Stratview Research has launched a new report on the Aerospace 3D Printing Market, which is segmented by Product Type, by Application Type, by Material Type, and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
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The Aerospace 3D Printing Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Aerospace 3D Printing is the increasing demand for Aerospace 3D Printing in various industries.
This report on the Aerospace 3D Printing Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Aerospace 3D Printing Market. The report intends to present a thorough analysis of the Aerospace 3D Printing Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Aerospace 3D Printing Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Aerospace 3D Printing Market are-
3D Systems Corporation
EnvisionTEC GmbH
EOS GmbH
GE Aviation
Hoganas AB
Materialise NV
Oerlikon Group
Renishaw plc
Stratasys Ltd.
The Trumpf Group.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Aerospace 3D Printing Market value and growth drivers over the trend period of 2021-27. According to the report -
The aerospace industry accounted for a share of 16.8% of the 3D-printing market in 2021 and is likely to grow at a fast rate in years to come, generating huge growth opportunities for the market participants. Both aircraft, as well as engine manufacturers, have eagerly been relying on the technology in order to develop lightweight parts.
Segment Analysis:
Based on Application Type:
Based on the application type, the market is segmented into engine components, structural components, and space components. The engine components segment has experienced a huge decline in the market in 2021 in the wake of the pandemic. However, all three applications are expected to expand with significant CAGRs over the next five years, owing to an expected recovery in aircraft deliveries coupled with growing penetration of lightweight materials and the development of parts with high precision at reduced time. The engine components segment is projected to witness the highest growth during the same period, driven by a high focus of major engine manufacturers including GE, Pratt & Whitney, and Rolls-Royce to develop engine parts of turbofan engines using the 3D printing technology. GE Additive and Pratt & Whitney prove to be the game changers in the aerospace 3D-printing engine segment in which GE Additive holds the preeminent position.
Based on Region:
Despite there has been a massive decline in the market across the world, North America is expected to remain the largest market for aerospace 3D printing till 2027. The region is the world’s manufacturing capital of the aerospace industry with the presence of many large-to small-sized OEMs, tier players, and raw material suppliers. Major 3D printer manufacturers are also located in the region to cater to the growing regional demand for 3D printers as well as materials. Asia-Pacific is expected to recover at the fastest pace, with impressive growth in the aerospace 3D printing market during the forecast period, primarily driven by an expected early recovery of emerging economies like China and an increasing presence of OEMs and tier players to tap the growing local demand from the key economies, such as China, Japan, and India.
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