Global 3D Printing in Aerospace and Defense Market (2021 to 2026) – Growth, Trends, COVID-19 Impact and Forecasts

DUBLIN, January 17, 2022–(BUSINESS WIRE)–The “3D Printing in Aerospace and Defense Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.

The 3D Printing in Aerospace and Defense Market was valued at USD 1074.72 million in 2020 and is anticipated to register a CAGR of 25.9% to reach a market value of USD 6060.8 million by 2026.

Companies Mentioned

  • Aerojet Rocketdyne Holdings Inc

  • MTU Aero Engines AG

  • Moog Inc.

  • Safran SA

  • GE Aviation

  • The Boeing Company

  • Airbus SE

  • Samuel, Son & Co.

  • Raytheon Technologies Corporation

  • Honeywell International Inc.

  • American Additive Manufacturing LLC

  • Lockheed Martin Corporation

Key Market Trends

The Aircraft Segment is Projected to Dominate the Market During the Forecast Period

The aviation industry, along with the manufacturing and logistics hubs, suffered a significant loss during 2019-2020 due to the sudden pandemic outbreak. Nevertheless, the industry is expected to recover during the forecast period. According to the International Air Transport Association (IATA), passenger traffic will recover to pre-covid levels by 2023. This is expected to drive the procurement of new aircraft, as well as the demand for aircraft aftermarket parts.

The aggressive growth opportunities and increasing backlogs due to slow manufacturing capabilities due to the lack of technological integration have forced the aircraft OEMs to focus on the usage of novel 3D printing technologies that are expected to reduce time and money by automating and increasing the operational efficiency of manufacturing. Several aircraft OEMs are adopting the 3D printed parts in their aircraft models.

For instance, in March 2021, Stratasys has been awarded a contract extension by Airbus for the production of 3D printed polymer components for the aircraft cabin interiors. While the previous contract was only for the A350 aircraft, the renewal includes the production of parts for several more aircraft platforms, as well as spare part production. In addition to A350, the company will now supply parts for installation on the A300, A330, A340 and A320 aircraft platforms.

Furthermore, the aging aircraft fleet within the military segment and demand generation of replacing military aircraft with mordent fleet has overcome years and has generated considerable market potential. Aircraft manufacturers are aware of the increasing demand for new aircraft and actively investing in 3D printing technologies within the manufacturing segment, which is expected to drive the growth of the segment in the years to come.

Asia-Pacific is Expected to Witness the Highest Growth

The Asia-Pacific region is expected to record the highest growth in the market during the forecast period. Countries like China, India, Japan South Korea, etc., are investing in the R&D of 3D printing technologies, aimed at increasing their adoption in the Aerospace sector. Under China’s Made in China 2025 master plan, the Chinese government has earmarked the development of aerospace equipment and 3D printing as key growth drivers of Chinese manufacturing industries.

The country’s latest C919 commercial airliner is built using several 3D printed components, paving the way for greater adoption of 3D printing technologies in the country. The C919 uses 3D printed titanium parts, 28 cabin door parts, and two fan inlet structural parts to reduce the airliner weight and increase its safety. In the space sector, China successfully launched an indigenously developed space 3D printer onboard a Long March 5B rocket in 2020. The 3D printer was designed by the China Academy of Space Technology (CAST), and it completed the first 3D printing tests in the microgravity of space.

On the other hand, India is gradually increasing its focus on the utilization of 3D printing technology, with startups springing up in cities like Bangalore, Chennai, Mumbai, Visakhapatnam, etc., to produce essential parts for the aerospace and defense sector. The clientele includes the Indian Navy, Air Force, Indian Space Research Organisation (ISRO), and Hindustan Aeronautics Limited (HAL).

Japan-based aerospace firms are also strongly advocating the use of 3D printing technologies as they result in minimum wastage of materials and are therefore in line with their lean manufacturing principles. Japanese firms, including IHI and MHI, are keenly adopting 3D printing technologies to foster their design and production capabilities for the A&D sector. Such developments are expected to drive the growth of the market in the region during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Porter’s Five Forces Analysis

5 MARKET SEGMENTATION (Market Size by Value – USD million)

5.1 Application

5.2 Material

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/cap4oj

View source version on businesswire.com: https://www.businesswire.com/news/home/20220117005489/en/

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