Aerospace 3D Printing Market: Current Analysis and Forecast (2024-2032)
Emphasis on Type of Offering (Printer, Material); By Technology (Power Bed Fusion, Polymerization, Fusion Deposition Modeling, Others), By Industry (UAE, Space, Aircraft); By Application (Engine Component, Space Component, Structural Component) and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of the Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
Global Aerospace 3D Printing Market Size & Forecast
The Global Aerospace 3D Printing Market was valued at USD 2,846.77 million in 2023 and is expected to grow at a strong CAGR of around 19.84% during the forecast period (2024-2032) owing to rising demand for 3D printing in the spacecraft industry across the globe.
Global Aerospace 3D Printing Market Analysis
Aerospace 3D Printing, also known as additive manufacturing, is used to print objects of different shapes and sizes by depositing material layer by layer according to a digital design. 3D printing offers a flexible option for manufacturing for aerospace companies looking to produce components in small numbers and with high precision.
The Global Aerospace 3D Printing market was valued at USD 2,846.77 million in 2023 and is expected to grow at a strong CAGR of around 19.84% during the forecast period (2024-2032). One of the key factors that has contributed to the growth of the Aerospace 3D Printing market is the rising demand for 3D printing in the Aerospace sector. With the emergence of space tourism and the impetus to improve satellite communication through satellite launches. With the focus on reducing the cost of space launches, many aerospace companies have started adopting 3d printing for the construction of key components of spacecraft, such as engines, structures, other components, etc. For instance, in 2024, the Indian Space Research Organization (ISRO) announced that it launched its first 3d printed satellite with the help of PSLV (Polar Satellite Launch Vehicle). According to ISRO, the 3d printing reduced the number of components in the engine from fourteen to one, reducing the overall production time by 60%.
The demand for 3d printed components used in the aerospace industry has also jumped multifold due to the leading 3d printer companies using the technology in aerospace to reduce the weight and cost for the clients. According to Materialise N.V., every kilogram put into space costs around USD 20,000, making the reduction of even small quantities crucial. Aluminum and titanium are two of the most used materials, which, in additive manufacturing, could save a notable cost on space launch. According to the company, with its 3d printing technology, it was able to reduce the insert’s mass from 1450 grams to 500 grams, also reducing the challenge related to thermos-elastic stress.
Aviation is also readily adopting solutions related to 3D manufacturing. Leading aircraft manufacturing companies have started adopting 3D technology for modification and overhaul purposes.
Global Aerospace 3D Printing Market Trends
This section discusses the key market trends that are influencing the various segments of the Global Aerospace 3D Printing Market as identified by our team of research experts.
Rising Demand for UAV And Autonomous Aircraft to Promote the Future Market
Many aircraft manufacturers have aligned their efforts towards unmanned and autonomous flying vehicles. This type of vehicle is either remotely operated or is embedded with pre-defined paths to be followed. Considering the rising demand for the segment, the production needs to be scaled up. Additionally, 3D printing offers various advantages, such as providing lightweight components, customization and optimization, rapid prototyping, complex assemblies, reduced cost, on-demand- manufacturing, etc. The 3D printing in the UAV is further anticipated to grow due to rising demand from both domestic and foreign export markets across the globe. For instance, in 2023, the Government of the USA signed a deal with the Government of India to provide 31 MQ-9B Predator drones for a total cost of USD 4 billion.
In another instance, in 2023, Kuwait signed a deal with Turkish company Baykar to provide armed drones TB2 Baykar with a total cost of USD 367 million.
Considering the rising demand for UAVs across the globe, the demand for aerospace 3D printing in the particular category is anticipated to find rapid growth, subsequently improving its market in the forthcoming years.
North America is Expected to Hold Major Market Share During Forecast Period
North America holds the major market share in the aerospace 3D printing market. Some of the factors attributing to the market growth are the presence of a huge aerospace industry focusing on both manned and unmanned space missions, one of the largest commercial and military aircraft fleets, and an increasing government budget to support the aerospace industry.
