Global Aerospace And Defense Additive Manufacturing Market Opportunities 2024, Forecast To 2033
8 Mar, 2024
The aerospace and defense additive manufacturing market size has grown exponentially in recent years. It will grow from $3.62 billion in 2023 to $4.4 billion in 2024 at a compound annual growth rate (CAGR) of 21.5%. The growth in the historic period can be attributed to cost reduction, lightweight components, customization and complexity, supply chain optimization, material advancements. The aerospace and defense additive manufacturing market size is expected to see rapid growth in the next few years. It will grow to $8.76 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to increased adoption of am technology, advancements in material science, complex part production, industry 4.0 integration, digital twin implementation. Major trends in the forecast period include scaled production of critical parts, am materials development, automation and robotics in am, post-processing advancements, 3d printing electronics integration.
Global Aerospace and Defense Additive Manufacturing Market Key Driver
The growing government spending on the defense sector, demonstrated by a $9.3 billion or 4.5% increase in the US Air Force's fiscal year 2024 budget request over the previous year, according to the United States Air Force (USAF), is driving the growth of the aerospace and defense additive manufacturing market. Increased investment in defense facilitates research and development efforts in additive manufacturing, leading to innovations in materials, processes, and quality control.
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The aerospace and defense additive manufacturing market covered in this report is segmented –
1) Technology:Direct Metal Laser Sintering (DMLS), Fused Deposition Modeling (FDM), Continuous Liquid Interface Production (CLIP), Stereolithography (SLA), Selective Laser Sintering (SLS), Other Technologies
2) Material:Metal, Plastic, Rubber, Other Materials
3) Platform:Aviation, Defense, Space
4) Application:Engine Component, Space Component, Structural Component, Defense Equipment, Other Application
By Geography: The countries covered in the aerospace and defense additive manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the aerospace and defense additive manufacturing market in 2023. The regions covered in the aerospace and defense additive manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Aerospace and Defense Additive Manufacturing Industry Players
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; Moog Inc.; Aerojet Rocketdyne Holdings Inc.; Carpenter Technology Corporation; Renishaw plc; GKN Aerospace; Stratasys Ltd.; EOS GmbH; 3D Systems Corporation; Proto Labs Inc.; Materialise NV; Desktop Metal Inc.; SLM Solutions Group AG; Optomec Inc.; Sintavia; Additive Industries; Optisys LLC; CRP Technology SRL; BeAM Machines Inc.
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Aerospace and Defense Additive Manufacturing Market Overview
Aerospace and defense additive manufacturing is the application of 3D printing technology to make parts and components for the aerospace and military sectors. They are used to make components with complicated geometries, parts with enhanced performance characteristics, repair or replace broken parts, promote innovation, and generate prototypes for research and development.