AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
LONDON, GREATER LONDON, UK, August 8, 2024 /EINPresswire.com/ -- The aerospace and defense additive manufacturing market is set to expand significantly, growing from $3.62 billion in 2023 to $4.4 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 21.5%. This growth trajectory is driven by factors such as cost reduction, lightweight components, customization, complexity, supply chain optimization, and advancements in materials. The market is anticipated to continue its upward trend, reaching $8.76 billion by 2028, with a CAGR of 18.8%, fueled by increased adoption of additive manufacturing (AM) technology, advancements in material science, complex part production, Industry 4.0 integration, and digital twin implementation.
Increasing Air Passenger Traffic Fuels Market Expansion
The growing air passenger traffic is a crucial driver for the aerospace and defense additive manufacturing market. As air travel becomes more prevalent, there is a greater need for efficient, innovative, and cost-effective aerospace components. The implementation of AM technologies enhances aircraft efficiency, fuel efficiency, and affordability, which supports the overall sustainability and reliability of air travel. According to the International Air Transport Association (IATA), Asia-Pacific airlines saw a 98.5% increase in traffic in August 2023 compared to August 2022, underscoring the rising demand for advanced aerospace solutions.
Explore comprehensive insights into the aerospace and defense additive manufacturing market with a detailed sample report:
https://www.thebusinessresearchcompany.com/sample_request?id=12260&type=smp
Major Companies and Innovations
Key players in the aerospace and defense additive manufacturing market include General Electric Company, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE, Northrop Grumman Corporation, BAE Systems, Safran SA, Rolls-Royce Holdings, Honeywell Aerospace, Siemens Digital Industries Software, OC Oerlikon Corporation AG, and others. Product innovations are pivotal, with companies focusing on developing new technologies to maintain market leadership. For instance, Aerojet Rocketdyne's RL10C-X rocket engine, introduced in May 2021, exemplifies this trend. The engine, created using additive manufacturing, successfully passed NASA's hot-fire testing and demonstrates significant advancements in rocket propulsion technology.
Market Trends
Major trends shaping the aerospace and defense additive manufacturing market include:
• Scaled production of critical parts
• Development of advanced AM materials
• Integration of automation and robotics in AM
• Advancements in post-processing techniques
• Integration of 3D printing electronics
These trends highlight the sector's shift towards more sophisticated and efficient manufacturing processes, supporting continued market growth and technological advancement.
Market Segmentation
The aerospace and defense additive manufacturing market is segmented as follows:
1. By Technology: Direct Metal Laser Sintering (DMLS), Fused Deposition Modeling (FDM), Continuous Liquid Interface Production (CLIP), Stereolithography (SLA), Selective Laser Sintering (SLS), Other Technologies
2. By Material: Metal, Plastic, Rubber, Other Materials
3. By Platform: Aviation, Defense, Space
4. By Application: Engine Component, Space Component, Structural Component, Defense Equipment, Other Applications
Regional Insights: North America Leading the Market
North America was the largest region in the aerospace and defense additive manufacturing market in 2023. The region continues to dominate due to its advanced technological infrastructure and strong presence of major market players. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
Explore the report store to make a direct purchase of the report
https://www.thebusinessresearchcompany.com/report/aerospace-and-defense-additive-manufacturing-global-market-report
Aerospace and Defense Additive Manufacturing Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Aerospace and Defense Additive Manufacturing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on aerospace and defense additive manufacturing market size, aerospace and defense additive manufacturing market drivers and trends, aerospace and defense additive manufacturing market major players, competitors' revenues, market positioning, and market growth across geographies. The aerospace and defense additive manufacturing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Aerobridge Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aerobridge-global-market-report
Aerosol Valves Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aerosol-valves-global-market-report
Aerospace Energy Storage Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aerospace-energy-storage-global-market-report
About The Business Research Company?
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube
