Published on : Dec 11, 2017
ALBANY, New York, December 11, 2017: ResearchMoz.us has added a market study, titled “Metallurgy Additive Manufacturing for Aerospace: Market Shares, Strategies, and Forecasts, Worldwide, 2017 to 2023,” to its database. The report examines and forecasts the market both at the global and local level. It examines the different drivers and restraints shaping the trajectory of the market and brings to the fore the opportunities in it. It estimates its current and future size vis-à-vis revenue and the current and future competitive dynamics as well.
The report uncovers that the global metallic additive manufacturing for aerospace market was valued at US$1.9 bn in 2016, and will likely reach a value of US$20.9 bn by 2024 by expanding at solid pace.
The main unique perceived benefit of metal additive manufacturing, popularly known as 3D printing, is that they enable creating complex parts easily. It functions by transferring digital data to a machine which then recreates the component. Metal additive manufacturing produces three-dimensional parts layer by layer from a metal.
Traditional manufacturing processes cannot achieve the same and often lead to design constraints. Additive manufacturing provides an opportunity to rethink the design of a product completely, transforming its functionality and bringing down the complicacies involved in manufacturing it. This disruptive technology is decidedly transformational.
The market for metallurgy additive manufacturing for aerospace is expected to be stoked by the economies of scale accomplished by producing metal parts in layers instead of using cutting. This will lower manufacturing costs. Coherent designs are also bringing about growth.
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Another significant advantage of additive manufacturing is that they help to make repairs of expensive parts in the aerospace as well as automotive industries, and thus save the cost of replacing them. Sometimes, it so happens that enormous automotive molds show imperfections when put into service. Instead of doing away with them, which can lead to losses to the tune of millions, it’s possible to salvage them at just a fraction of the cost by leveraging laser 3D printing to selectively add material having far better properties than conventional welding. It can be carried out in case of broke, worn, or flawed parts, thereby reducing both production downtime and costs.
A noticeable positive trend in the market is the focus of aerospace companies and government programs on the progress of metal 3D printing for aerospace engine applications.
Currently the market for metallurgy additive manufacturing for aerospace is in a nascent stage. With an airline industry that is struggling to achieve topline growth by reducing manufacturing costs and other operational costs and improving passenger counts, it is primed to soar in the near future.
Some of the key players in the global market for metallurgy additive manufacturing for aerospace are Bright Laser Technologies, 3D Systems/Boeing, GE/Concept Laser/Arcam, SpaceX, and Aerojet Rocketdyne. The report examines their product offerings, sales and revenues, market shares, key strategies, and prospects going forward. It also makes use of market-leading analytical tools to find out the opportunities and threats the players need to be mindful of while charting growth maps. With the help of tables and figures, it presents important information so that it becomes easy for stakeholders in the market to spot trends and gather crucial information.
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