MILITARY 3D PRINTING MARKET TO REACH USD 3.7 BILLION BY 2024 | CAGR 28.4% – FORENCIS RESEARCH

Military 3D Printing Market Size, Share, Trends, Growth, Analysis, Research

Global Military 3D Printing Market: Key Highlights

  • According to the new market research report Military 3D Printing Market by Metal (Alloy), by Materials (Thermoplastics), by Platform (Air, Land), by technology (Stereolithography (SLA)), by End User (Healthcare, Defense), by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2017 to 2024”, the global Military 3D Printing Market is estimated to reach USD 3.7 Billion by 2024 at a CAGR of around 28.4% during the review period.
  • Military 3D printing cover under various technologies such as electron beam melting (EBM) and fused deposition modeling. It’s also include portable 3D system will offer the new growing demand for this market.
  • 3D printing helps in making custom weapons and minimizes the manufacturing damages which may witness to increase the market demand.

Military 3D Printing Market

Global Military 3D Printing Market: Key Market Dynamics

  • Reduction of manufacturing time and cost which will help the manufactures, defense organizations and military end user to enhance the business growth.
  •  Rising demand for customized equipment play a vital role in the military sector to simplify complex supply chain logistics which boots the growth of the military 3D printing market in the forecast period.
  • Manufacture quality assurance are the major challenges for the growth of the military 3D printing market.
  • Adoption for portable 3D printer can help in print the malfunctioning part and lead to create highly accurate models which may lead to enhance the demand of the market.
  • Limited materials availability act as a restraining factor for the growth of the market as their limited for the produce.

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Global Military 3D Printing Market: Regional Overview

  • Asia-Pacific

The military 3D printing market in the Asia-Pacific region as it is one of the fastest growing market for arm dealers is projected to witness high demand in the region.  

The region is projected to increase its fleet in the coming year and is dominated by China and Japan. The acquisitions of 3D system Project 4500 printer by the Chinese army and also functioning on then replacement military truck parts for the army fuel tanker. According to the National Conference of State Legislatures, in 2017 the China has invested USD 132 Million for the allocation of R&D.

  • Europe

According to the Aerospace & Defense Industries Association of Europe, the total turnover stood at USD 281.67 billion in 2018. The country invested USD 21.76 billion in aerospace & defense R&D. moreover, with the rapid growth of the aerospace & defense industry in Europe, the demand for military 3D printing is expected to increase and grow in the forecast period.

Global Military 3D Printing Market: Key Players Overview

  • 3D Systems Corporation:

3D Systems Corporation is manufacture and sells 3D printers, 3D printing materials, and 3D scanner and offer 3D printing services. Also the company 3D printing for the manufacturing industry. Also, the army lab acquired the 3DS technology for the development of materials and applications research Army. Also the 3D systems are providers of advanced and comprehensive 3D digital design and fabrication solutions. In 2019, the 3D systems have been awarded a USD 15 Million contract by the Combat capabilities development Command Army Research Laboratory.

  • ExOne Co:

ExOne Co is world leading in manufacturing technology, and 3D printing systems and its services. Also the company is a global leader in binder jet 3D printing technology. The company has become the exclusive in licensee of the technology in the form of several 3D printers for the research and prototyping. In 2019, the company had announced it collaboration with the Oak Ridge National Laboratory (ORNL) for the advancement in jet 3D printing and also for the develop a new binder jet technology.

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Rep Id : AnD 027

Published : 2020-01-15