3D Printing, an additive manufacturing process involves methods used to create a three-dimensional object by putting together layers of material under computer control.
3D Printing is a rapidly growing market. 3D Printing considerably reduces raw material wastage compared to traditional printing methods. 3D Printing has become pervasive across a wide range of application industries such as healthcare, consumer electronics, automobiles and aerospace.
The Worldwide 3D Printing Market in Aerospace and Consumer Electronics is expected to grow at a CAGR of 28.2% during the period 2016–2022 to reach an aggregate of $11,140 million by 2022. The 3D Printing market in the aerospace vertical will experience an impressive growth from US$ $613.7 million in 2015 to $1,446.7 million by 2019.
Increased investments by the big industry players, increasing public- private partnerships is boosting the growth of 3D printing in the aerospace vertical. Demand for sleek, light-weight and complex products is fuelling the demand for 3D printing in consumer electronics vertical.
Reduced raw material wastage, increased government investments, efforts to develop light-weight aircraft, increase in tech-savvy population, increased demand for wearables and smart devices in consumer electronics segment are growth propellants in the Worldwide 3D Printing Market in Aerospace and Consumer Electronics Verticals.
Segmentation by Service Types
The market is analyzed by the following service types- Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Managed Hosting, Application Delivery Network (ADN) and Colocation Services.
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Segmentation by Technologies
The market is segmented by the following technologies- Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA) and Others.
Segmentation by Materials
The Worldwide 3D Printing Market in Aerospace and Consumer Electronics is segmented by the following materials – Plastic, Ceramics, Rubber, Metal, Wax and Others.
Segmentation by Key Geographies
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The Worldwide 3D Printing Market in Aerospace and Consumer Electronics is segmented by the following regions- North America, Europe, Asia-Pacific and LAAM.
North America is one of the key market for 3D Printing in Consumer Electronics whereas Europe leads the Aerospace 3D Printing Market. The growth in North America and Europe has been two-fold. Asia-Pacific is also emerging as a high growth market.
It is expected that Asia Pacific and Latin America will be the biggest 3D printing market in aerospace and consumer electronics domain, in the coming years. The increase in the number of air travellers, increasing income and growing demand for sleek and light-weight electronic products will support the growth of the 3D printing market in these regions. It is predicted that major growth will be witnessed in China, Singapore and Brazil due to increased R&D activities in these countries.