Aerospace and Defense Additive Manufacturing Market Worth $8.76 Bn by 2028 with a CAGR of 18.8% over Forecast Period 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Aerospace and Defense Additive Manufacturing Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The aerospace and defense additive manufacturing market size has grown exponentially in recent years. It will grow from $3.62 billion in 2023 to $4.4 billion in 2024 at a compound annual growth rate (CAGR) of 21.5%. The growth in the historic period can be attributed to cost reduction, lightweight components, customization and complexity, supply chain optimization, material advancements.

The aerospace and defense additive manufacturing market size is expected to see rapid growth in the next few years. It will grow to $8.76 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to increased adoption of am technology, advancements in material science, complex part production, industry 4.0 integration, digital twin implementation. Major trends in the forecast period include scaled production of critical parts, am materials development, automation and robotics in am, post-processing advancements, 3d printing electronics integration.

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Market Segmentation:
The aerospace and defense additive manufacturing market covered in this report is segmented -
1) By Technology: Direct Metal Laser Sintering (DMLS), Fused Deposition Modeling (FDM), Continuous Liquid Interface Production (CLIP), Stereolithography (SLA), Selective Laser Sintering (SLS), Other Technologies
2) By Material: Metal, Plastic, Rubber, Other Materials
3) By Platform: Aviation, Defense, Space
4) By Application: Engine Component, Space Component, Structural Component, Defense Equipment, Other Application

Major Driver - Defense Sector Expansion Fuels Surge In Aerospace And Defense Additive Manufacturing
The growing government spending on the defense sector is expected to propel the growth of the aerospace and defense additive manufacturing market going forward. 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. For instance, in March 2023, according to the United States Air Force (USAF), a US-based agency for the United States Department of the Air Force, the Air Force's fiscal year (FY) 2024 budget request was roughly $215.1 billion, a $9.3 billion or 4.5% increase over the FY 2023 approved figure. Therefore, growing government spending on the defense sector drives the aerospace and defense additive manufacturing market.

Competitive Landscape:
Major companies operating in the aerospace and defense additive manufacturing market report are General Electric Company, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE, Northrop Grumman Corporation, BAE Systems, Safran SA, Rolls-Royce Holdings, Honeywell Aerospace, Siemens Digital Industries Software, OC Oerlikon Corporation AG, Moog Inc., Aerojet Rocketdyne Holdings Inc., Carpenter Technology Corporation, Renishaw plc, GKN Aerospace, Stratasys Ltd., EOS GmbH, 3D Systems Corporation, Proto Labs Inc., Materialise NV, Desktop Metal Inc., SLM Solutions Group AG, Optomec Inc., Sintavia, Additive Industries, Optisys LLC, CRP Technology SRL, BeAM Machines Inc.

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Top Trend - Advancements In Aerospace And Defense Additive Manufacturing
Product innovations are a key trend gaining popularity in the aerospace and defense additive manufacturing market. 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.

The Table Of Content For The Market Report 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. Aerospace and Defense Additive Manufacturing Market Size And Growth
…..
27. Aerospace and Defense Additive Manufacturing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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