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Defense Sector Expansion Fuels Surge In Aerospace And Defense Additive Manufacturing: Key Factor Driving The Growth In The Aerospace and Defense Additive Manufacturing Market
Aerospace and Defense Additive Manufacturing
What Is the Expected Aerospace and Defense Additive Manufacturing Market Size During the Forecast Period?
The Aerospace and Defense Additive Manufacturing Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Aerospace and Defense Additive Manufacturing Market Size During the Forecast Period?
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What Are the High-Growth Segments in the Aerospace and Defense Additive Manufacturing Market?
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
Subsegments:
1) By Direct Metal Laser Sintering (DMLS): Titanium Alloys, Aluminum Alloys, Stainless Steel
2) By Fused Deposition Modeling (FDM): Thermoplastic Materials, Composite Filaments
3) By Continuous Liquid Interface Production (CLIP): Resin-Based Materials, Elastomers
4) By Stereolithography (SLA): Standard Resins, Engineering Resins, Bio-Compatible Resins
5) By Selective Laser Sintering (SLS): Nylon Powder, Metal Powders, Composite Powders
6) By Other Technologies: Electron Beam Melting (EBM), Laminated Object Manufacturing (LOM), Binder Jetting
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What Key Drivers Are Expected to Influence Future Aerospace and Defense Additive Manufacturing Market Growth?
Escalating government expenditure in the field of defense is predicted to boost the progress of the aerospace and defense additive manufacturing market. Defense spending pertains to the amount allocated towards weaponry, systems of weapons, operations, upkeep, personnel, and other exclusive military equipment. An increase in the defense expenditure can inspire burgeoning research and development activities in additive manufacturing, paving the way for progress in materials, processes, and quality control. Such advancements may quicken the adoption rate of additive manufacturing technologies, contributing to better productivity, elevated supply chain robustness, and broader innovation within aerospace and defense sectors. For example, in March 2023 as per the United States Air Force (USAF), a US-based department of the United States Department of the Air Force, the budget requested for Air Force's fiscal year (FY) 2024 was approximately $215.1 billion, which is an increment of $9.3 billion or 4.5% from the approved figure of FY 2023. Thus, the escalating government expenditure in the defense segment propels the growth of the aerospace and defense additive manufacturing market.
Which Companies Hold the Largest Share Across Different Aerospace and Defense Additive Manufacturing Market Segments?
Major companies operating in the aerospace and defense additive manufacturing market include 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.
What Trends Are Driving Growth in The Aerospace and Defense Additive Manufacturing Market?
Advancements in technology are becoming an increasingly popular trend within the aerospace and defense additive manufacturing industry. Leading enterprises in the aerobridge market are concentrating on creating innovative product solutions to consolidate their standing. For instance, in June 2023, Aerojet Rocketdyne Holdings Inc., a company specializing in aerospace and defense products, alongside The National Aeronautics and Space Administration (NASA), a government agency in the US, confirmed the successful conclusion of a certification test series for the new RS-25 production engines. These will be used to drive NASA's Space Launch System (SLS) for the Artemis missions in the future, including Artemis V. This certification process, which included 12 hot-fire tests, validated the engines' dependability and efficiency, guaranteeing that they are up to the standards required for future space exploration endeavors. The newly manufactured engines are anticipated to be delivered to NASA in 2024, making their first appearance on the Artemis V mission.
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What Are the Emerging Geographies for The Aerospace and Defense Additive Manufacturing Market Growth?
North America was the largest region in the aerospace and defense additive manufacturing market in 2024. The regions covered in the aerospace and defense additive manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Aerospace and Defense Additive Manufacturing Market?
2. What is the CAGR expected in the Aerospace and Defense Additive Manufacturing Market?
3. What Are the Key Innovations Transforming the Aerospace and Defense Additive Manufacturing Industry?
4. Which Region Is Leading the Aerospace and Defense Additive Manufacturing Market?
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