Published on : Feb 26, 2018
ALBANY, New York, Feb 26, 2018: The market scenario portrayed in this report deals with many parameters such as key market propellers, competitive landscape, market growth obstacles, regional spread, main segments, and several other aspects. The global aerospace 3D printing market is expected to experience a rapid growth along with a CAGR of 56% measured during the forecast period. A key region of this growth is due to the rising trend miniaturization of jet engines, which is compelling the need for airplane parts having specific sizes. The prime factors behind choosing miniaturized engines involves saving a considerable amount of fuel as well as operational costs. The ongoing innovations behind manufacturing new 3D printed aircraft products along with associated techniques also are few other factors that are promoting the global commercial aerospace market’s growth.
A key market trend observed in the global commercial aerospace 3D printing market involves combining 3D printing with traditional printing. Through this combination, researchers as well as manufacturers are expecting greater profitability by applying this technique for the commercial aerospace sector.
One of the most significant challenges for the global commercial aerospace market involves presence of several large parts and other components. It may prove to be difficult to print all the parts, according what the current technology offers, which deals with producing only small parts and components. However, several researchers and manufacturing companies are extensively working on developing innovative technologies, by which one day large parts can also be efficiently manufactured in the global commercial aerospace 3D printing industry.
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The global commercial aerospace 3D printing market is divided into several segments depending on 3 criteria: material type, aircraft parts, applications and regional extent. Based on the aircraft parts criteria, the global commercial aerospace 3D Printing Market has its leading segment in the form of aircraft components. This segment recorded its leading market share at 2015, and is expected to continue dominating the market in the next few years. Such a high market share is mainly expected due to continuous innovations taking place, which can lead towards substantial breakthroughs. Increasing demand for lightweight and smaller engine components also is another factor that is contributing towards high market shares to be recorded.
With regards to the geographical spread, the global commercial aerospace 3D printing market has a considerable presence in North America, South America, Asia Pacific excluding Japan (APEC), Europe, and the Middle East and Africa. Amongst all these regions, North America lead the market with maximum shares in 2015. Countries from this region are expected to do the same even in future, thus becoming a dominant region as per geographical analysis. Such a dominating stance is expected due to the improvement in 3D printing research in North America, and how it can be used for various applications, including making of commercial aircraft parts and components.
With regards to a competitive landscape, the global aerospace 3D printing market is still in its nascent stage. Much focus is given on developing technologies and processes for efficiently carrying out the processes, rather than commercially producing aircraft parts. Although key market players are highly interested in investing for the 3D printing business, the market still has a long way to go in order to depict a substantially tough competition. With new entrants expected to get established in this industry, the array of components manufactured and parts manufactured is likely to increase all over the globe. Few key players in the global commercial aerospace 3D printing market are: EOS, ExOne, Materialise, Arconic, Arcam, Stratasys, and several more.
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