3D Printing in Aerospace and Defense Market Size is projected to reach USD 8.66 Billion by 2030, growing at a CAGR of 26.1%: Straits Research

New York, United States, Aug. 28, 2023 (GLOBE NEWSWIRE) -- 3D printing or additive manufacturing refers to the process in which material is deposited, combined, or solidified under computer control to construct a three-dimensional solid object from a digital file. 3D printing has made the design and integrations of components faster, less expensive, and simpler throughout the years. The increased acceptance of 3D-printed parts in aerospace supply chains and the advantages of 3D printing, notably the decrease in processing and manufacturing costs, mainly drive the market expansion.

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Reduction of Processing and Manufacturing Cost Spurs the Demand for 3D Printing in the Aerospace and Defense Industry

Component design and implementation are now more efficient, affordable, and straightforward due to 3D printing. It has also enabled the incorporation of all components into a single structure, eliminating the need for external joints, adhesives, and fasteners. This reduction of unnecessary components avoids further manufacturing expenses.

The aviation sector has become a driving force in this technology's progress. 3D printing is utilized by airlines to alleviate supply chain limitations, minimize warehouse space, and reduce traditional manufacturing waste. Larger-scale aircraft manufacture is indirectly dependent on 3D printing. Since 3D printing is faster and better prepared to produce complicated pieces, it is frequently utilized as a master blueprint for urethane casting of big aircraft interior components.

Since 3D printing involves the addition of material rather than its subtraction, it significantly reduces industrial waste. According to Airbus, 3D-printed components reduce weight and inefficiency while increasing component strength. Additionally, the technique substantially decreases production time and waste, with an average of 5% of waste material produced during the process. This waste reduction could result in substantial cost reductions during manufacturing. The rapid fabrication of aircraft parts also saves significant space, time, and money. These advantages collectively drive the adoption of 3D printing in the aircraft industry.

Increasing Use of ULTEM Materials and Focus on Greener Aircraft Provides Tremendous Scope for Growth `

Due to its heat resistance, ULTEM materials are gaining popularity in the aerospace sector. Companies are increasingly utilizing ULTEM materials to produce the inner shells that comprise all required mounting components. The development of ULTEM materials is anticipated to create future market expansion prospects.

In addition, 3D printing uses may continue to expand in the future. As some technical solutions are too complex to be made by conventional machining procedures, which hinders the adoption of these solutions, the emphasis on greener aircraft may also benefit from 3D printing's capabilities. 3D printing can overcome these problems and aid in disseminating creative solutions. Furthermore, developing technologies like Urban Air Mobility may be among the first big adopters of 3D printing. The technology is predicted to mature around the time these technologies enter their commercialization phase. These aspects present lucrative growth prospects for the industry.

Report Scope

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Regional Insights

Europe commands the market and is estimated to grow at a CAGR of 24.4% during the forecast period. The UK is a center for the research and development of innovative materials for the aerospace industry, and the existence of numerous aerospace incumbents generates a consistent demand for advanced composites. Consequently, regional subsidiaries of the top worldwide market participants are expanding their capabilities by supporting organic and inorganic growth. Collins Aerospace, a division of Raytheon Technologies Corporation, announced in February 2021 an investment in a new multi-axis composite braider for its Banbury location. The company has also cooperated with Composite Integration, Crompton Mouldings, and Bitrez to assist the production of next-generation continuous fiber-reinforced components with complicated shapes, emphasizing system simplification, weight reduction, and cost competitiveness. During the projected year, these changes are anticipated to provide a favorable picture for the British market.

North America is expected to grow at a CAGR of 25.2%. The presence of key industry players and customers, such as Boeing, Lockheed Martin, and NASA, has embraced 3D printing technology, boosting the market demand. Boeing has been a strong contender in the 3D printing area for some time, particularly in the territory of satellites, creating the first 3D-printed antennae in 2019. Boeing also had tremendous success using AM technology to print components of its SES-15 satellite.

Infrastructure investment by industry players and backing by local authorities towards such technology improvement has played a vital part in assisting the United States to achieve the biggest market share over the following years. For instance, in September 2021, Terran Orbital, a nano and microsatellite producer, announced a USD 300 million investment in one of Florida's largest commercial spacecraft facilities. The facility is spread across 660,000 sq ft. of the area and leverages a range of 3D printing technologies, allowing the facility to manufacture thousands of space components in a year. Such developments give an optimistic prognosis for the market in the US.

Asia-Pacific is the third-largest region. The Chinese government has designated the development of aeronautical equipment and 3D printing as important growth drivers for Chinese manufacturing industries under the Made in China 2025 vision. The rapidly expanding market potential motivates industry participants to develop strategic collaborations and enhance their Chinese production capacities. Kaneka Aerospace LLC, a wholly-owned subsidiary of Kaneka Americas Holding Inc., announced its partnership with Shanghai Huazheng Composites Co. Ltd in August 2021 to expand its footprint in China's expanding composites market. Kaneka Aerospace produces specialist high-performance composite materials for a wide range of sectors. Such advancements could provide a favorable outlook for the Chinese market during the predicted period.

Key Highlights

Competitive Landscape

Key players in the global 3D printing in aerospace and defense market are Aerojet Rocketdyne Holdings Inc, MTU Aero Engines AG, Moog Inc., Safran SA, GE Aviation, The Boeing Company, Airbus SE, Samuel, Son & Co., Raytheon Technologies Corporation, Honeywell International Inc., American Additive Manufacturing LLC, and Lockheed Martin Corporation .

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Global 3D Printing in Aerospace and Defense Market: Segmentation

By Application

By Material

By Regions

TABLE OF CONTENT

Table of Content and Figure @ https://straitsresearch.com/report/3d-printing-in-aerospace-and-defense-market/toc

Market News

News Media

Global 3D Printing Plastics Market Extends at a Healthy CAGR of 22.45% by 2030

Global 3D Printing Software and Services Market Grows at a Staggering CAGR of 23.7%

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