North America additive manufacturing in aerospace & defense market forecast 2023-2032

According to a new market research report launched by Inkwood Research, the North America Additive Manufacturing in Aerospace & Defense Market is poised to witness an impressive Compound Annual Growth Rate (CAGR) of 19.89% in revenue during the forecast period from 2023 to 2032.

This market holds significant importance within the United States and Canada, featuring key industry players such as Aerojet Rocketdyne, Airbus SE, GE Aviation, Honeywell International Inc, Lockheed Martin Corporation, Moog Inc, Raytheon Technologies, Safran SA, Thales Group, and The Boeing Company.

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Additive manufacturing, also known as 3D printing, plays a pivotal role in the aerospace and defense sectors, offering innovations in design flexibility, rapid prototyping, and the production of complex parts with improved efficiency. The market's size reflects the growing integration of additive manufacturing technologies in these industries.

Major aerospace and defense companies such as Airbus SE, Lockheed Martin Corporation, and The Boeing Company lead the way in utilizing additive manufacturing for producing aircraft components, enabling lighter and more durable parts that enhance performance and fuel efficiency.

On the other hand, the United States has become the dominant country in the North American additive manufacturing market for aerospace and defense thanks to the infrastructure investments made by industry players and the support provided by local authorities for technological advancements. In keeping with this, Terran Orbital, a maker of nano and microsatellites, stated in September 2021 that it will invest $300 million in one of the biggest facilities for commercial spacecraft in Florida.

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Companies like GE Aviation, Honeywell International Inc, and Raytheon Technologies focus on additive manufacturing applications for critical components in jet engines, avionics, and defense systems, contributing to enhanced functionality and reliability.

Safran SA and Thales Group specialize in adopting additive manufacturing for intricate parts and components, reducing lead times and production costs while enabling innovative designs in aerospace and defense equipment.

The North America Additive Manufacturing in Aerospace & Defense Market's projected CAGR of 19.89% signifies robust growth, underlining the increasing adoption of additive manufacturing technologies and the continuous drive for innovation within these industries.

In summary, the North America Additive Manufacturing in Aerospace & Defense Market is experiencing a paradigm shift with advanced technologies. With major industry players pioneering additive manufacturing applications, the market is set to continue its rapid growth, transforming manufacturing processes and elevating capabilities in the aerospace and defense sectors across the region.

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This release was published on openPR.