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Aerospace And Defense Additive Manufacturing Market Report 2023: Market Analysis, Size, Share, Growth And Industry Forecast To 2032
Aerospace And Defense Additive Manufacturing Market Report
The Business Research Company's Aerospace And Defense Additive Manufacturing Global Market Report 2023 identifies growing government spending on the defense sector as the major driver for the aerospace and defense additive manufacturing technologies market's growth in the forecast period. Defense expenditure is the amount spent on weapons, weapons systems, operations, maintenance, personnel, and other specific military equipment. With more spending in the defense sector, additive manufacturing can benefit from increased research and development efforts, leading to advancements in materials, processes, and quality control. This, in turn, can accelerate the adoption of additive manufacturing technologies, leading to improved productivity, enhanced supply chain resilience, and more significant innovation in the aerospace and defense industries.
The global aerospace and defense additive manufacturing market is expected to grow from $2.97 billion in 2022 to $3.62 billion in 2023 at a compound annual growth rate (CAGR) of 21.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global aerospace and defense additive manufacturing is expected to reach $7.45 billion in 2027 at a CAGR of 19.8%.
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Major competitors in the aerospace and defense additive manufacturing technologies market are General Electric Company, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE.
A key trend in the aerospace and defense additive manufacturing technologies market includes product innovations. Major companies operating in the aerospace & defense additive manufacturing market are developing new products to sustain their position in the market. For instance, in May 2021, Aerojet Rocketdyne Inc., a US-based developer of rocket, hypersonic, and electric propellant systems, introduced its upgraded version of its RL10 rocket engine has successfully passed NASA hot-fire testing procedures. The RL10C-X is the next iteration of the RL10 upper-stage engine, and it includes the injector and combustion chamber, created using Aerojet Rocketdyne's additive manufacturing technology. The RL10C-X engine generates roughly 24,000 pounds of thrust and was tested in a flight-like mode to establish the engine's ability to complete a normal mission profile, including several restarts.
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The aerospace and defense additive manufacturing technologies market is segmented -
•By Technology: Direct Metal Laser Sintering (DMLS), Fused Deposition Modeling (FDM), Continuous Liquid Interface Production (CLIP), Stereolithography (SLA), Selective Laser Sintering (SLS), Other Technologies
•By Material: Metal, Plastic, Rubber, Other Materials
•By Platform: Aviation, Defense, Space
•By Application: Engine Component, Space Component, Structural Component, Defense Equipment, Other Application
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the aerospace and defense additive manufacturing technologies market.
The Business Research Company's "Global Aerospace And Defense Additive Manufacturing Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Aerospace And Defense Additive Manufacturing Market Include:
1. Executive Summary
2. Aerospace And Defense Additive Manufacturing Market Characteristics
3. Aerospace And Defense Additive Manufacturing Market Trends And Strategies
4. Aerospace And Defense Additive Manufacturing Market - Macro Economic Scenario
5. Global Aerospace And Defense Additive Manufacturing Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Aerospace And Defense Additive Manufacturing Market Competitive Benchmarking
33. Global Aerospace And Defense Additive Manufacturing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aerospace And Defense Additive Manufacturing Market
35. Aerospace And Defense Additive Manufacturing Market Future Outlook and Potential Analysis
36. Appendix
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