Aerospace 3D Printing Market Size, Share, Competitive Landscape and Trend Analysis Report, by Printing Technology, Platform, Application, Delivery and Offering : Global Opportunity Analysis and Industry Forecast, 2021-2030

Aerospace 3D Printing Market Research - 2030

The global aerospace 3D printing market size was valued at $1.38 billion in 2020, and is projected to reach $6.80 billion by 2030, registering a CAGR of 18.4% from 2021 to 2030. 3D printing, also referred to as additive manufacturing, is a process of creating a layer-by-layer three-dimensional object using computer-aided design (CAD) models. Unlike conventional manufacturing techniques, the 3D printing process generates less waste and higher accuracy components.

The 3D printing technology was primarily used for rapid prototyping and concept generation, however, with advancements in material technology, the process has proliferated its scope of operations to manufacturing complex components. The design freedom gained by engineers to print a complex component in one piece with the possibility to replace several small joints and machined parts has generated unprecedented business opportunities within the aerospace vertical.

The ability to print parts in small volumes as and when needed without incurring any additional capital expense due to lower volume notably impacts the supply chain dynamics of the market. Operations such as replacing a small damaged or outdated component while keeping the system intact will soon become a common practice in coming years.

North America includes the U.S., Canada, and Mexico. Aggressive growth rate witnessed in aviation and space industry will contribute to business opportunities of the aerospace 3D printing market. North America is a dominant market for aerospace 3D and has major players offering additive manufacturing solutions. The region occupied a major market share of the global aerospace 3D printing market, due to the presence of major aviation and space organizations such as Boeing, NASA, SpaceX, and GE.

The industry leaders have witnessed potential of 3D printing and have already started investing in the technology. Industry collaborations, long-term agreements, and partnership are among the common business strategies practiced by players operating within the region.

Widespread adoption of 3D printing technologies within the players operating in aerospace segment has supported the growth in the U.S. market. Aircraft and spacecraft manufacturers are entering into partnership to engage additive manufacturing capabilities. For instance, in September 2021, Velo3D Inc. entered a strategic partnership with Launcher to showcase cost-effectiveness of 3D printing in launching satellites in space. The company acquired a Velo3D metal additive manufacturing solution to print Inconel parts. The company further acquired second printer for printing titanium parts.

Asia-Pacific is anticipated to witness a high growth rate for aerospace 3D printing market during the forecast timeframe, fueled by aggressive growth rate of aviation industry. The region is expected to acquire highest number of commercial aircraft over coming years. China will witness the most aggressive growth rate within the aerospace 3D printing market during the forecast timeframe.

The robust growth in aviation sector supported by government initiatives to promote manufacturing sector will drive the market growth in China. Demonstration of product capabilities and exploration of new revenue generation streams are among the primary business strategies practiced by the region. For instance, in May 2020, two 3D-printed samples were received by China Academy of Space Technology (CAST) that were developed in space. The parts were received in capsules and the possibilities of in space manufacturing is being explored by the organization.

The growth of the global aerospace 3D printing market is driven by factors such as increase in demand for lightweight & durable components from the aerospace industry, simplification of complex designs, ease of prototyping, and rapid customization among others.

However, high initial investment and unstable regulatory framework are key factors limiting the business opportunities; however, these challenges are expected to dilute by 2025. This is attributed to the fact that industry stakeholders are engaged in developing new operational strategies to counter costing challenges.

Cloud production and shared production space are expected to emerge as an additive manufacturing trend during the forecast period. Design methodologies of engineers are expected to shift from Design for Additive Manufacturing (DFAM) to embracing design freedom and producing highly complex single-piece components, thus supporting the business trend.

The global aerospace 3D printing market is segmented into printing technology, platform, application, delivery, offering, ad region. By printing technology, the market is segregated into selective laser sintering (SLS), selective laser melting (SLM), binder jetting, fused deposition modeling (FDM), stereolithography (SLA), and others. On the basis of platform, it is categorized into aircraft, unmanned aerial vehicles (UAV), and spacecraft.

