Military 3D Printing Market is Forecasted to Reach US$ 1.7 billion in 2027, Says Stratview Research

The global military 3D printing market is projected to witness a growth rate of 14.8% annually from 2022 to 2027, with an anticipated size of US$ 1.7 billion by 2027, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global military 3D printing market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2027: US$ 1.7 billion
Growth (CAGR): 14.8% during 2022-2027
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Military 3D Printing Market:
The global military 3D printing market is segmented based on platform type, offering type, application type, process type, and region.

Based on platform type - The market is segmented into airborne, naval, and land. Airborne platform is the largest and the fastest-growing platform type in the market during the forecast period. With large and wide-scale utilization of 3D printing for military aircraft and drones. Increasing demand for 3D printing for replacement parts to support aircraft sustainability management. 3D printing is highly utilized for the MRO activity of military aircraft, especially in the production of spare parts for old aircraft which are unable to be obtained from their respective suppliers. Moreover, with the production of new aircraft, the use of 3D printing would grow more in the production of custom and complex parts.

Based on the offering type - The market is segmented into printer, material, software, and service. Printer is expected to remain the dominant offering type in the market during the forecast period, owing to the increasing preference of the military for 3D-printed parts coupled with the increasing trend of portable 3D printers, which can be utilized anywhere at any point in time.

Based on the application type - The market is segmented into prototyping, parts manufacturing, and tooling. Prototyping will remain the largest application type in the market during the forecast period. Increasing R&Ds associated with applications of 3D printing in military products. A large number of prototypes are made by military personnel to test the suitability of 3D-printed parts for military environments. However, the shift towards actual parts production for real operations will drive the growth of parts manufacturing applications over the next five years.

Based on the process type - The market is segmented into material extrusion, powder bed fusion, vat photopolymerization, binder jetting, directed energy deposition, and others. Material Extrusion will remain the most preferred process type in the market during the forecast period, owing to the ease of operation and cost efficiency offered by the process. This process is highly preferred by the military to produce polymer prototypes.

To know the most attractive segments, visit:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America will remain the largest market, while Asia-Pacific is expected to grow the fastest during the forecast period. This growth outlook is majorly attributed to the following-
- 3D printing is highly utilized by the US military in their home and overseas military bases.
- The USA is the global leader in terms of market size as well as growth in military 3D printing, propelled by favorable government policies with the sole aim of expanding the utilization of 3D printing.
- For instance, recently in January 2021, The US Department of Defense unveiled its additive manufacturing strategy to achieve widescale adoption of 3D printing by integrating 3D printing in its department and defense industrial bases and promotion of training and research and its agile and secure usage in defense.
- The highest defense expenditure of the country paired with the heavy funding for defense R&Ds will support the growth of the market in the region over the coming years.
- This region has a large number of markets/countries with reasonably high defense expenditures, which are ready to grab the opportunities offered by this technology.
- Moreover, there is a large number of research in various countries, further boosting the pace of adoption of 3D printing in the region.

Military 3D Printing Market Drivers:

Some of the key drivers listed in the report are given below.
- Increasing defense budgets, rising demand for customized and lightweight components, and the need for rapid prototyping and on-site manufacturing.
- Enhanced battlefield efficiency, reduced logistics costs, and advancements in additive manufacturing technologies further fuel growth.
- Additionally, strategic collaborations between defense organizations and technology firms to develop innovative 3D-printed solutions bolster market expansion, ensuring faster production cycles and improved operational capabilities.

Top Companies in the Military 3D Printing Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• 3D Systems Corporation
• Desktop Metal Inc.
• GE Aviation (GE Additive)
• Markforged Inc.
• OC Oerlikon Management AG
• Optomec, Inc.
• Proadways Group
• Stratasys Ltd.
• The Exone Company (Now a part of Desktop Metal Inc.)
• Wipro Infrastructure Engineering (Wipro 3D)

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Military 3D Printing Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.