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Global Aerospace Additive Manufacturing Market to Strike an Impressive CAGR of 20.24% during 2018-2023: MRFRThe booming aerospace industry is reaping benefits of the recently initiated technological advancements. One such is additive manufacturing. Results are quite astounding, designs erstwhile unimaginable has been conceived and executed with the assistance of such technology. It has empowered manufacturers and shortened the design process time duration. Engineers can create complex shapes within one mold with intricate dimensions and details. Aerospace additive manufacturing works well with engines and turbines and facilitates the production of small batches of components. The process incurs less cost, a profit which the industry is ready to integrate. The global aerospace additive manufacturing market is expecting a lead by 20.24% CAGR during the forecast period (2018-2023). A report published by Market Research Future (MRFR) pivots around segmental analysis and incorporates drivers for a comprehensive study of the aerospace additive manufacturing market.
Among the major drivers that can have a significant impact on the aerospace additive manufacturing market, demand for lighter aircraft can be considered the most influential. Lighter aircraft means lesser fuel consumption which, coupled with the need for better passenger experience, is drawing too much attention from the aircraft buyers. Aerospace additive manufacturing market is all set to soar higher by leveraging such demands. It not only increases combination factor but adds durability which is always a plus in the aerospace industry. At the same time, an influx of startups can be witnessed who are bringing in technological upheavals to transform the dominant paradigm causing the market to turn intense. The aerospace additive manufacturing market can only expect to benefit from such healthy competition.
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Competitive Landscape
The prominent players in the global aerospace additive manufacturing market include -
• GE Additive
• Stratasys
• ExOne
• Arcam AB
• EOS
• Concept Laser
• CRP Technology S.R.L
• SLM Solutions
• 3D System
• ATI
• CRS Holdings Inc.
• Optomec
Industry Updates
In January 2018, ASTM International and Innovate UK announced a partnership to develop international additive manufacturing standards for various sectors including aerospace and automotive. The effort is being supported through an investment of £300,000 by Innovate UK. Other companies supporting the collaboration include Airbus, GE, GKN, BAE Systems, Rolls-Royce, and many others.
Segmentation
The global aerospace additive manufacturing market has been segmented based on platform, application, material type, and technology.
By platform, the global aerospace additive manufacturing market has been segmented into aircraft, unmanned aerial vehicle, and spacecraft. The aircraft segment dominates the market and is likely to maintain the same growth trend over the forecast period.
By application, the global aerospace additive manufacturing market has been segmented into engine, structural, and others. The engine segment leads the global market.
By material type, the global aerospace additive manufacturing market has been segmented into metal alloy, plastic, rubber, and others. The metal alloy segment is expected to be the largest segment over the forecast period.
By technology, the global aerospace additive manufacturing market has been segmented into 3D Printing, laser sintering, fused deposition modeling, electron beam melting and stereolithography. The 3D printing segment is likely to be the leading segment since 3D printing is a prominent additive manufacturing technology and will gain traction in the coming years.
Regional Analysis
By region, the global additive manufacturing market has been segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Rest of the World (RoW).
North America being the home to some of the key players lead in the production and sales of industrial grade aerospace additive manufacturing systems. Industry giants such as Stratasys and 3D Systems are based in the US which acts as a plus for the growth of the market. The market players in the region outlay massive amounts on R&D activities which is a contributing factor to the growth of the North America market.
Europe and APAC are also significant revenue pockets, and both collectively account for nearly 50% share of the global aerospace additive manufacturing market. Europe commands the second position in the global aerospace additive manufacturing market. Constant, strong support from the European Union and member governments aid in the development of additive manufacturing technology in the region. Moreover, extensive R&D efforts in the additive manufacturing arena add fuel to the growth of the market.
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Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
Continued..........
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Aerospace Additive Manufacturing Market, by Platform, 2017-2023 (Usd Million)
Table 4 Aircraft: Aerospace Additive Manufacturing Market, by Type, 2017-2023 (Usd Million)
Table 5 Global Aerospace Additive Manufacturing Market, by Application, 2017-2023 (Usd Million)
Table 6 Global Aerospace Additive Manufacturing Market, by Material Type, 2017-2023 (Usd Million)
Table 7 Global Aerospace Additive Manufacturing Market, by Technology, 2017-2023 (Usd Million)
Table 8 Laser Sintering: Aerospace Additive Manufacturing Market, by Type, 2017-2023 (Usd Million)
Table 9 Global Aerospace Additive Manufacturing Market, by Region, 2017-2023 (Usd Million)
Continued........
List of Figures
Figure 1 Global Aerospace Additive Manufacturing Market: Market Structure
Figure 2 Key Takeaways From Aerospace Additive Manufacturing Market
Figure 3 Key Buying Criteria of Aerospace Additive Manufacturings
Figure 4 Research Process of Mrfr
Figure 5 Top Down & Bottom Up Approach
Figure 6 Droc Analysis of Global Aerospace Additive Manufacturing Market
Figure 7 Change in Military Spending Among Top 10 Countries (2007 – 2017)
Continued.........
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Release ID: 470810
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