The Business Research Company’s Aerospace 3D Printing Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 6, 2022 /EINPresswire.com/ — The rising demand for lightweight parts and components from the aerospace industry is driving the growth of the aerospace 3D printing market. Lightweight design is a highly described and used concept in various industries, particularly in aerospace, and is related to the green aviation theory. 3D printing allows the creation and deployment of various lightweight prototypes, enabling designers to refine the form and fit of finished parts in the aerospace industry. For instance, a 20% weight reduction in a Boeing 787 is expected to generate a 10 to 12% improvement in fuel efficiency. In addition to a decrease in carbon footprint, lightweight parts also improve operational efficiency with such things as better acceleration, higher structural strength, and better protection performance. Therefore, the rising demand for lightweight parts and components from the aerospace industry is driving the growth of the aerospace 3D printing market.
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The global aerospace 3D printing market size is expected to grow from $1.41 billion in 2021 to $1.80 billion in 2022 at a compound annual growth rate (CAGR) of 27.74%. The growth in the market is mainly due to the companies’ rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global aerospace 3D print market size is expected to reach $5.19 billion in 2026 at a CAGR of 29.80%.
Technological advancements are a key trend gaining popularity in the aerospace 3D printing market. Technological advancement is the discovery of knowledge that advances technology in developing new products. For instance, in May 2021, Belgium-based 3D printing company, Materialise, introduced flight-ready parts using laser sintering technology. Laser sintering uses a high-power laser to sinter small particles of polymer powder into a solid structure based on a 3D model. The company is using a flame-retardant polyamide (PA 2241 FR) to produce laser sintered parts under the Airbus Process Specification AIPS 03-07-022.
Major players covered in the global aerospace 3D printing industry are Norsk Titanium, Materialise NV, EOS GmbH, Arcam AB, 3D Systems Corporation, Ultimaker B.V., Stratasys Ltd., GE Aviation, Airbus SE, Safran SA, Raytheon Technologies Corporation, The Exone Company, MTU Aero Engines AG, Höganäs AB, Oerlikon Group, Renishaw plc, The Trumpf Group, Made In Space and MTU Aero Engines AG.
TBRC’s global aerospace 3D printing market report is segmented by material type into metals, plastics, ceramics, by industry type into aircraft, spacecraft, unmanned aerial vehicles, by printer technology type into direct metal laser sintering (DMLS), fused deposition modeling (FDM), continuous liquid interface production (CLIP), stereolithography (SLA), selective laser sintering (SLS), by process type into material extrusion, powder bed fusion, direct energy deposition, material jetting, binder jetting, sheet lamination, vat photo-polymerization, by application into structural components, engine components, space components.
Aerospace 3D Printing Global Market Report 2022 – By Material Type (Metals, Plastics, Ceramics), By Industry Type (Aircraft, Spacecraft, Unmanned Aerial Vehicles), By Printer Technology Type (Direct Metal Laser Sintering (DMLS), Fused Deposition Modeling (FDM), Continuous Liquid Interface Production (CLIP), Stereolithography (SLA), Selective Laser Sintering (SLS)), By Process Type (Material Extrusion, Powder Bed Fusion, Direct Energy Deposition, Material Jetting, Binder Jetting, Sheet Lamination, Vat Photo-Polymerization), By Application (Structural Components, Engine Components, Space Components) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a aerospace 3D printing market overview, aerospace 3D printing market forecast aerospace 3D printing market size and aerospace 3D printing market growth for the whole market, aerospace 3D printing market segments, aerospace 3D printing market geographies, aerospace 3D printing market trends, aerospace 3D printing market drivers, aerospace 3D printing market restraints, leading competitors’ revenues, profiles, and market shares.
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