Aerospace 3D Printing Market: Recent Study including Growth Factors, Applications, Regional Analysis, Key Players and Forecasts

Published On:May 17, 2017, 6:26 pm

3D print begins in the form of a digital 3D design file, similar to a blueprint, but for a physical object. The concept of 3D printing is also termed as additive manufacturing (AM), pertains to methods used to generate a three dimensional object. These objects can be of nearly any geometry or shape and are developed using electronic data source like Additive Manufacturing File (AMF) or using digital model data form a 3D model. This novel technology of 3D printing of parts has come up with potentiality of completely transforming the process by which enterprises created new products, which includes parts for aerospace and defense. The latest 3D printing equipment has developed to an extent that it is capable of creating complicated elements amongst various types of materials such as steel, titanium, different variation of plastic and even aluminum. Therefore, owing to its potential, 3D printing is garnering major importance in several fabricating and manufacturing sectors.

In 2017, the global aerospace 3D printing market is estimated at USD 714.5 million and is projected to grow to USD 3,057.9 million, thereby registering itself at a substantial CAGR of 27.4% during the forecast period. The primary factor responsible for just massive growth of this market industry in the future is the escalating trend of miniaturization of jet engines. The reason for the widespread nature of miniaturization of 3D printing methods is the escalated efficiency of fuel and lesser operating cost. Moreover, elevated use of light and small compressor system exempts a substantial amount of fuel owing to the gas turbine which uses pulsed injection of fuel to generate pressure in combustion as well as compressor chamber. Additionally, a pioneering technology known as the actuator is contrived with the help of 3D printing technology which is used in compressor blades that can have a control on the airflow at a speed of more than 700 miles each hour. When the air control is optimized, the stability of the system is predicted to enhance drastically. Besides, a few of market drivers of this industry’s market are accuracy, efficient use of raw materials, less amount of errors at the time of manufacturing of parts and customizable product creation. Furthermore, 3D printing technologies are use to fabricate aircraft engines which are quite small in size.

The key market manufacturers of the global Aerospace 3D Printing Sales Market are AERIA Luxury Interiors, Honeywell International, Airbus, Moog, JBRND, Boeing, Norsk Titanium, Rolls-Royce, GE, Pratt & Whitney, and MTU Aero Engines. Geographically, the global market of this industry has been segmented into regions such as Europe, United States, Japan, China, Southeast Asia, and India. Based on the type of product, the market of this industry is sectioned into titanium alloy, stainless steel, and nickel base superalloy. Lastly, the end user applications of the global aerospace 3D printing sales market are engine body, aircraft parts, and several others.

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