Global Aerospace Additive Manufacturing Market to Reach $3.5 Billion by 2030
The global market for Aerospace Additive Manufacturing estimated at US$932.5 Million in the year 2022, is projected to reach a revised size of US$3.5 Billion by 2030, growing at a CAGR of 18.1% over the analysis period 2022-2030.
The global aerospace additive manufacturing market has experienced a positive trajectory, building upon a favorable historical review from 2014 to 2021.
This growth is expected to continue, driven by advancements in materials like metal alloys, rubber, plastics, and other material types. These materials contribute significantly to the market's expansion across various applications, such as aircraft, unmanned aerial vehicles (UAVs), spacecraft, engines, structural components, and other applications.
Metal Alloy, for instance is projected to record 19% CAGR and reach US$2.3 Billion by the end of the analysis period. Growth in the Rubber segment is estimated at 17.9% CAGR for the next 8-year period.
Furthermore, the aerospace additive manufacturing market is not limited to a specific application but encompasses a wide range of uses, including aircraft, UAVs, spacecraft, engines, structural components, and various other applications. This diversification contributes to the market's overall growth.
In the USA, the aerospace additive manufacturing market has shown substantial growth, with annual revenues projected to increase. Similar growth trends are observed in Canada, Japan, China, Europe, Asia-Pacific, and the Rest of the World. The 16-year perspective reveals the percentage breakdown of value revenues for these regions, demonstrating their contributions to the market.
Overall, the aerospace additive manufacturing market is expected to continue its upward trajectory, with substantial growth opportunities across different geographic regions and applications.
The Aerospace Additive Manufacturing market in the U.S. is estimated at US$312.7 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$417.7 Million by the year 2030 trailing a CAGR of 19.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16% and 16.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 17.4% CAGR.