by Fairfield Market Research, a leading market analysis firm, forecasts remarkable growth in the global aircraft 3D printing market. Their latest report uncovers the critical factors propelling this upward trajectory and highlights regions of strategic significance for market expansion.
Market Analysis Highlights
The global aircraft 3D printing market is poised for significant growth, driven by 3D printings unique ability to create intricate designs and complex geometries, which are challenging to achieve through conventional manufacturing processes. Furthermore, aircraft 3D printing methods substantially reduce maintenance costs by eliminating the need for tooling, streamlining production, and minimizing material waste. It also enables the consolidation of multiple components into a single printed part, reducing post-processing and assembly costs. Favorable regulatory considerations and adherence to quality control standards further accelerate market growth.
Key Report Findings
- The global aircraft 3D printing market reached approximately US$2.5 billion in 2021.
- The printers segment is expected to lead the market, driven by increasing demand for custom and cost-efficient manufacturing and printing.
- North America is poised to establish a strong foothold in the global aircraft 3D printing market.
- Leading players in the aircraft 3D printing industry include SLM Solutions Group AG (Germany), 3D Systems (US), Stratasys (Israel), General Electric Company (US), and Materialise (Belgium).
Growth Drivers
Growing Demand for Lightweight Aircraft Components: Heavy auxiliary components in aircraft, satellites, and rockets contribute significantly to operational costs due to increased fuel consumption and higher carbon emissions. 3D printing is gaining prominence in manufacturing components such as engine and fuselage parts, effectively reducing aircraft weight and fuel costs.
Significantly Reduced Production Time with Advanced Technology: The latest 3D printing technologies have revolutionized aerospace component production, reducing production times from months to days. Technologies like continuous liquid interface production (CLIP) are gaining traction, further shortening manufacturing cycles.
Growth Challenges
Lengthy Manufacturing for High-Volume Production: The cost associated with 3D printing machines is higher compared to conventional manufacturing, limiting its suitability for high-volume production. Traditional manufacturing methods offer reduced costs at scale, posing a challenge to the adoption of 3D printing for large-scale production.
Key Market Segments
- Printer Segment Dominance: The printers segment is expected to dominate, driven by the demand for cost-efficient custom manufacturing and printing.
- FDM Technology Leading: Material extrusion or fusion deposition modelling (FDM) is anticipated to lead in technology segments, offering efficient production of complex shapes with minimal waste.
- Aircraft Segment Prominence: The aircraft segment is expected to maintain a prominent market share due to the increasing demand for lightweight and cost-efficient aircraft.
Regional Overview
- North America Sustains Global Dominance: North America is set to occupy a significant share in the global aircraft 3D printing market, driven by the adoption of 3D printing technology for manufacturing lightweight and complex components.
- Asia Pacific Growth: Asia Pacific is poised to witness the highest CAGR, driven by the use of 3D printers for small component manufacturing in space and aircraft systems.
Prominent Industry Participants
Key international market entities include SLM Solutions Group AG (Germany), 3D Systems (US), Stratasys (Israel), General Electric Company (US), Materialise (Belgium), CleanGreen3D (Mcor Technologies Limited) (US), EOS GmbH (Germany), Ultimaker BV (Netherlands), Proto Labs, Inc. (US), The ExOne Company (US), Relativity Space (US), Voxeljet AG (Germany), Velo 3D (US), and EnvisionTEC (US).
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/aircraft-3d-printing-market
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This press release first seen on Brilad
COMTEX_441948257/2840/2023-10-15T23:06:33
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.