Depending on application, it is fragmented into production and pre-production & post-production. As per delivery, it is bifurcated into products and services. According to offering, it is divided into hardware and software. The hardware segment is subsegmented into printer and material. The material segment is further classified into metals & ceramics and thermoplastics.

The metals & ceramics segment is subcategorized into titanium, aluminum, steel, and others, whereas the thermoplastics segment is subsegmented into polycarbonate (PC), acrylonitrile butadiene styrene (ABS), nylon/polyamide, fiber, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Companies have adopted product development, collaboration, and long-term agreements as their key development strategies. The key players operating in this market are Markforged, Liebherr, Stratasys Ltd., Materialise NV, EOS GmbH, 3D Systems Corporation, Honeywell. General Electric, Exone, Norsk Titanium, Renishaw PLC, TrumpF, SLM Solutions, Envisiontec, Inc., Prodways, and Hoganas AB.

Increase In Demand For Lightweight & Durable Aerospace Components

Rise in jet fuel charges and implementation of stringent government regulations on carbon footprint generated by the aviation industry have allowed aircraft manufacturers to explore ways of increasing fuel efficiency. According to IATA, the airline industry is expected to achieve net-zero carbon emissions by 2050.

Reducing the net weight of an aircraft and engine optimization and the primary approach practiced by aircraft manufacturers to improve fuel efficiency and achieve the designated goal. Additive manufacturers allow aircraft manufacturers to leverage the benefits of design optimization and notable weight reduction.

Complex assemblies can be collated into single components using 3D printing technologies, reducing the complexity of the operation and net weight. For instance, the locking shaft of an aircraft door of Airbus A350 was manufactured using additive manufacturing  process, resulting in a 45% of weight reduction, while keeping similar robustness, a 25% reduction in production cost as there was less material usage, material wastage, and assembly time. The approach further resulted in reduction of parts from 10 to 1, minimizing the complexity of the structure and reducing more than 4kg across 16 door shafts. Thus, surge in demand for lightweight & durable aerospace components notably contributes toward the market growth.

Supply Chain Optimization

The outbreak of COVID-19 and its repercussion has forced the world to come up with new ways of sustainable operations. The supply chain being one of the most severely impacted business operations has generated a demand for process optimization. The supply chain within the aerospace industry will witness a huge shift in business operations in the coming years, due to induction of additive manufacturing technologies. The concepts such as on-demand manufacturing, on-site customization, and manufacturing-as-a-service (MaaS) will cause a major market shift in terms of business dynamics. Thus, supply chain optimization acts as a key driving force of the global market.

Limited Regulatory Infrastructure

Additive manufacturing technology was introduced in 1987, but due to several operational limitations, it was not accepted on a commercial front. With advancements in additive manufacturing technology, it witnessed an accelerated acceptance in verticals such as aviation, space, and defense. The sudden increase in acceptance of this technology has created a regulatory gap in its scope of operations.

Companies operating within the verticals of aviation, space, and defense are engaged in innovating novel alloys that can be aligned with the additive manufacturing process. Though these alloys have improved properties, there was no proper regulatory framework catering to additive manufacturing operations. To address the rising concerns, several Standards Developing Organizations (SDOs) such as the American Society for Testing Materials (ASTM), International Organization for Standardization (ISO), and other European Standardization Organizations, including CEN (European Committee for Standardization) and CENELEC (European Committee for Electrotechnical Standardization) have started developing a framework to mitigate the gap. Regular technology transfer session and exhibitions & safety awareness seminars organized by these bodies in collaboration with major industry players are among the initial steps to establish a concrete regulatory framework.

Cloud-based 3d Printing Services

Integration of additive manufacturing technology with cloud management services will serve as a major factor in defining the market potential within the aerospace industry over the coming years. Remote manufacturing & management, optimization of the component on the go, and real-time monitoring are some basic features supported by cloud-based 3D printing services.

