Aerospace Additive Manufacturing Market Projected to Grow at a 20.24% CAGR to USD 36.25 Billion by 2032: Building the Future of Flight.

Market Insights-

The market size for aerospace additive manufacturing was estimated at USD 6.9 billion in 2022. According to projections, the Aerospace Additive Manufacturing market industry will expand from USD 8.29 billion in 2023 to USD 36.25 billion by 2032, with a compound annual growth rate (CAGR) of 20.24% over the forecast period (2023-2032). The two main factors accelerating market expansion are the defence industry's increased usage of additive manufacturing and an increase in air traveller numbers.

Aircraft load reduction reduces fuel consumption, environmental impact, and cost per mile flown. When producing parts, components, and frames for aeroplanes using 3D printing, neither structural integrity nor aerodynamic effectiveness are compromised. Thanks to the producers' hundreds of guides, fittings, templates, and gauges that were 3D printed, the lead time and cost for each aircraft were reduced by 70-90% when compared to previous production methods. Due to the rising demand for affordable and lightweight parts, the aerospace and defence additive manufacturing sector is anticipated to grow over the coming years.

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Additionally, aerospace AM is frequently used to produce inexpensive grips, jigs, and fittings. Similarly, the widespread use of AM makes it possible to fabricate components using premium materials in short production runs with quick turnaround times, all of which promote industry growth. Aerospace additive manufacturing can be used to create intricate and specialised parts like as engines, brackets, ducting, and seat belt buckles.

Additionally, the growing market for additive manufacturing (AM) in the aerospace industry is receiving a boost from the integration of artificial intelligence (AI) with AM to monitor and adjust the 3D printing process and quickly detect geometrical distortions because it offers a level of precision and aids in the achievement of more intricate designs, which is favourably affecting market growth. Growth in the business was further hampered by the temporary closure of gyms, wellness centres, hospitals, and sports academies.

Regional Analysis-

Plastic, rubber, metal alloys, and other materials are included in the market segmentation for aerospace additive manufacturing based on material. Metal alloys, which now have the biggest market share, are anticipated to increase at the fastest rate over the coming several years, with a CAGR of 20.24%. The analysis offers market insights for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. Due to rising expenditures in the aviation and defence sectors, the aerospace additive manufacturing industry in North America will dominate this market.

Market Segmentation-

Based on application, the aerospace additive manufacturing market is divided into structural, engine, and others. Engines held the top spot in the aerospace additive manufacturing industry in 2022.

Spacecraft, aeroplanes, and unmanned aerial vehicles are among the platforms included in the aerospace additive manufacturing market segmentation. The category of spacecraft produced the most revenue.

Based on technology, the aerospace additive manufacturing market is segmented into laser sintering, stereo lithography, fused deposition modelling, electron beam melting, and 3D printing. Over the anticipated period, the fused deposition modelling category is anticipated to grow at a CAGR of 20.24%.

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Key Companies in the Aerospace Additive Manufacturing market include -

Arcam AB (Sweden)
3d Systems Inc. (U.S.)
CRP Technology SRL (Italy)
Concept laser GMBH I (Germany)
Eos (Germany)
CRS Holdings Inc. (U.S.)
Optomec (U.S.)
Stratasys Ltd (U.S.)
Exone (U.S.)
SLM solution group AG (Germany)

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Aerospace Additive Manufacturing Industry Developments -

For Instance, March 2023 To increase the scope of its Selective Laser Sintering (SLS) product line, 3D Systems has announced that it has signed an agreement to purchase Wematter, a Swedish 3D printer maker.

For Instance, May 2023 A major obstacle to the AM manufacturing process will be eliminated thanks to the announcement from Topology and EOS that they will proceed with building a new Implicit Interop feature.

For Instance, February 2023 ICE and the corporation recently established a partnership to leverage the company's global supply chain and corporate location data for the purpose of expanding ICE's international climate risk product.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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