Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

3D Print Technology Adoption in Aerospace Industry Ignites 20.3% Growth Rate

3D Print Technology Adoption in Aerospace Industry Ignites 20.3% Growth Rate

Published : , on

Market shift toward production of flight-worthy parts in the next five years will create significant growth opportunities that could take the market past $535.1 million by 2024, finds Frost & Sullivan

LONDON- Frost & Sullivan’s recent analysis of the Global 3D printing materials market for the aerospace industry reveals that the market is set to experience significant opportunities for rapid growth. Leading industry participants such as Boeing and Airbus intend to expedite the adoption of 3D printing technology to reduce supply chain complexities and costs, shorten time frames, enhance functionality and performance, and produce lighter and safer flight-worthy parts and products. Frost & Sullivan anticipates the global 3D printing materials market for the aerospace industry to reach $535.1 million by 2024, with an impressive compound annual growth rate of 20.3% between 2017 and 2024.

“The aerospace industry is witnessing a quantum change in terms of supply-chain re-arrangement as 3D printing manufacturing makes inroads,” said Sayan Mukherjee, Senior Research Analyst, Chemicals and Materials at Frost & Sullivan.

“Material manufacturers with industry-qualified products have immense opportunity to cash in on double-digit growth.”

For further information on this analysis, please visit: http://frost.ly/2io

To gain a competitive advantage in a rapidly evolving market, Mukherjee recommends material manufacturers collaborate with machinery manufacturers such as Stratasys, EOS, and 3-D Systems to develop materials that are innovative, air-worthy, and suitable for large 3D printing. Leveraging new business models, designing products for different applications, and utilizing product bundling are further strategies to embrace.

Five key trends creating growth opportunities in the market include:

  1. Plastic filaments leading the 3D printing materials market, driven by their high adoption rate due to early availability of the technology;
  2. Metal powders having huge application potential in critical aircraft parts, including engine and static components;
  3. A market shift toward production of flight-worthy parts in the next five years;
  4. Boost to tooling applications through 3D printing; and
  5. The rationalization of prices over the next few years, making additive manufacturing (AM) a more desired solution.

“Although 3D printing greatly reduces cost involvement and turnaround time for short-volume production, the slow printing speed can be a hindrance to high-volume production until faster printing technology is available. Furthermore, the lack of clarity among end users regarding the medium- and long-term benefits of adopting 3D printing is a challenge to the industry,” noted Mukherjee.

Global 3D Printing Materials Market for the Aerospace Industry market intelligence identifies disruptive technologies, drivers and restraints, Mega Trends, market share and the competitive environment for players such as Stratasys, 3-D Systems, EOS GmbH, Arcam (GE), Covestro, Metalysis, DSM, Sandvik, Mitsubishi Chemicals, Solvay, SABIC, and Norsk Titanium. Unit shipment, revenue forecast, percent revenue forecast by product, and engineering measurements for segments such as plastic powders, plastic filaments, and metal powders are also provided.

Global 3D Printing Materials Market for the Aerospace Industry is part of Frost & Sullivan’s global Future of Chemicals, Materials, Infrastructure and Mobility Growth Partnership Service program.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post