Fortune Business Insights in their report titled, “3D Printing in Aerospace Market Size, Share & Industry Analysis, By Vertical (Printers and Materials), By Industry Type (UAV, Aircraft, and Spacecraft), By Application Type (Engine Components, Space Components, and Structural Components), By Printer Technology Type (DMLS, FDM, CLIP, SLA, SLS and Others) and Regional Forecast, 2018-2026,” projects such strategies to promote the overall market growth.
The report offers a comprehensive overview of the 3D Printing in Aerospace Market. It also provides interesting insights into current industry developments namely regulatory scenario in significant nations, company collaborations, and growth drivers and restraints. Additionally, the report also offers SWOT analysis, and price trend analysis, coupled with company profiles and competitive landscape. The report is available for sale on the Fortune Business Insights website.
According to the report, the market is expected to rise from USD 1,359.1 Million to USD 6,745.5 Million with a remarkable CAGR of 22.17% within the forecast period of 2018 to 2026. As per the current 3D Printing in Aerospace Market trends, the Direct Metal Laser Sintering (DMLS) segment will dominate the market, based on printer technology.
This is owing to the fact that they are capable of crafting complex geometrical structures. In addition to that, they have other properties such as corrosion-resistant, good welding characteristics, lightweight metal components, and others that will help this segment generate high revenue in the coming years.
Increasing Demand for Lightweight Vehicle Parts to Promote Market Growth
The weight of the aircraft plays a pivotal role in the designing and development of an aircraft. Lightweight aerospace vehicles consume less fuel than their heavier counterparts. Aircraft that are technologically advanced are highly fuel-efficient because of the use of 3D printed lightweight advanced material namely parts, overall airframe, components, and others without having to compromise on the aerodynamics and strength of the aircraft.
The rise in demand for lightweight vehicle parts from the aerospace industry is estimated to promote the growth of the market in the forecast duration.
In addition, the material made out of 3D printing technology is capable of operating even in extreme temperatures. This is another factor boosting the market for the 3D Printing in the aerospace industry. Furthermore, there is a short supply chain of aerospace components and most of the aircraft manufacturers such as Airbus, and Boeing are likely to adopt 3D technology for achieving the rapid production process in their aircraft. This will further help to shorten the supply chain and reduce wastage, and thus prognosticated to accelerate the growth rate of the market in the forecast duration.
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