Companies offering such services have established their machines in their plants as well as in their dealer network facility. These machines are connected to the cloud and leverage the benefits of Industry 4.0. Furthermore, end users can directly print the required component through their computers by providing the needed input and the machine will start printing their component in real time. Such initiatives will notably reduce operational costs and reduce the time required to complete one cycle of operations. Cost and time reduction of operation and negligible initial investment to avail 3D printing services through pay as you print or subscription model will result in increased market acceptance.

Key Benefits For Stakeholders

• This study presents the analytical depiction of the global aerospace 3D printing market analysis along with the current trends and future estimations to depict imminent investment pockets.

• The overall aerospace 3D printing market opportunity is determined by understanding profitable trends to gain a stronger foothold.

• The report presents information related to the key drivers, restraints, and opportunities of the global aerospace 3D printing market with a detailed impact analysis.
• The current market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• The Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

  Aerospace 3D Printing Market Report Highlights

Aspects	Details
By PRINTING TECHNOLOGY	Selective Laser Sintering (SLS) Selective Laser Melting (SLM) Binder Jetting Fused Deposition Modeling (FDM) Stereolithography (SLA) Others
By PLATFORM	Aircraft Unmanned Aerial Vehicle (UAV) Spacecraft
By APPLICATION	Production Pre-Production & Post-Production
By DELIVERY	Product Service
By OFFERING	Hardware Printer Material Metal and Ceramics Titanium Aluminum Steel Others Thermoplastics Polycarbonate (PC) Acrylonitrile Butadiene Styrene (ABS) Nylon/Polyamide Fiber Others Software
By Region	North America  (U.S., Canada, Mexico) Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe) Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific) LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players	Materialise, ENVISIONTEC, INC., Stratasys Ltd, Norsk Titanium US Inc., EOS GmbH, ExOne, Markforged, 3D Systems, Inc., General Electric, TRUMPF

Analyst Review

3D printing is a promising technology with respect to rapid prototyping and cost reduction for small batch sizes. Moreover, factors such as increased strength and durability of 3D printed components, better surface finish, and optimal material usage make it a lucrative option for the aerospace segment. In addition, remote operations supported by industry players operating within the market have eliminated the requirement of huge capital investment, whereas the players can have benefited from additive manufacturing technology as a service. The market in the developed countries such as the U.S., Germany, and the UK will have a nominal growth rate as compared to the developing nations, including India and South Africa.

The North American and European markets are matured as compared to the Asia-Pacific market. Companies operating within North America and Europe focus on innovation and new product launch to ensure sustainability. The Asia-Pacific market is in the growth phase, and clients within the region are shifting toward additive manufacturing technologies and exploring potential benefits. Companies operating within Asia-Pacific focus on integration of 3D printing technologies in their manufacturing processes to leverage operational benefits and design freedom. Furthermore, they are undergoing collaboration with global players such as EOS and Reinshaw Plc. For instance, in August 2021, EOS announced collaboration with AgniKul Cosmos, India to accelerate in-house 3D printing of rocket engines.

The usage of aerospace 3D printed components has notably increased in the area that needs high customization and design optimizations. The companies such as Honeywell, Boeing, and Airbus are using 3D printing technologies to print complex aircraft engine components. In line with these initiatives, the companies are redefining their supply chain and internal operations to integrate additive manufacturing technologies over the coming years.  

Among the analyzed regions, North America is the highest revenue contributor followed by Europe, Asia-Pacific, and LAMEA. North America is expected to maintain the lead during the forecast period in terms of market share, whereas Asia-Pacific will witness an increased CAGR as compared to other regions.

Author Name(s) : Dhvanil Dave | Lalit Janardhan Katare

Related Tags

• Aviation Software
• Aviation Management
• Unmanned Aerial Vehicles Uavs