Aerospace 3D Printing Market to Grow at a CAGR of 27.4% by 2022: Increased Demand for Technologies Capable of Manufacturing Complex Aerospace Parts With Ease From the Aerospace Industry - Research and Markets
The aerospace 3D printing market is projected to grow from USD 714.5 Million in 2017 to USD 3,057.9 Million by 2022, at a CAGR of 27.42% during the forecast period, 2017 to 2022.
The growth of the aerospace 3D printing market across the globe can be attributed to increasing fleet size of various airlines and growing demand for lightweight aircraft components and parts. Manufacturers of aircraft and aircraft components are resorting to 3D printing technology to manufacture aircraft components and parts as this technology decreases the production time and shortens supply chain of the aircraft manufacturing.
This market has been segmented on the basis of vertical, industry, and region. Based on vertical, these market has been segmented into printers and materials. The materials segment of the aerospace 3D printing market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to increasing use of different types of materials to 3D print different types of engine components. Development of new materials to be used for 3D printing of components and parts used in the aerospace industry is also expected to drive the growth ofthis market during the forecast period.
Short Supply Chain of Aerospace Components.
Demand for Lightweight Parts And Components from the Aerospace Industry.
Increased Demand for Technologies Capable of Manufacturing Complex Aerospace Parts With Ease from the Aerospace Industry.
Requirement for Low Volume Production from the Aerospace Industry.