Japan, Japan, Thu, 07 Apr 2022 00:43:30 / Comserve Inc. / -- 3D printing in Aerospace and Defense market is estimated to register a CAGR of over 20% during the forecast period (2022-2031).
3D printing in Aerospace and Defense market is estimated to register a CAGR of over 20% during the forecast period (2022-2031).
- The airline industry is a driving force for the evolution of 3D printing technology in aerospace and defense. Airlines depend on 3D printing to alleviate supply chain constraints, limit warehouse space, and reduce waste materials from traditional manufacturing processes. The increasing use of 3D printing in the aviation industry may lead to growth in the market, in the near future.
- The introduction of advanced technology 3D printers is expected to lead to advancements, in terms of 3D printing capabilities in the aerospace and defense industry, in the coming years.
- Nowadays, ULTEM materials are popular in the aerospace industry, owing to their heat resistance properties. Companies are making use of ULTEM materials to manufacture the inner shell for freezer units, which contain all the necessary mounting structures. Thus, an advancement in ULTEM materials is expected to provide growth opportunities for the market, in the near future.
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Key Market Trends
The Aircraft Segment is Projected to Grow at a High Pace
Weight is considered as the most important parameter, at every phase, in the design and development of an aircraft. The low, overall weight of an aircraft can result in less fuel consumption. Airlines operate at low-profit-margin and, hence, prefer aircraft that are fuel-efficient. Newer generation aircraft are highly fuel-efficient, due to the use of advanced materials to develop the components, parts, and overall airframe, without compromising on the strength and aerodynamics of an aircraft. For instance, Lockheed Martin Corporation and Arconic announced a two-year joint development agreement (JDA), in order to develop the next generation, advanced manufacturing processes and advanced materials. The two companies have planned to develop customized lightweight material systems and advanced manufacturing processes, like metal 3D printing, to advance current and next-generation aerospace and defense solutions. Due to the aforementioned factors, airlines are procuring newer generation aircraft, which may simultaneously drive the growth of the additive manufacturing sector. As of 2018, the aircraft segment holds the major share in the 3D printing for aerospace and defense market.
North America is Expected to Witness the Highest Growth
The North America region is expected record an increased growth in the market, during the forecast period. The Aerospace 3D printing market may witness an increase in the coming years, owing to the approval of the Federal Aviation Administration (FAA), as well as the European Aviation Safety Agency, toward the usage of more 3D printed parts for commercial jet engines. Developments by companies, such as GE and the Boeing Company, may propel the growth of 3D printing in North American. GE additive, as well as GE aviation, reported that they have received approval from the FAA for the first 3D printed parts, which are expected to be installed in the Genx – 2B commercial jet engines. Additionally, power door opening system (PDOS) brackets developed by GE have entered into mass production, and may be manufactured using the GE Additive Concept Laser M2 cruising multi-laser machines. Thus, the aforementioned developments may lead to a growth in aerospace 3D printing in North America and have a positive impact on the growth of the market.
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The 3D printing in aerospace and defense market is fragmented, with a presence of several players in the market. Stratasys Ltd and 3D Systems Corporation are some of the prominent players in the market. According to 2018 second quarter financial statements of Stratasys Ltd, there has been an increase in the investments in R&D, tools, materials, and additional resources, which are aimed at expanding addressable markets, by accelerating development efforts for the new metal additive manufacturing platform. Various initiatives, as well as product innovations, undertaken by Stratasys Ltd and 3D Systems Corporation have strengthened their presence in the market. In 2015, 3D Systems Corporation and US Army Research Laboratory (ARL) signed a partnership to jointly develop 3D printing technology and materials for aerospace, medical, automotive, and defense applications, at the Army's Aberdeen proving grounds.
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