Based on the industry type, the aerospace 3D printing market is segmented into Aircraft, UAV, and Spacecraft. Aircraft segment is expected to be the growth engine of the 3D printing market during the forecast period. GE Aviation is one the major companie which has already started producing engine components in mass volumes using the 3D printing technology. Rolls-Royce is another engine manufacturer that has started making 3D-printed parts for its engines including Trent. Other major engine OEMs are also on the same path and have been working hard for the development of 3D-printed parts. Furthermore, increasing passenger traffic is creating a higher demand for new aircraft. Airlines are demanding lightweight aircraft in order to enhance their profitability. Major airframers are increasingly working for the development of advanced technologies including 3D printing to develop lightweight parts at a faster rate.

Based on the application type, the market is segmented into Engine Components, Structural Components and Space Components. All three applications in the aerospace 3D printing market are expected to expand with significant CAGR over the next five years, owing to increasing aircraft deliveries coupled with growing penetration of lightweight materials and development of parts with high precision at reduced time. However, engine components segment is likely to witness the highest growth during the same period, driven by high focus of major engine manufacturers including GE and Rolls-Royce to develop engine parts of turbofan engines.

Based on regions, North America is expected to remain the largest market for aerospace 3D printing during the forecast period. The region is the world’s manufacturing capital of the aerospace industry with the presence of many large-to small-sized OEMs, tier players, 3D printers, 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. Asia-Pacific is estimated to be the fastest-growing aerospace 3D printing market in the same period, primarily driven by increasing presence of OEMs and tier players to tap the growing demand from emerging economies such as China and India.

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Key Players of the Market
The key players in the aerospace 3D printing market are MTU Aero Engines AG, Stratasys Ltd., Ultimaker B.V., 3D Systems Corporation. New product development, regional expansion, and long-term relation with customers are some of the key strategies adopted by the major players to gain a competitive edge in the market.

Features of the Report
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth
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This release was published on openPR.