Pune, India -- (SBWIRE) -- 04/25/2018 -- Market Highlights:
The global aerospace additive manufacturing market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of aerospace additive manufacturing will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2017 -2023).
The expansion of the aircraft fleets, which has resulted in the development of a set of aerospace additive manufacturing market. The increased focus of manufacturers on aerospace additive manufacturing will lead to an increase in the use of aircraft component, due to which there will be growth in aerospace additive manufacturing market. The expansion of the existing aircraft fleets along with the launch of new airlines would result in increased aerospace additive manufacturing the forthcoming years. Hence, it is expected that the rapid fleet expansion would eventually drive the aerospace additive manufacturing market. Moreover, growth in aerospace additive manufacturing in aircraft industries will drive the growth of aerospace additive manufacturing market.
Aerospace additive manufacturing is gaining acceptance as latest manufacturing technology in the aircraft industry. This enables faster response to adaptation to the dynamic technological advances in the industry. Such cut-throat competition in the military systems requires massive investments at a regular basis, thus the high capital investment in the aerospace additive manufacturing market is expected to act as a hurdle in the growth of the market.
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Industry/ Innovation/ Related News:
March, 2018 – EOS announced the sale of two of its flagship printers to Morf3D, a cutting-edge additive design, and manufacturing company. EOS technology would be used by Morf3D to manufacture the flight hardware for Boeing and Honeywell.
September, 2017 – Arcam AB have opened state-of-the-art powder manufacturing facility in Quebec, Canada.
October, 2015 – 3D Systems in collaboration with Pennsylvania State University to support operations in Center for Innovative Materials Processing, which served as the official additive manufacturing demonstration facility for the U.S. Defense Advanced Research Projects Agency (DARPA).
Aerospace Additive Manufacturing Market – Segmentation
The global aerospace additive manufacturing market is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology : Comprises 3D Printing, Laser Sintering, Stereo Lithography, Fused Deposition Modelling and Electron Beam Melting
Segmentation by Vertical : Comprises Materials and Printers
Segmentation by Industry : Comprises Aircraft, UAV, Spacecraft
Segmentation by Materials Application: Comprises Engine, Structural and Space Components
Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Aerospace Additive Manufacturing Market: Regional Analysis
North America market is dominating the market of aerospace additive manufacturing market due to high adoption rate of 3D printing technology. The market in the developed countries is largely driven by growing demand for light-weight components, which helps in growth of aerospace additive manufacturing market.
Asia Pacific is referred to as the second-largest aerospace additive manufacturing market due to factors such as increased investment in the latest manufacturing technology have fuelled the demand for aerospace additive manufacturing market.
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