Oct 30, 2019   SOURCE: BusinessWire

Global Aerospace 3D Printing Market, Competition, Forecast & Opportunities, 2024 - ResearchAndMarkets.com

The "Global Aerospace 3D Printing Market, By Vertical (Material & Printer), By Industry (Aircraft (Commercial & Military, UAVs & Aerospace Spacecraft), By Printer Technology, By Printer Technology Application, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.

The Global Aerospace 3D Printing market was valued at around $ 1246 million in 2018 and is poised to grow at CAGR of more than 15% to surpass $ 2857 million by 2024 on account of traditional materials getting replaced with new high strength materials and lightweight, which is an effective way of meeting the goal of decreasing emissions, reducing material usage and increasing fuel efficiency.

Additionally, increasing demand for reducing the overall weight of the aircraft to improve fuel consumption is further fueling growth in the market. Moreover, 3D printing can be used to customize components and parts used in the aircraft industry by efficient use of the overall raw material with high accuracy, thereby promoting growth of 3D printing market. Complicated components can be easily made with the 3D printing technology with reduced errors. Growth of lightweight and fuel-efficient components has led to rise in engine application under material application segment, which is further anticipated to increase in the coming years.

The Global Aerospace 3D Printing market can be segmented based on vertical, industry, material, printer technology, and material application. In terms of vertical, the market can be bifurcated into printers and material. Material segment is anticipated to hold a major share of around 60% owing to increasing demand for materials possessing high strength to weight ratio for 3D printing technology. Based on the material application, 3D printing finds application in all the components and parts including engine, structural and space components. However, on account of increasing focus of companies on manufacturing engine components, the segment is posed to grow at impressive rate until 2024.

Regionally, the market for Aerospace 3D Printing is gaining traction and expanding to various regions including North America, North America, Europe, South America and Middle East & Africa. Among these regions, North America is the largest market of Aerospace 3D Printing.The growth of north America market is attributed to high adoption rate of 3D printing technology in the aerospace industry. Presence of regional and leading players in the region backed by approval from Federal Aviation Administration (FAA) for the use of 3D printed parts in commercial aircraft, the market of North America is anticipated to grow at substantial rate through 2024.

Major players operating in theAerospace 3D Printing market include Stratasys Ltd., The Exone Company, Materialise NV, Aerojet Rocketdyne, Ultimaker B.V., GE Additive (Arcam), MTU Aero Engines AG, Hgans AB, 3D Systems Corporation, Envisiontec GmbH, EOS GmbH, Sandvik, etc.

Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. Lockheed Martin Corp and Arconic entered into a two-year developmental agreement in order to develop customized lightweight material systems.

Years considered for this report:

  • Historical Years: 2014-2017
  • Base Year: 2018
  • Estimated Year: 2019
  • Forecast Period: 2020-2024

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer

5. Global Aerospace 3D Printing Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Vertical (Material; Printers)

5.2.2. By Industry (Aircraft (Commercial & Military); UAVs; Aerospace Spacecraft)

5.2.3. By Printer Technology (Stereolithography (SLA); Fusion Deposition Modelling (FDM); Direct Metal Laser Sintering (DMLS); Selective Laser Sintering (SLS); Continuous Liquid Interface Production (CLIP), Others)

5.2.4. By Printer technology Application (Engine Components; Structural Components; Space components)

5.2.5. By Company (2018)

5.3. Market Attractiveness Index

6. North America Aerospace 3D Printing Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Vertical

6.2.2. By Industry

6.2.3. By Printer Technology

6.2.4. By Printer technology Application

6.3. North America: Country Analysis

7. Europe Aerospace 3D Printing Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Vertical

7.2.2. By Industry

7.2.3. By Printer Technology

7.2.4. By Printer technology Application

7.2.5. By Country (France; Germany; UK; Italy; Spain and Rest of Europe)

7.3. Europe: Country Analysis

8. Asia-Pacific Aerospace 3D Printing Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Vertical

8.2.2. By Industry

8.2.3. By Printer Technology

8.2.4. By Printer technology Application

8.2.5. By Country (China; India; Japan; South Korea; Australia; and Rest of Asia Pacific)

8.3. Asia-Pacific: Country Analysis

9. Middle East and Africa Aerospace 3D Printing Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Vertical

9.2.2. By Industry

9.2.3. By Printer Technology

9.2.4. By Printer technology Application

9.2.5. By Country (UAE; Saudi Arabia; South Africa and Rest of Middle East & Africa)

9.3. MEA: Country Analysis

10. South America Aerospace 3D Printing Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Vertical

10.2.2. By Industry

10.2.3. By Printer Technology

10.2.4. By Printer technology Application

10.2.5. By Country (Brazil; Argentina; Colombia; and Rest of South America)

10.3. South America: Country Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Competitive Landscape

13.1. Competition Outlook

13.2. Company Profiles

13.2.1. MTU Aero Engines

13.2.2. Ultimaker B.V.

13.2.3. 3D Systems Corporation.

13.2.4. GE Additive (Arcam)

13.2.5. Stratasys Ltd

13.2.6. Envisiontec GmbH

13.2.7. The Exone Company

13.2.8. Hgans AB

13.2.9. EOS GmBH

13.2.10. Sandvik

14. Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/cv382k