Description
Additive Manufacturing (AM) is the process that can build a three-dimensional object based on a CAD digital model. AM uses an ‘additive’ process, where an object is built by applying materials in successive layers as per the CAD design. Unlike the conventional manufacturing, which involves ‘subtractive’ process (e.g., cutting, drilling, milling) and forming (bending, shaping), the AM process requires minimum or no tooling to build the finished product. The aerospace industry is one of the early adopters of additive manufacturing technology. The major milestone for the increased adoption of AM in the aerospace industry has been the increased penetration of improved metal-based AM system since 2011. These industrial grade AM systems provide relatively better advantages regarding build speed, cost, and materials rationalization.
Moreover, AM is regarded as the disruptive force that will lead the future of manufacturing, as it offers new ground for innovation, logistical advantages, and on-demand product manufacturing capability. Many governments, worldwide, are pushing to strengthen the competitiveness and productivity of high-tech manufacturing, and have launched several initiatives to promote the AM industry. U.S. is leading in terms of AM technology and market demand. U.S. has also set up various initiatives (e.g., National Additive Manufacturing Innovation Institute) to encourage the adoption of AM in U.S. manufacturing. Germany, Israel, China, Japan, U.K, South Africa, and Singapore are also investing heavily in promoting AM technology. These countries have committed hundreds of millions of dollars to establish AM R&D facilities, and commercialize the AM market potential for various industrial applications, including aerospace. Focus on reducing carbon footprint through aircraft weight reduction, focus on green manufacturing, and high efficiency of AM in the manufacture of complex aerospace parts are the major drivers of the aerospace additive manufacturing market. Similarly, technological advances in AM materials, rising military spending coupled with the demand for lightweight combat aircraft, increase in passenger traffic and demand for modern aircraft, and benefits of AM in drone component manufacturing are the opportunities for this market. Whereas, the high cost of AM materials is the restraint of this market.
Regional Analysis
The global aerospace additive manufacturing market is estimated to witness 20.24% CAGR during the forecast period, 2018-2023. In 2018, the market was led by North America with 38.86% share, followed by Europe and Asia-Pacific with shares of 24.17% and 20.64%, respectively. North America is the fastest growing region for aerospace additive manufacturing market. The market growth is significantly driven by major countries, such as the U.S. and Canada, due to the presence of chief manufacturers in this region. The U.S. has an advanced aerospace manufacturing base and spends a substantial amount on large R&D projects. However, the traditional manufacturing base is slowly shifting towards the APAC region, because of competitive and low-cost manufacturing capability in APAC. AM provides an important opportunity for the U.S. to develop high-tech manufacturing capability and revive the competitiveness and market potential of the U.S. manufacturing industry. Despite the current limitations of AM in terms of large-scale production capability, it provides unique opportunities to the aerospace sector, mainly to produce low-volume and highly complex products. Many companies have realized the superior benefits of AM in comparison to conventional manufacturing, and have employed AM to achieve supply chain efficiencies and reduced time-to-market. As a result, AM has received the much-needed attention in policy as well as manufacturing circles in the U.S. The White House Office of Science and Technology, Department of Commerce, the National Science Foundation, and the Department of Energy, have formed a working group, to advance the AM technology in the U.S. The U.S. government and NIST (National Institute of Standards and Technology) are further working to enhance AM systems, process optimization, materials characterization, and standards development. ‘America Makes,’ formerly NAMII (National Additive Manufacturing Innovative Institute) is another major initiative to develop AM sector in the U.S. ‘America Makes’ is a billion-dollar initiative to strengthen the U.S. manufacturing competitiveness.
Key Players
Arcam AB (Sweden), CRS Holdings Inc. (U.S.), Concept laser GmbH (Germany), CRP Technology S.r.l (Italy), 3D Systems (U.S.), EOS (Germany), ExOne (U.S.), SLM Solutions Group AG (Germany), Stratasys Ltd. (U.S.), and Optomec (U.S.) are some of the key players profiled in this report. The aerospace additive manufacturing market is dominated by top five players, namely Stratasys, EOS, GE Additive (inc. Acram & other affiliated companies), 3D Systems, and ExOne, accounting for more than 75% of the global market size.
Objective of the Global Aerospace Additive Manufacturing Market Report – Forecast to 2023
• To provide insights into factors influencing the market growth
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their key countries
• To provide historical and forecast revenue of the market segments based on platform, application, material type, technology, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
Target Audience
• Aircraft, UAV & Spacecraft OEMs
• Engine & other component manufacturers
• Raw material providers
• Investment Agencies
• Government & Regulatory Authorities
Key Findings
• The global aerospace additive manufacturing market in this report has been segmented by platform into aircraft, unmanned aerial vehicle, and spacecraft. The unmanned aerial vehicle segment market is projected to register the highest CAGR of 20.64% during the forecast period.
• The global aerospace additive manufacturing market has been segmented, by application, into three, namely, engine, structural, and others. The engine segment market is projected to register the highest CAGR of 20.43% during the forecast period.
• The global aerospace additive manufacturing market in this report has been segmented by material type into four, namely, metal alloy, plastic, rubber, and others. The metal alloy segment market is projected to register the highest CAGR of 20.65% during the forecast period.
• The global aerospace additive manufacturing market in this report has been segmented by technology into five, namely, 3D printing, laser sintering, fused deposition modeling, electron beam melting, and stereolithography. The 3D printing segment market is projected to register the highest CAGR of 22.60% during the forecast period.
• North America would dominate the aerospace additive manufacturing market by 2023. It is expected to register a CAGR of 21.64% during the forecast period. It is expected to reach a market size of USD 906.7 million by 2023.
The regional analysis also includes:
• North America
o U.S.
o Canada
• Europe
o U.K
o France
o Germany
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East & Africa
o Israel
o UAE
o Saudi Arabia
o Rest of Middle East & Africa
• Latin America
o Brazil
o Mexico
o Rest of Latin America