The aircraft companies in the North American region have increasingly adopted 3D printing technology for aircraft tooling, components, and prototypes. Additionally, the increasing speed of building large volumes, usage of improved materials, and advancements to produce complex parts have further instigated the demand for 3d printing technology in the aircraft manufacturing industry.
In 2023, the 60th Maintenance Squadron and 349th Aircraft Maintenance Squadron announced they recently finished work to modify an internal part for a C-5M Super Galaxy aircraft by incorporating 3D-printed materials.
Global Aerospace 3D Printing Industry Overview
The Global Aerospace 3D Printing market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are 3D Systems Corporation, Stratasys, Materialise N.V., Relativity Space, Ultimaker B.V., EOS GmbH, Norsk Titanium AS, Aerojet Rocketdyne (L3harris Technology Company), The Exone Company, and Safran S.A.
Global Aerospace 3D Printing Market News
In 2024, GKN Aerospace, one of the leading aerospace manufacturers in the UK, announced it will invest USD 64 million in its additive manufacturing capability at its Trollhättan, Sweden facility.
In 2024, Beehive Industries demonstrated its first 3D printed aircraft engine ignited. According to the company it is an opportunity to be used in unmanned aerial vehicles in the coming years.
Global Aerospace 3D Printing Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The Global Aerospace 3D Printing market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Global Aerospace 3D Printing Market Analysis (2024-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the Global Aerospace 3D Printing market were the three major steps undertaken to create and analyze the adoption of Global Aerospace 3D Printing in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the Global Aerospace 3D Printing market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Global Aerospace 3D Printing market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Global Aerospace 3D Printing market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type of offering, by technology, by industry, and by application. Further regional/country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Global Aerospace 3D Printing market. Further, we conducted factor analysis using dependent and independent variables such as type of offering, by technology, by industry, and by application in the Global Aerospace 3D Printing market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Global Aerospace 3D Printing market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Aerospace 3D Printing market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors, including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach, were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Global Aerospace 3D Printing market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Global Aerospace 3D Printing market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Global Aerospace 3D Printing market. Data was split into several segments and sub-segments after studying various parameters and trends in the type of offering, by technology, by industry, and by application in the Global Aerospace 3D Printing market.
The main objective of the Global Aerospace 3D Printing Market Study
The current & future market trends of the Global Aerospace 3D Printing market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Global Aerospace 3D Printing market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of type of offering, by technology, by industry, and by application.
- Define and analyze the regulatory framework for the Global Aerospace 3D Printing
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Global Aerospace 3D Printing market for the major regions.
- Major countries of regions studied in the report include North America (The US, Canada, and Rest of North America), Europe (The UK, France, Germany, Italy, Spain, Rest of Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World
- Company profiles of the Global Aerospace 3D Printing market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry.
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the Global Aerospace 3D Printing market?
Q2: What are the driving factors for the growth of the Global Aerospace 3D Printing market?
Q3: Which segment has the largest share of the Global Aerospace 3D Printing market by type of Offering?
Q4: Which region will dominate the Global Aerospace 3D Printing market?
Related Reports
Customers who bought this item also bought
Autonomous Navigation Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Platform (Airborne, Land, Marine, Space, Weapon); By System (Sensing System, Navigation System, Processing System, Software System), By Application (Commercial, Military, Government), and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of the Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
October 14, 2024
Aerospace Composites Market: Current Analysis and Forecast (2024-2032)
Emphasis on Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites, Others); By Matrix Type (Polymer Matrix (Thermoset Polymer Matrix (Epoxy, Phenolic, Polyamide, Others), Thermoplastic Polymer Matrix (PEEK, PEI, Others), Ceramic Matrix, Metal Matrix); and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Russia, Rest of Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
October 8, 2024
Advanced Air Mobility Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Application (Cargo, Passenger, Mapping, Special Mission, Surveillance and Monitoring, Others); By End-User (Commercial (E-Commerce, Commercial Ridesharing Operator, Private Operators, Medical Emergency Organization, Others), Government), By Propulsion (Gasoline, Electric, Hybrid), By Component (Hardware (Aerostructure, Avionics, Flight Control Systems, Propulsion Systems, Others), Software) and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of the Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
September 5, 2024
