3D printing & additive manufacturing (AM) is a technology used to mimic and print real parts which have implications for the country’s security and defense capability. Additive manufacturing is also known as 3-D printing that allows manufacturing industry to design and produce products. It is a revolutionary technology used as a prototyping solution in manufacturing sector and has been introduced to National Aeronautics and Space Administration (NASA) in order to build a 3D rocket engine.
Increasing investments in commercial aerospace & defense for development of additive manufacturing and new technologies and advances in manufacturing processes and materials in order to increase the fuel efficiency are factors proliferating demand for AM technology. In addition, increasing demand for AM technology in manufacturing of various parts such as turbine, engine parts, cabin interior, aircraft wing, etc. owing to its ability to withstand extreme conditions. Rising demand for additive manufacturing in order to improve efficiency and reduce costs of weapon systems have a positive impact on the global 3D printing & additive manufacturing in the aerospace & defense market.
High production cost, discontinuous production process, and post-processing requirement are factors challenging growth of the global market. Increasing digitalization, coupled with government initiatives to enhance manufacturing capabilities in emerging countries are factors which in turn offer a lucrative opportunity for original equipment manufacturers (OEMs) operating in the global 3D printing & additive manufacturing in the aerospace & defense market.
3D printing & additive manufacturing in the aerospace & defense is segmented on the basis of type i.e., plastics material, ceramics material, metals material, and other material. Increasing demand for technology to print structures using high strength and lightweight materials. AM technology produces minimal waste as compared to conventional manufacturing techniques. 3D printing & additive manufacturing is widely used in various applications such as commercial aerospace, defense, and space.
$ 1,145.7 Mn
- By Type
- By Region
- By Application
The market is segmented on the basis of region such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Increasing initiatives and spending for adoption of AM technology to manufacture various parts in countries such as the US and Canada is a factor augmenting demand for 3D printing & additive manufacturing in the aerospace & defense in the North America region. Increasing investments to prioritizing digitization in manufacturing sector and rising demand for metal type 3D printing in Germany has a positive impact on the global market in Europe. Increasing demand for 3D printing projects in Japan is a factor augmenting demand for additive manufacturing technology in the Asia Pacific region. Additionally, increasing investments to adopt AM technology in order to build aerospace components using DED in China and for development of 3D printed ship in South Korea as an innovation in coming future has a positive impact on the Asia Pacific market.
The worldwide market for 3D printing & additive manufacturing in the aerospace & defense is expected to register significant CAGR of around 19.5% over the next ten years and will be valued at 6,803.9 Mn in 2028, from US$ 1,145.7 Mn in 2018.
Some of the prominent players operating in the target market include Bruker and JEOL.