Rapid prototyping in the aerospace sector and the increase in the utilization of light weight components is driving the Global Aerospace 3D Printing Market.
According to TechSci Research report, “Aerospace 3D Printing Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2030”. Global Aerospace 3D Printing market is growing because traditional materials are being replaced with new, lightweight, high-strength materials, which is an efficient way to achieve the goals of lowering emissions, using fewer materials, and improving fuel efficiency. The 3D printed components are highly used for rapid prototyping in the aerospace industry and the companies have started using engine components made from a 3D printed process. In addition to manufacturing expenses, maintenance costs can be decreased as well because 3D-printed parts require less maintenance. Other than material expenses, the price of printing 10 pieces of the same product versus 10 pieces of ten distinct products is the same. The addictive manufacturing process is helping in making the components cost effective and light weight. All these factors are driving the growth of the global Aerospace 3D Printing Market during the forecast period.
To increase the usage of 3D-printed parts and components in more advanced aircraft and spacecraft, several aerospace OEMs are now funding extensive research programs. Additionally, the adoption of 3D-printed parts is expanding in the aftermarket sector since doing so could ease the strain on conventional supply networks. period. The advantages that 3D printing provides have made it more widely accepted in the aviation industry. With shorter lead times, lower prices, and more digitally flexible design and development techniques, 3D printing generates parts. Both customers and manufacturers experience significant cost savings because of the adoption of 3D printing. However, the COVID-19 has impacted the industry as because of lockdowns and other curbs all the manufacturing process was hampered, and this has resulted in the decline in the growth of the market. However, in the forecast years the Global Aerospace 3D Printing Market will exhibit higher growth rate.
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The Global Aerospace 3D Printing Market is segmented based on application, material type, printer technology type, by region, and by company. Based on application, the market is further divided into aircraft, unmanned aerial vehicles, & spacecraft. Based on material, the market is bifurcated into alloys & special metals. On the basis of printer technology, the market is further segmented into SLA, FDM, DMLS, SLS, CLIP and others.
Some of the major companies operating in the Global Aerospace 3D Printing Market include:
- Aerojet Rocketdyne Holdings Inc.
- MTU Aero Engines AG
- GE Aviation
- Stratasys, Ltd.
- The Exone Company,
- Materialise NV
- 3D Systems, Inc
- Hoganas AB
- Envisiontec GmbH
- EOS GmbH
These are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with the research and development firms, new product developments, and marketing activities to increase customer outreach. These companies are also focusing on meeting the regulations of different regional governments and are also partnering with different defense research bodies to stay competitive in the market.
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“In the next few years, 3D printing is anticipated to develop into a speedy method for producing low-volume parts that can be used in the mass manufacturing of the components of big metal and the process is also used in the prototyping of the component. The advancements and technological innovations in the industry is expected drive Global Aerospace 3D Printing Market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Aerospace 3D Printing Market- Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2030” has evaluated the future growth potential of Global Aerospace 3D Printing Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Aerospace 3D Printing Market.
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