Aerospace 3D Printing Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2027

Market Insights

The history of 3D printing in the aerospace industry traces back to 1988 with some A&D companies beginning experimentation with the technology. Over the years, the adoption of 3D printing technology in the aerospace industry has increased owing to its benefits, such as the fabrication of parts with complex geometries, reduced weight, less scrap, and on-site part fabrication. Currently, the penetration of the 3D-printing technology in the aerospace industry is at the nascent stage (< 1%) but is subjected to grow at the highest pace among all the technologies (3D printing, AFP, ATL, compression molding, casting, etc.) in the foreseen future, assisting the technology to gain a strong foothold in the aerospace industry.

The aerospace industry accounted for a share of 16.8% of the 3D-printing market in 2019 and is likely to grow at a fast rate in years to come, generating huge growth opportunities for the market participants. Both aircraft, as well as engine manufacturers, have eagerly been relying on the technology in order to develop lightweight parts.

Impact of COVID-19 on the Aerospace 3D Printing Market

The global aerospace 3D printing market grew continuously in the trend period and was estimated to maintain its upward growth trajectory in 2020 as well. However, the rapid spread of the COVID-19 ruined the market expectations. The pandemic exacerbated the existing challenges of the aerospace industry, weakened the industry sales to its lowest figure of the decade.

Disruptions in the supply chain and operating activities due to the lockdown in several countries have worsened the market conditions. As per the recent estimates of IATA, the airline industry is estimated to record a massive decline of -65.9% in RPKs in 2020 from 2019 amid the pandemic. As a result, the aerospace 3D printing market has shown a sharp decline in 2020, crushing the market sales near to its 2018-market level.

Based on industry estimates by IATA and ICAO, the study of market recoveries in previous downturns (The Great Recession, SARS, etc.), and primary interviews with the key market stakeholders, the publisher estimates suggest that the market for aerospace 3D printing is likely to commence recovery from 2021 onwards, followed by maintaining sequential growth till 2027, ultimately taking the global aerospace 3D printing market to reach US$ 4.6 billion by 2027.

Strong fundamentals of the market, such as huge order backlogs of Boeing and Airbus (11,179 aircraft at the end of January 2021), an expected increase in the demand for narrow-body aircraft with the early resumption of domestic air travel, and market entry of new aircraft programs such as A321XLR, C919, and MC-21; and variants of existing aircraft programs such as B777X, are the factors that are asserting healthy long-term growth opportunities in the aerospace 3D printing market once the aftermath of the pandemic ends.

Market Drivers

Some of the factors driving long-term growth in the market are listed below:

• Resumption of B737 Max,
• An expected recovery in production rates of the best-selling aircraft programs such as A320 and B787
• Introduction of fuel-efficient variants of aircraft programs such as B777x and E-2 jets.
• Growing global satellite industry
• An expected recovery in the production of LEAP engines.
• Exceptional benefits of 3D printing technologies across the supply chain of the aerospace industry
• Advancements in 3D printing technologies

In the industry, a handful of players are proactively ramping up their capabilities to leverage 3D printing in mainstream applications among which GE leads the pack. Most of the tier players are waiting on the sidelines as they are still hammering hard for the development of technological know-how and capabilities. They are looking for some real-world case studies and mainstream applications before committing to capitalize on 3D printing manufacturing setups.

Segment Analysis

Aerospace 3D Printing Market Share by Vertical Type

The aerospace 3D printing market is segmented based on the vertical type as hardware, software, material, and services. The services segment is expected to witness the highest growth in the post-pandemic market developments, owing to the use of a wide range of materials to print engine and structural components. Furthermore, the development of new materials for 3D print components to withstand high temperatures and extreme environment is likely to boost the demand for 3D-printing materials in the years to come. Major aircraft manufacturers, such as Boeing and Airbus, are expediting the adoption of this technology in order to achieve a faster production process, reduce wastage, and shorten the supply chain.

Aerospace 3D Printing Market Share by Industry Type

Based on the industry type, the aerospace 3D printing market is segmented into Civil Aviation, Military Aircraft, and Spacecraft. Civil aviation was the worst-hit segment due to COVID-19 due to a massive decline in RPKs. However, the segment is expected to be the growth engine of the market during the forecast period, with an expected recovery in the civil aviation industry coupled with increasing demand for lightweight and complex aircraft parts with high-quality and shorter lead time. GE Aviation is a major company that has already started producing engine components in mass-volume using 3D printing technology. Rolls-Royce is another engine manufacturer that started making 3D-printed parts for its engines including Trent. Other major engine OEMs are also on the same path and have been working hard for the development of 3D-printed parts. Furthermore, an expected rise in air passenger traffic is likely to create a higher demand for new aircraft. After the pandemic, airlines will be back on track and again demanding lightweight aircraft in order to enhance their profitability. Major airframers are increasingly working for the development of advanced technologies including 3D printing in order to develop lightweight parts at a faster rate.

Aerospace 3D Printing Market Share by Application Type

Based on the application type, the market is segmented into engine components, structural components, and space components. The engine components segment has experienced a huge decline in the market in 2020 in the wake of the pandemic. However, all three applications are expected to expand with significant CAGRs over the next five years, owing to an expected recovery in aircraft deliveries coupled with growing penetration of lightweight materials and the development of parts with high precision at reduced time. The engine components segment is projected to witness the highest growth during the same period, driven by a high focus of major engine manufacturers including GE, Pratt & Whitney, and Rolls-Royce to develop engine parts of turbofan engines using the 3D printing technology. GE Additive and Pratt & Whitney prove to be the game changers in the aerospace 3D-printing engine segment in which GE Additive holds the preeminent position.

Regional Insights

Despite there has been a massive decline in the market across the world, North America is expected to remain the largest market for aerospace 3D printing till 2027. The region is the world’s manufacturing capital of the aerospace industry with the presence of many large-to small-sized OEMs, tier players, and raw material suppliers. Major 3D printer manufacturers are also located in the region to cater to the growing regional demand for 3D printers as well as materials. Asia-Pacific is expected to recover at the fastest pace, with impressive growth in the aerospace 3D printing market during the forecast period, primarily driven by an expected early recovery of emerging economies like China and an increasing presence of OEMs and tier players to tap the growing local demand from the key economies, such as China, Japan, and India.