The report" Aerospace 3D Printing" Market by Offerings (Printers, Services, Materials, and Software), Technology (Powder Bed Fusion, Polymerization, Fusion Deposition Modeling (FDM), and Others), Platform (UAVs, Aircraft, and Spacecraft), End Product (Structural Components, Engine Components, and Others), and Applications (Tooling, Prototyping, and Functional Part)- Global Forecast to 2030. "The Aerospace 3D Printing Market is most likely to account for up to USD 9.27 bn by 2030 from USD 1.47 bn in 2020, at a CAGR of 20.23% over the duration period. The most significant factors that are accelerating the overall growth of the market are the continuously rising demand for lightweight components, the lower rate of production of aircraft components in the aerospace industry, and the higher requirement for rapid 3D prototyping.
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By Offerings, the 'Printers' accounted for the most significant share of the market in 2020
Based on Offerings, the Aerospace 3D Printing industry worldwide has been broadly fragmented into Printers, Services, Materials, and Software. The 'Printers' segment dominated the market with almost 39.23% of the market share in 2020. The rise in the need for cost-efficient custom printings and their manufacturing across the globe are the factors that are driving the overall growth of this segment.
By Technology, the 'Fusion Deposition Modeling (FDM)' segment held the largest market share significantly in 2020
Based on Technology, the Aerospace 3D Printing industry worldwide has been broadly fragmented into Powder Bed Fusion, Polymerization, Fusion Deposition Modeling (FDM), and Others. The 'Fusion Deposition Modeling (FDM)' segment comprehensively held the highest share of the market in 2020 with a steady CAGR throughout the forecasted period. The ability of this technology in the manufacturing of complex shapes with a variety of textures, colours, and thickness are some of the main factors that are expediting the overall growth of this segment.
By Platform, the 'Aircraft' segment dominated the market with the highest percentage of share in 2020
Based on the Platform, the Aerospace 3D Printing industry worldwide has been segregated into UAVs, Aircraft, and Spacecraft. The 'Aircraft' segment held the highest market share of nearly 79.23 % of the entire market in 2020. The rising prevalence in need for lightweight and cost-efficient aircraft as well as for fast manufacturing of the complex parts of the aircraft is propelling the overall growth of this segment during the forecasted period.
By End Product, the 'Engine Components' segment held the largest market share in 2020.
Based on End Product, the Aerospace 3D Printing industry worldwide has been segregated into Structural Components, Engine Components, and Others. The 'Engine Components' segment dominated the market significantly with the most significant amount of share in 2020. Ease of designing, lightweight, improved strength, cost-effectiveness, and strong durability of the components manufactured are some of the most significant factors that are simulating the overall market growth.
By Applications, the 'Engine 'Functional Parts' segment held the largest amount of market share in 2020.
Based on Applications, the Aerospace 3D Printing industry worldwide has been segregated into Tooling, Prototyping, and Functional Parts. The 'Functional Parts' segment held the most dominant market share during the estimated period because of the continuous increase in the adoption of 3D printing technologies into manufacturing processes across industries across the world.
North America accounted for the most significant share with approximately 45.72% of the entire market in 2020, along with a total CAGR of 18.73% over the forecasted period of 2020-2030. The USA is the world's largest manufacturing hub of the aerospace industry. The rise in 3D printing technologies for the manufacturing of lightweight and complicated 3D components is one of the main reasons that are augmenting the overall growth of the market in this region.
The Asia-Pacific (APAC) region held the fastest rate of growth throughout the estimated period because of the effort of the Tier 1 players to capture the Aerospace 3D Printing Market from countries like India and China, and the continuous rise in the number of OEMs
The major vendors in the Global Aerospace 3D Printing Market include 3D Systems Corporation, EOS GmbH, Stratasys Ltd., Norsk Titanium AS, EnvisionTec GmbH, Aerojet Rocketdyne, Ultimaker B.V, Arcam AB, The Exone Company, and Safran SA.
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