Aerospace 3D Printing Market will reach at $13.23 billion by 2032Thriving Worldwide-Stratasys, 3D Systems, Arcam Group, Renishaw, ExOne, Optomec, SLM Solutions, EnvisionTEC, VoxelJet AG, Sciaky Inc, EOS e-Manufacturing Solutions, GE

The global aerospace 3D printing market will witness a robust CAGR of 22.23%, valued at $1.99 billion in 2021, expected to appreciate and reach $13.23 billion by 2032, confirms MRA.
The report investigates the current status of the Aerospace 3D Printing Market and analyses the future trends of the Aerospace 3D Printing market. The report explores the market opportunities available in the Aerospace 3D Printing market. The report assesses the Aerospace 3D Printing market sourced from the currently available data. The report provides in-depth information of the Aerospace 3D Printing market that helps market players understand and analyse the Aerospace 3D Printing industry in terms of key products and services, value-added products, emerging markets, and industries. The report provides basic analysis of the Aerospace 3D Printing market. The report determines the current production and future demand for the products and services, and assists the market players in planning for investment. The report analyses the major exporting and importing producers, overview of the industry, preliminary and secondary assessment of its future potential. The report summarizes the knowledge gaps and recommendations.

Key Players in the Aerospace 3D Printing market:

Stratasys, 3D Systems, Arcam Group, Renishaw, ExOne, Optomec, SLM Solutions, EnvisionTEC, VoxelJet AG, Sciaky Inc, EOS e-Manufacturing Solutions, GE

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The report studies the Aerospace 3D Printing market using cross-sectional multiple regression analysis. The report provides estimates for future market demand. The report also uses secondary analysis to examines the Aerospace 3D Printing market. The report provides detailed analysis Aerospace 3D Printing market value chain. The report analyses the factors affecting the Aerospace 3D Printing market. The report lists the data and trends that studies various components of the Aerospace 3D Printing market. The report reviews the current Aerospace 3D Printing market production and price patterns. The report reviews the production, imports, and profitability segments.

Aerospace 3D Printing Market Types:

Plastics Material, Ceramics Material, Metals Material.

Aerospace 3D Printing Market Applications:

Civil Aviation, Military Aviation, Spacecraft

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Market Drivers - Decrease in the Production Rate of Aircraft Components, and the Rising Prevalence in the Usage of Lightweight Components

The overall demand for Aerospace 3D Printing is primarily driven by the lower rate of production of aircraft components in the aerospace industry, the continuously rising demand for lightweight components in order to reduce the overall component production time in a cost-effective manner, and the rising prevalence of 3d printing in the aerospace industry. In 2020, out of the 2,408 aircraft delivered across the globe, 1,321 (i.e.,55%) were piston-powered, 644 (i.e.,27%) were jets, and 443 (i.e.,18%) were turboprops. In 2019, out of the 2,658 aircraft delivered worldwide, 1,324 (i.e.,50%) were piston-powered, 809 (i.e.,30%) were jets, and 525 (i.e.,20%) were turboprops. Up to December 31st, 2019, more than 4,900 aircraft had CFM International-built engines. On the other hand, there were almost 2,854 General Electric Aviation-built engines installed on Boeing aircraft during that same period of time.



Apart from the growth in demand for lightweight components, the requirement for rapid 3D prototyping is estimated to augment the overall aerospace 3D printing market growth throughout the estimated period of time. More than 50% of the worldwide engineering businesses revealed that they had increased their usage of 3D prototype printing to produce the functional end-use parts during 2020, whereas 30% of businesses reported that their usage of 3D prototype printing for the end-use parts remained the same in 2020 as compared to 2019.

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Opportunities: Development of advanced 3D printing technologies requiring less production time
The traditional processes employed for the manufacturing of aerospace components take more time as compared to 3D printing. The development of new 3D printing technologies allows quicker production of parts and components, which may otherwise take months or years to be manufactured, thereby reducing their production time. CLIP (Continuous Liquid Interface Production) is one of the recent 3D printing technologies used for manufacturing parts and objects through continuous production. It eliminates layer by layer processes, unlike other 3D printing technologies, such as SLA and SLS. Another technology is DMLS, which uses powdered metals instead of powdered thermoplastics for creating metal components. These technologies can develop products at a rate hundred times faster than other 3D printing technologies.

Challenges: High volume production of aerospace components is slower as compared to traditional manufacturing
In traditional manufacturing of aerospace components, an increase in production volume results in reduced manufacturing costs, while the speed at which the production is carried out remains intact. However, in 3D printing technology, the manufacturing costs increase along with an increase in the production scale, thus making the technology more suitable for low production volume. The costs involved in running and procuring 3D printing machines and the cost of raw materials used in 3D printing are higher compared to those in the case of conventional manufacturing. This factor poses a challenge to the growth of the aerospace 3D printing market, although it can be overcome by reducing the costs of raw materials used for 3D printing.

The Material Extrusion or Fusion Deposition Modeling (FDM) segment is projected to witness the highest CAGR during the forecast period.
Based on technology, the Material Extrusion or Fusion Deposition Modeling (FDM) segment is expected to dominate the aerospace 3D printing market The extrusion process is fast and efficient at producing large volumes of continuous shapes in varying lengths with minimum wastage. The ability to manufacture complex shapes with varying thickness, textures, and colors is a major advantage of this process.

The Aircraft Segment is projected to witness the highest CAGR during the forecast period.
Based on platform, The aircraft segment is projected to dominate the aerospace 3D printing market, by platform, during the forecast period. The maximum number of developments would occur on an aircraft. The need for lightweight, cost-efficient aircraft and the need for fast manufacturing of complex parts would drive the adoption of 3D printers in aircraft manufacturing.

The engine component segment is projected to witness the highest market share during the forecast period
Based on the end products, the engine components segment is witnessing the highest market share for the aerospace 3D printing market during the forecast period. Ease of designing, improved strength, lightweight, and durability of the components manufactured, as well as their cost-effectiveness, contribute to the growth of end products

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