Military 3D Printing Market : Tooling, jigs and fixtures, Prototyping, End-use parts 2021-2031

According to a new report published by Allied Market Research, titled, "Military 3D Printing Market," The military 3D printing market was valued at $0.88 billion in 2021, and is estimated to reach $7.5 billion by 2031, growing at a CAGR of 24.8% from 2022 to 2031.

North America is expected to dominate the global military 3D printing market in 2021. North America is a dominant market for military 3D printing and has major players offering additive manufacturing solutions. The region occupied a major market share of the global military 3D printing market, due to the presence of major companies such as 3D systems, Inc., Stratasys, Ltd., and others. The industry leaders have witnessed potential of 3D printing and have already started investing in the technology. Industry collaborations, long-term agreements, and partnership are among the common business strategies practiced by players operating within the region.

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COVID-19 Impact Analysis

The COVID-19 crisis is creating uncertainty in the market. Governments of different regions have already announced total lockdown and temporarily shutdown of industries, thereby adversely affecting the overall production and sales. Majority of the developing facilities & research centres has been shut down during the pandemic due to commute restrictions, workforce unavailability, and supply chain disturbance. Private and commercial security industries were one of the most severely affected industries by the pandemic and observed a decline of investments initially. In addition, revenue crunch and rising maintenance costs were two major challenges adversely affecting the manufacturers. Furthermore, the reduced GDP of major economies such as the U.S., the UK, China, France, India, Germany, and others, in 2020 resulted to a decline in investment in the defence industry, thereby affecting the 3D printing market.

Defense budget cuts from several countries such as the U.S., India, France and Israel have been observed. For instance, in 2021, the U.S. defense budget was reduced from $712 billion in 2020 to $705 billion in 2021.

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Military 3D printing production is expected to be more agile after the end of COVID-19. Although industry participant's experienced short-term disruption in delivery systems and roll-outs, such disruption has created new opportunities for 3D printing technology with in defence sector and has boosted usage of technology across different commercial sectors. For instance, in 2022, the U.S. Navy released a plan to pair suppliers who cannot meet growing demand for submarine parts with 3D & 4D printing companies that can print the metal parts around the clock to boost supply. Hence, a rise in the usage of addictive manufacturing technology (3D printing) across different the defence applications is expected to bolster the demand for military 3D printing market during the forecast period.

KEY FINDINGS OF THE STUDY

By component, the technology segment is anticipated to exhibit significant growth in the near future.
By application, the end-use parts segment is anticipated to exhibit significant growth in the near future.
By end-use, the airforce segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global military 3D printing market include 3D Systems, Inc., Autodesk Inc., Dassault Systems, ExOne, Fracktal Works Private Limited, General Electric, Markforged, Materialise, Optomed, Inc., Proto Labs, Stratasys, and Ultimaker BV.

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