Stratview Research experts have done an extensive study of data from different sources and have analyzed them to come up with the Aerospace 3D Printing Market report. The report offers insight into the current market trend and the future estimations.

The report on Aerospace 3D Printing Market, published on Dec 2019 by Stratview Research, will showcase the market trend of 2014-2019 and forecast period of 2020-2027.

The history of 3D printing in the aerospace industry traces back to 1988 with some A&D companies beginning experimentation with the technology. Over the years, the adoption of 3D printing technology in the aerospace industry has increased owing to its benefits such as fabrication of parts with complex geometries, reduced weight, less scrap, and on-site part fabrication. Currently, the penetration of the 3D-printing technology in the aerospace industry is at nascent stage (<1%) but is subjected to grow at the highest rate among all the technologies (3D printing, AFP, ATL, compression molding, casting, etc.) in the foreseen future, assisting the technology to gain strong foothold in the aerospace industry.

The aerospace industry currently accounts for a share of 16.8% of the 3D-printing market and is likely to grow at a fast rate in years to come, generating huge growth opportunities for the market participants. Both aircraft as well as engine manufacturers, have eagerly been relying on the technology in order to develop lightweight parts.

As per Stratview Research, the Aerospace 3D Printing Market is likely to experience excellent growth over the next seven years to reach an estimated value of US$ 6,717.4 million in 2027. Increasing production rates of the best-selling aircraft programs such as A320 and B787, Introduction of fuel-efficient variants of aircraft programs such as B777x and A320neo, Growing satellite industry, Increasing production of LEAP engines, Exceptional benefits of 3D printing technologies across the supply chain of the aerospace industry, Advancements in 3D printing technologies.

The supply chain of this market comprises raw material suppliers, 3D printer manufacturers, tier players, engine and aircraft OEMs, and airlines. The key players in the aerospace 3D printing market are 3D Systems Corporation, EnvisionTEC GmbH, EOS GmbH, GE Aviation, Hoganas AB, Materialise NV, Oerlikon Group, Renishaw plc, Stratasys Ltd., and The Trumpf Group. New product development, regional expansion, and long-term relation with customers are some of the key strategies adopted by the major players to gain a competitive edge in the market.

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The market is witnessing a consequential number of strategic collaborations/partnerships to develop mainstream applications. For instance, Norsk Titanium, a Norway-based company, has collaborated with NDTL, Pratt & Whitney, and TURBOCAM International to develop and test integrally bladed rotor (IBR) via 3D printing to be used within turbine engines. Similarly, Boeing in collaboration with Norsk Titanium is working on titanium structural components for its 787 Dreamliner jet.

The aerospace 3D printing market is segmented based on the vertical type as hardware, software, material, and services. The services segment is expected to witness the highest growth in the aerospace 3D printing market during the forecast period, owing to the use of a wide range of materials to print engine and structural components. Furthermore, the development of new materials to 3D print components to withstand high temperatures and extreme environment is likely to boost the demand for 3D-printing materials in the years to come. Major aircraft manufacturers, such as Boeing and Airbus, are expediting the adoption of this technology in order to achieve the faster production process, to reduce the wastage, and to shorten the supply chain.

In terms of regions, North America is expected to remain the largest market for aerospace 3D printing during the forecast period. The region is the world’s manufacturing capital of the aerospace industry with the presence of many large-to small-sized OEMs, tier players, and raw material suppliers. Major 3D printer manufacturers are also located in the region to cater to the growing regional demand for 3D printers as well as materials. Asia-Pacific is estimated to be the fastest-growing aerospace 3D printing market in the same period, primarily driven by an increasing presence of OEMs and tier players to tap the growing demand from the key economies such as China, Japan, and India.

Salient Features of the Report
The Stratview Report will offer you a detailed view the growth of the Aerospace 3D Printing Market and the future prospects of the market. Here are the key features of the report:
· Strategic Segmentation
· Competitive Analysis
· Strategic Growth Opportunities
· Swot Analysis
· Key Players
· Forecast Analysis & Future Growth