The military 3D printing market is estimated to be USD 799.8 million in 2018 and is projected to reach USD 4,594.4 million by 2025, at a CAGR of 28.37% from 2018 to 2025
NEW YORK, June 7, 2018 /PRNewswire/ -- The military 3D printing market is projected to grow at a CAGR of 28.37% during the forecast period.
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The military 3D printing market is estimated to be USD 799.8 million in 2018 and is projected to reach USD 4,594.4 million by 2025, at a CAGR of 28.37% from 2018 to 2025. Military 3D printing can be defined as the process of creating three-dimensional objects from a digital file using various materials, such as steel alloys, aluminum, titanium, plastics, nickel, and ceramics. The demand for lightweight parts and components in the defense industry and investments made by defense entities in 3D printing projects are key factors projected to drive the growth of the military 3D printing market. However, limited availability of materials and stringent military standards are acting as restraints to the growth of the market.
Based on offering, the printer segment is estimated to lead the military 3D printing market in 2018.
Based on offering, the printer segment is estimated to lead the military 3D printing market in 2018. OEMs are focused on the adoption of 3D printing technology to manufacture defense equipment, which, in turn, has contributed to the increasing demand for 3D printers.
Based on process, the powder bed fusion segment is estimated to lead the military 3D printing market in 2018.
Based on process, the powder bed fusion segment is estimated to lead the military 3D printing market in 2018. Benefits of powder metal 3D printing that include diverse material options and suitability for prototyping are contributing to the growth of the powder bed fusion segment.
Based on application, the prototyping segment is estimated to lead the military 3D printing market in 2018.
Based on application, the prototyping segment is estimated to lead the military 3D printing market in 2018. The increasing use of 3D printing by defense companies to reduce wastage during prototype transitions in traditional manufacturing is one of the key factors driving the market for prototyping.
North America led the military 3D printing market in 2017.
The North American region led the military 3D printing market in 2017.The US and Canada are key countries considered for market analysis in this region.
Increased government investments in 3D printing projects are expected to fuel the growth of the military 3D printing market in North America.
-- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
-- By Designation: C Level - 35%, Director Level - 25%, and Others - 40%
-- By Region: North America - 40%, Europe - 20%, Asia Pacific - 10%, and RoW - 30%
Key players operating in the military 3D printing market include Stratasys (US), 3D Systems (US), ExOne (France), EOS (Germany), Arcam (Sweden), and Norsk Titanium (Germany).
Research Coverage
The military 3D printing market has been segmented on the basis of offering (printer, material, software, and service), process (binder jetting, direct energy deposition, material extrusion, material jetting, powder bed fusion, vat photopolymerization, and sheet lamination), application (functional part manufacturing, tooling, and prototyping), and platform (airborne, land, naval, and space).These segments and subsegments are mapped across major regions, namely, North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW).
The report provides in-depth market intelligence regarding key market dynamics and major factors (drivers, restraints, opportunities, and industry-specific challenges) that influence the growth of the military 3D printing market, in addition to an analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the military 3D printing market.
Reasons to buy the report:
From an insight perspective, the military 3D printing market report focuses on various levels of analyses -- industry analysis; market share analysis of top players; company profiles that comprise and discuss basic views on the competitive landscape; high-growth regions and countries as well as their respective regulatory policies; and drivers, restraints, opportunities, and challenges.
The military 3D printing market report provides insights on the following pointers:
-- Market Penetration: Comprehensive information regarding the competitive landscape in the military 3D printing market
-- Market Sizing: Market size in the financial year (2016-2017) and projection of the market size from 2018 to 2025
-- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the military 3D printing market
-- Market Overview: Market dynamics and subsequent analysis of associated trends, drivers, and opportunities prevailing in the military 3D printing market
-- Market Development: Comprehensive information about lucrative markets--the report analyzes the market for military 3D printing solutions across various regions worldwide
-- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military 3D Printing market
-- Regional Analysis: Factors influencing market shares of North America, Europe, Asia Pacific, the Middle East, and Rest of the World
-- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players
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