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Aerospace Additive Manufacturing Market Trends, Key Drivers, Opportunities, Leading Players And Forecast To 2033
Aerospace Additive Manufacturing Market
The aerospace additive manufacturing market size is expected to see exponential growth in the next few years. It will grow to $11.28 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to increasing adoption in commercial aviation, advancements in print speed and scale, supply chain resilience and localized production, emerging materials and composites, sustainable manufacturing practices. Major trends in the forecast period include materials innovation, scaling production with large-scale additive manufacturing, enhanced design capabilities with generative design, supply chain resilience through on-demand manufacturing, quality assurance and certification advances.
Market Overview -
Aerospace additive manufacturing, also known as 3D printing in aerospace, refers to the use of additive manufacturing technologies to produce aerospace components and parts. This process involves building up layers of material, such as metals, polymers, or composites, to generate intricate forms and structures that would be difficult or impossible to produce using typical manufacturing processes.
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Skyrocketing Air Passenger Traffic Propels Growth In Aerospace Additive Manufacturing Market
Air passenger traffic is expected to propel the growth of the aerospace additive manufacturing market going forward. Air passenger traffic refers to an increase in the number of passengers due to various reasons, such as work-related, business-related, and tourism-related. Air passenger traffic is prompting aircraft companies to arrange more domestic and international flights, which is resulting in increased aircraft manufacturing, which in turn is spiking the usage of aerospace additive manufacturing. For instance, in February 2023, according to the International Air Transport Association (IATA), a Canada-based group of world airlines, total passenger traffic rose by 64.4% in 2022 compared to 2021. The air traffic in December 2022 alone rose by 39.7% compared to December 2021. Therefore, the surge in passengers is driving the aerospace additive manufacturing market going forward.
Competitive Landscape -
Major companies operating in the aerospace additive manufacturing market report are 3D Systems Corporation, Arcam AB, Concept Laser GmbH, CRP Technology Srl, EOS GmbH Electro Optical Systems, ExOne Company, Optomec Inc., SLM Solutions Group AG, Stratasys Ltd., CRS Holdings Inc., General Electric Company, 3DCeram S.A.S., Carpenter Technology Corporation, Arconic Corporation, Markforged, Airbus SE, Boeing Company, Bombardier Inc., Embraer S.A., Rolls-Royce Holdings plc, Honeywell International Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Safran S.A., BAE Systems plc, Cobham plc, General Dynamics Corporation, Harris Corporation, Kaman Corporation, Moog Inc., Parker Hannifin Corporation, United Technologies Corporation, Aerojet Rocketdyne Holdings Inc., AeroVironment Inc., Aurora Flight Sciences Corporation, Blue Origin LLC, RTX Corporation
Innovative Technological Advancements In Aerospace Additive Manufacturing
Technological advancements are a key trend gaining popularity in the aerospace additive manufacturing market going forward. Major companies operating in the aerospace additive manufacturing market are developing innovative technologies to strengthen their position in the market. For instance, in February 2021, 3D Systems, a US-based engineering firm, introduced the High Speed Fusion industrial 3D printer platform and material portfolio. The platform system comprises unique printing technology and sophisticated material systems. It is one-of-a-kind system that runs at speeds and precision levels far exceeding current state-of-the-art manufacturing platforms thanks to superior electric motion control.
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Key Segments -
The aerospace additive manufacturing market covered in this report is segmented -
1) By Material Type: Metal Alloy, Plastic, Rubber, Other Materials
2) By Technology: Laser Sintering, 3D Printing, Electron Beam Melting, Fused Deposition Modeling, Stereo Lithography, Other Technologies
3) By Platform: Aircraft, Unmanned Aerial Vehicle, Spacecraft
4) By Application: Engine, Structural, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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