RAIPUR, India, Dec. 17, 2021
RAIPUR, India, Dec. 17, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Military 3D-Printing Market by Platform Type (Airborne, Naval, and Land), by Offering Type (Printer, Material, Software, and Service), by Application Type (Prototyping, Parts Manufacturing, and Tooling), by Process Type (Material Extrusion, Powder Bed Fusion, VAT Photopolymerization, Binder Jetting, Directed Energy Deposition, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's military 3D printing market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Military 3D Printing Market: Highlights
3D printing is one of the emerging technologies of industry 4.0 or the fourth industrial revolution, which is used to create a three-dimensional object through layer-by-layer deposition of material by utilizing the computer-created design. The significance of 3D printing in the military is of paramount importance as it offers rapid production of parts and supports military readiness on the battlefield. Furthermore, it shortens the supply chain as the required parts/structures can be self-produced anywhere and anytime. However, the utilization of this technology is still at the introduction stage as it is majorly used to produce prototypes and perform analysis for its suitability for the military before its use in real operations.
Military 3D-Printing, a sizeable market, could not resist the attack of the pandemic and witnessed a decline of -3.8% in 2020 amid the global downturn. However, the industry gradually started to rebound from the year 2021 with the resumption of manufacturing facilities, availability of materials, continuation of pending projects, etc. Furthermore, the growth of 3D-printing applications, emergence of new technologies, increasing flexibility of materials, etc. would support the growth of the market in the coming years. Overall, the military 3D-printing market is likely to rebound at a double-digit CAGR of 14.8% in the coming five years to reach US$ 1.7 billion in 2027.
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Based on the platform type, the military 3D-printing market is segmented as airborne, naval, and land. With large and wide-scale utilization of 3D printing for military aircraft and drones, airborne platform is expected to remain the largest and the fastest-growing platform type in the market during the forecast period, owing to the increasing demand for 3D printing for replacement of parts to support aircraft sustainability management. 3D printing is highly utilized for the MRO activity of military aircraft, especially in the production of spare parts for old aircraft which are unable to obtain from their respective suppliers. Moreover, with the production of new aircraft, the use of 3D printing would grow more in the production of custom and complex parts.
Based on the offering type, printer is expected to remain the dominant offering type in the market during the forecast period, owing to the increasing preference of military to 3D-printed parts coupled with the increasing trend of portable 3D printers, which can be utilized anywhere at any point of time.
Based on the application type, prototyping application is expected to remain the largest application type in the market during the forecast period, owing to increasing R&Ds associated with application of 3D printing in military products. Many prototypes are made by military personnel to test the suitability of 3D-printed parts for military environments. However, the shift towards actual parts' production for real operations will drive the growth of parts manufacturing applications over the next five years.
Based on the process type, material extrusion is expected to remain the most preferred process type in the market during the forecast period, owing to the ease of operation and cost efficiency offered by the process. This process is highly preferred by the military to produce polymer prototypes.
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In terms of regions, North America is expected to remain the largest market for military 3D printing during the forecast period. This dominance is led by the USA, which is the largest country in the world to utilize 3D printing for the military category. 3D printing is highly utilized by the US military in their home and overseas military bases. The USA is the global leader in terms of market size as well as growth in military 3D printing, propelled by favorable government policies with a sole aim to expand the utilization of 3D printing. For an instance, recently in January 2021, the US Department of Defense unveiled its additive manufacturing strategy to achieve widescale adoption of 3D printing by integrating 3D printing in its department and defense industrial bases and promotion of training and research and its agile and secure usage in defense. The highest defense expenditure of the country paired with the heavy funding for defense R&Ds will support the growth of the market in the region over the coming years.
Asia-Pacific is likely to grow at the fastest rate in the coming five years. This region has many markets/countries with reasonably high defense expenditure and are ready to grab the opportunities offered by this technology. Moreover, there is a lot of research undergoing in various countries, further boosting the pace of adoption of 3D printing in the region.
The market for military 3D printing is consolidating as major companies are performing mergers & acquisitions to quickly gain the leading position and to tap the growing opportunities in this briskly expanding market. For an instance, Desktop Metal, Inc., a leading provider of metal and carbon fiber 3D-printing solutions, acquired The Exone Company.The supply chain of this market comprises several nodes including suppliers and distributors of 3D-printed parts, printers, materials, 3D-printing software providers, 3D-printing service providers, OEMs, and MRO companies using 3D printing. Following are the key players in the military 3D printing market:
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. Following are the key features of the report:
This report studies the military 3D printing market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Military 3D-Printing Market, by Platform Type
Military 3D-Printing Market, by Application Type
Military 3D-Printing Market, by Process Type
Military 3D-Printing Market, by Region
Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports: https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html
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