Aerospace Additive Manufacturing Market

Market Overview:

The global aerospace additive manufacturing market size reached US$ 3.86 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.08 Billion by 2028, exhibiting a growth rate (CAGR) of 18.56% during 2023-2028. The extensive research and development (R&D) activities and growing concerns for reducing carbon footprint through aircraft weight reduction represent some of the key factors driving the market.

Additive manufacturing (AM) refers to the process utilized to manufacture prototypes with 3D computer-aided design (CAD). AM in the aerospace industry is used to manufacture aircraft parts, more efficient engines and 3D-printed turbines. It involves the process of creating an object by building it one layer at a time in precise geometric shapes. Aerospace AM uses various materials for manufacturing parts and components, such as metal alloys, ceramics, plastic, and rubber. It offers improved part performance, reduces weight, cost, and time, and helps to remove design and production constraints. As compared to traditional manufacturing methods, aerospace AM is a commercially viable alternative that facilitates complex geometries and mass customization of parts and reduces raw material wastage.

Aerospace Additive Manufacturing Market Trends:

The increasing demand for manufacturing customized, high-quality parts and components are one of the key factors driving the market growth. Aerospace AM is widely used to produce grips, jigs, and fixtures at low costs. In line with this, the widespread adoption of AM helps to fabricate parts with premium materials with small production runs and short turnaround times, which is favoring the market growth. Moreover, the rising demand for customized and complex design components is acting as another growth-inducing factor. Aerospace AM helps to achieve complex and customized parts, such as engines, brackets, ducting, and seat belt buckles. Apart from this, the integration of artificial intelligence (AI) with aerospace AM to detect manufacturing errors in real-time, monitor and adjust the 3D printing process and quickly detect geometrical distortions, is providing an impetus to the market growth. Additionally, the increasing utilization of AM in the aerospace industry as it offers a level of precision and helps to attain more intricate designs, which, in turn, is positively influencing the market growth. Furthermore, the escalating demand for AM to reduce the weight of compressor vanes, diffusers, acoustic attenuation devices, and heat exchangers, and deliver complexity and performance targets is facilitating the market growth. The market is also driven by the increasing demand for 3D printed parts or prototype parts from the aerospace industry and extensive research and development (R&D) activities. Other factors, such as rising concerns for reducing carbon footprint through aircraft weight reduction, thus consequently diminishing the fuel requirement, and the rising demand for green manufacturing solutions, are supporting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global aerospace additive manufacturing market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on platform, material type, technology, and application.

Platform Insights:

• Aircraft
• Unmanned Aerial Vehicle
• Spacecraft
   

The report has provided a detailed breakup and analysis of the aerospace additive manufacturing market based on the platform. This includes aircraft, unmanned aerial vehicle, and spacecraft. According to the report, aircraft represented the largest segment.

Material Type Insights:

• Metal Alloy
• Plastic
• Rubber
• Others
   

The report has provided a detailed breakup and analysis of the aerospace additive manufacturing market based on the material type. This includes metal alloy, plastic, rubber, and others. According to the report, metal alloy represented the largest segment.

Technology Insights:

• 3D Printing
• Laser Sintering
• Stereolithography
• Fused Deposition Modelling
• Electron Beam Melting
   

 The report has provided a detailed breakup and analysis of the aerospace additive manufacturing market based on the technology. This includes 3D printing, laser sintering, stereolithography, fused deposition modelling, and electron beam melting.  According to the report, 3D printing represented the largest segment.

Application Insights:

• Engine
• Structural
• Others
   

The report has provided a detailed breakup and analysis of the aerospace additive manufacturing market based on the application. This includes engine, structural, and others. According to the report, engine represented the largest segment.

Regional Insights: 

• North America 
  • United States 
  • Canada 
• Asia Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Australia 
  • Indonesia 
  • Others
• Europe 
  • Germany 
  • France 
  • United Kingdom 
  • Italy 
  • Spain 
  • Russia 
  • Others  
• Latin America 
  • Brazil 
  • Mexico 
  • Others 
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for aerospace additive manufacturing. Some of the factors driving the North America aerospace additive manufacturing market included significant technological advancements, well-established aerospace industry, and the increasing demand for customized and complex design components.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global aerospace additive manufacturing market. Detailed profiles of all major companies have also been provided. Some of the companies covered include 3D Systems Inc., CRP Technology S.r.l., EOS GmbH, General Electric Company, Optomec Inc., SLM Solutions Group AG, Stratasys Ltd., The ExOne Company (Desktop Metal Inc.), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global aerospace additive manufacturing market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global aerospace additive manufacturing market?
• What are the key regional markets?
• Which countries represent the most attractive aerospace additive manufacturing markets?
• What is the breakup of the market based on the platform?
• What is the breakup of the market based on the material type?
• What is the breakup of the market based on technology?
• What is the breakup of the market based on the application?
• What is the competitive structure of the global aerospace additive manufacturing market?
• Who are the key players/companies in the global aerospace additive manufacturing market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the aerospace additive manufacturing market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global aerospace additive manufacturing market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the aerospace additive manufacturing industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.