Additive Manufacturing Market Size, Share, Forecast
Additive Manufacturing Market Scope:
Market size value in 2023 – USD 20.1 Billion
Market size value in 2030 – USD 74.6 Billion
CAGR (2023-2030) – 20.6%
Forecast Period – 2023-2030
Segments Covered – Component, Printer Type, Technology, Material, application, End-use Vertical & Region.
Geographies Covered – North America, Europe, Asia Pacific, and Row
Sample of Companies Covered – Optomec, Inc., Renishaw Plc, Siemens AG, Sirona Dental System, SLM Solutions GmbH, Stratasys, Ltd., Voxeljet AG, Wipro Limited.
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Browse in-depth TOC on “Additive Manufacturing Market”
178-Tables
95-Figures
332-Pages
North America dominates the market for Additive Manufacturing.
In 2022, the North American market dominated with the highest revenue share, attributed to the increasing adoption of 3D printing technologies. Additive Manufacturing (AM) technologies offer four potential sources of value compared to conventional production methods, providing designers the flexibility to create parts that outperform or are more cost-effective than traditional alternatives due to their ability to generate virtually any 3-D shape. For example, an Airbus titanium bracket produced using additive manufacturing is 30% lighter than the original without compromising strength or performance. AM has gained widespread acceptance in various industries as the fastest and most cost-effective way to create functional prototypes during product development and evaluation. Additionally, there is a growing utilization of ‘indirect’ applications of AM technologies, such as fixtures, spare parts, and tooling for conventional production equipment.
The Asia Pacific market is anticipated to register the highest revenue Compound Annual Growth Rate (CAGR) during the forecast period. The advancement of Radio Frequency (RF) design has been propelled by Direct Metal Printing (DMP). Industry leaders leverage the potential of additive manufacturing to fundamentally reconsider subsystems and produce them in highly unitized structures. Unitization brings several advantages, including fewer interfaces in the RF transmission chain, leading to reduced overall system losses. Lower part counts, lighter and smaller assemblies, reduced quality control costs, and a more efficient supply chain are additional benefits of unitization. In a specific instance, an inductive RF filter for on-orbit use was manufactured using the DMP process, requiring only one piece compared to the 39 parts of a conventional unit. The additively produced filter also weighed half as much as the traditional filter.
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Top Key Players Covered in the Report-
3D Systems, Inc., Autodesk Inc., Biomedical Modeling, Inc., EnvisionTec, Inc., Eos GmbH Electro Optical Systems, EXone Company, General Electric Company, Materialise NV, Optomec, Inc., Renishaw Plc, Siemens AG, Sirona Dental System, SLM Solutions GmbH, Stratasys, Ltd., Voxeljet AG, Wipro Limited and Others.
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Recent Developments-
In September 2023, Redwire successfully launched the inaugural 3D bioprinted human knee meniscus in space. This groundbreaking product was manufactured utilizing the 3D Biofabrication Facility (BFF) on the International Space Station (ISS). Redwire has played a pivotal role in establishing 20 research facilities for the ISS, with 10 of them currently operational on the station.
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This release was published on openPR.
