Published on : Dec 13, 2016
ALBANY, NY, Dec 13, 2016: The report offers essential insights into various critical parameters of the global aerospace 3D printing market including its dynamics, geographical segmentation, and competitive landscape. It profiles the key players in the market along with their business strategies, cost and revenue structures, and latest developments. Primary and secondary research have come into play while compiling this report. As per the findings of the report, the global aerospace 3D printing market is expected to expand at a tremendous CAGR of about 56% from 2016 to 2020.
The global aerospace 3D printing market is driven by the rising trend of miniaturization of jet engines. The primary factors fuelling the need for miniaturization using 3D printing techniques are the reduced operating cost and enhanced fuel efficiency. Additionally, the use of a small and lightweight compressors is helpful in saving a significant amount of fuel. Moreover, 3D printing is being increasingly used in designing aircraft engines that are more lightweight and fuel-efficient.
Furthermore, the convenience involved in printing larger components is increasing the adoption of 3D printing techniques in the aircraft manufacturing. On the other hand, the limited economy of scale and procedural and manufacturing constraints are hampering the growth of the global aerospace 3D printing market. However, the increasing adoption of 3D printing to create screw threads and new-age fasteners is likely to augur well for the growth of the market in the near future.
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On the basis of aircraft parts, the global aerospace 3D printing market is segmented into aircraft components and airframe. The aircraft components represented the lion’s share throughout the forecast period. The burgeoning demand for production of smaller engine and lightweight components is contributing to the growth of the segment. In terms of geography, the key markets are Asia Pacific, the Americas, and the Europe, Middle East, and Africa. The Americas will continue to dominate the market until 2020, owing to the increasing adoption of additive technologies among the original equipment manufacturers (OEMs).
The global aerospace 3D printing market is characterized by high competitive rivalry. In order to compete against prominent companies, small players are adopting joint development efforts as a go-to strategy. New players entering the market are offering a wide range of components and subsystems using the 3D printing manufacturing technology in a financially feasible way. These factors are intensifying the competition in the global market. The leading players are Boeing, Honeywell International, Rolls-Royce, GE, and Airbus. Other prominent companies in the market are JBRND, Norsk Titanium, MTU Aero Engines, Moog, AERIA Luxury Interiors, and Pratt & Whitney.
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