The Aerospace and Defense 3D printing market is projected to grow at a CAGR of 24.10% to reach the market size of US$6,477.205 million by 2024 from US$1,772.905 million in 2018. The growth of the market is attributed to a significant increase in the fleet requirements of numerous airline companies coupled with rising demand for lighter aircraft parts and components. Furthermore, the aerospace industry is witnessing rapid changes in the technology which is mainly targeted towards lightweight high-quality products and reduced production time in order to further reduce the manufacturing cost of the aircraft.
Furthermore, growing investment in the defense sector in order to keep advanced technology is also expected to propel the aerospace and defense 3D printing market on account of growing security threats in many countries.
The Aerospace and Defense 3D Printing Market – Forecasts from 2019 to 2024 is an exhaustive study that presents the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by component, technology, and geography.
The market has been segemented by component, technology, and geography. Based on component the market has been segmented into hardware, software, services, and material. By technology, the market has been classified into vat photopolymerization, metal extrusion, material jetting, binder jetting, direct energy deposition, powder bed fusion, and sheet lamination.
By component, the materials segment is projected to hold a significant share in the market on account of increasing adoption of 3D printing for manufacturing of numerous components and parts of the aircraft. However, the technological advancements and the development of new materials to be used for the printing of new components further shows the growth potential of the market in the coming years.
Geographically, North America is estimated to hold a noteworthy share as the region is an early adopter of technology coupled with well-established infrastructure. Similarly, this region is projected to grow at a substantial rate owing to presence of key players in the aerospace and defense industry region such as Bombardier, and Boeing among others.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these regions present for the manufacturers and the service providers.
Major players in the aerospace and defense 3D printing market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the aerospace and defense 3D printing market.
The Aerospace and Defense 3D printing market have been analyzed through the following segments: