The global aerospace 3D printing market is anticipated to witness noteworthy growth in the 2019—2026 timeframe. Growing adoption of 3D printing technology by aircraft manufacturers is driving the growth of the market. The engine components sub-segment, aircraft sub-segment, and materials sub-segment are projected to lead the market. The North America market is anticipated to be at the forefront.
New York, USA, Oct. 27, 2021 (GLOBE NEWSWIRE) -- A new report on the global aerospace 3D printing market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $5,933.4 million by 2026, rising at a CAGR of 26.8% from 2019 to 2026. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the Market Growth
The key factors boosting the growth of the global aerospace 3D printing market are the rising number of air travel and boosting demand for top-selling aircrafts like A320 and B787. Moreover, the market players are investing on 3D printing to improve the performance by reducing the maintenance requirements and saving costs involved in fuel. This is projected to open doors to profitable opportunities for the growth of the market throughout the forecast period. However, high cost of components used in aerospace 3D printing is expected to hinder the market growth.
The report segments the global aerospace 3D printing market into type, application, end use, and region.
Materials Sub-Segment to Experience Rapid Growth
The materials sub-segment of the type segment is anticipated to grow significantly and garner $2,776.8 million during the forecast period. This is chiefly owing to the rising demand for a broad array of materials to print engines as well as structural components of airplanes.
Engine Components Sub-Segment to Hold a Leading Market Share
The engine components sub-segment of the application segment is anticipated to hold a foremost position in the market by garnering $2,598.8 million during the forecast period. This is chiefly owing to the rising emphasis of aircraft manufacturers on enhancing the engine parts of turbofan engines by making use of the 3D printing technology. Printers type has the largest share in the global market, and it shall cross $3,156.6 million, over the projected period.
Aircraft Sub-Segment to Contribute the Market Growth
The aircraft sub-segment of the end use segment is anticipated to observe significant growth and surpass $2,647.1 million during the forecast period. This is chiefly because of the increasing air travel as the prices of air travel tickets are reducing significantly.
North America Market to Observe Steady Growth
The report analyzes the global aerospace 3D printing market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North America region market is estimated to observe remarkable growth and hit $2,284.3 million in the forecast period. The presence of experienced professionals in 3D aerospace printing and highly integrated aircraft manufacturing facilities is one of the important factors for the aerospace 3D printing market, in this region. Furthermore, unmanned aerial vehicles and aircraft would witness key growth throughout the projected period. Acceleration in the innovation of aerospace, advancing the product level in manufacturing operations and significant organizations such as Leptron using 3D printing in all cycles of production are anticipated to boost the growth of aerospace 3D printing in North America region.
Major Key Market Players
The report lists some of the foremost players operating in the global aerospace 3D printing industry including -
3D Systems, Inc.
Norsk Titanium US Inc.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, in August 2021, Markforged, a U.S. 3D-printing firm, launched aerospace-ready 3d-printing materials that can be used in the interiors of aircrafts.
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