Published Date : Dec 19, 2016
ALBANY, NY, Dec 19, 2016: The study is titled, “Global Aerospace 3D Printing Market 2016–2020.” The market intelligence report is an insight into the historical and present growth trajectory and future forecasts along with the predominant trends of the global aerospace 3D printing market. It also provides an evaluation of the factors that are likely to adversely or positively impact the progress of the market. The publication further highlights the shares, key marketing and branding strategies, and products of the leading companies operating in the market.
According to the study, the global aerospace 3D printing market is estimated to witness an outstanding 56% CAGR from 2016 to 2020. 3D printing is the process of manufacturing successive layers of resources using computer based technology to create a component or object. This process enables producers to create a micro and small component of any size and shape. It also allows the manufacturers to decrease the weight of the parts, thus decreasing the overall weight of the aircraft. This type of innovative printing allows just-in-time (JIT) and cost-effective manufacturing of aerospace parts. It also helps manufacturers to make rapid changes and quickly design the internal features of the components, which traditional production methods do not allow.
The global aerospace 3D printing market is expected to exhibit strong growth owing to the growing trend of jet engine miniaturization. The mounting need for lowering the operational costs and increasing fuel efficiency are the prime factors behind the growing popularity of miniaturization in the aerospace sector utilizing the 3D printing technology. Additionally, the employment of light and small compressor systems helps in saving a substantial amount of fuel as gas turbines use the pulsed injection form of fuel to create pressure in the combustion chamber and compressor.
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Likewise, the 3D printing technology helps in the designing of an innovative technology known as the actuator deployed in compressor blades. This technology is used for controlling the airflow at a speed of almost 700 miles per hour. With the optimization of the air control, the stability of the system is also likely to enhance substantially. The companies in the market are anticipated to benefit from the new and innovative methods to manufacture screw threats through the 3D printing techniques. A few of these methods are thread cutting screws for plastics, shaping and printing threats using a tap, and printing pockets for metal threads.
On the basis of aircraft parts, the market has been segmented into airframe and aircraft components, out of which aircraft components accounted for the leading share in the market. Geographically, the market was led by the Americas owing to the rising adoption of 3D printing technology in the region among OEMs. Some of the key vendors in the market are Rolls_royce, Honeywell International, GE, Boeing, and Airbus.
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