Additive Manufacturing Market

According to a research report "Additive Manufacturing Market, by Component (Hardware, Software {Design Software, Inspection Software, Printer Software and Scanning Software} and Services), Printer Type (Desktop 3D Printer and Industrial 3D Printer), Technology (Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, Electron Beam Melting, Laser Metal Deposition, Digital Light Processing, Laminated Object Manufacturing and Others), Material (Polymer, Metal and Ceramic), Application (Prototyping, Tooling and Functional Parts), End-use Vertical (Industrial Additive Manufacturing {Automotive, Aerospace & Defense, Healthcare, Consumer Electronics, Power & Energy and Others} and Desktop Additive Manufacturing {Educational Purpose, Fashion & Jewelry, Objects, Dental, Food and Others}) & Region

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• 190 - Market Data Tables 
• 71 - List of Figures
• 209 - Pages

Market Overview: The additive manufacturing sector has witnessed noteworthy growth and widespread adoption in recent times, with expectations of further substantial expansion and acceptance in the future. The key driver behind the increased adoption of additive manufacturing is the growing demand for automation and cost-effective technologies within the manufacturing industry. The integration of additive manufacturing technologies in production processes enables the efficient mass production of intricate parts, thereby reducing lead times. Its high precision and rapid production capabilities have led to the displacement of traditional methods. Additionally, additive manufacturing is revolutionizing production across various applications.

Market Dynamics

Drivers:

• Rising demand for low-weight automobile components
• Higher development of prototypes for medical devices
• Increasing technological advancement in 3D printing
• Rapid product development at a low cost

Opportunities:

• Expansion of additive manufacturing into new industries
• Growing demand for personalized products
• Development of new materials

The Market For Additive Manufacturing Is Dominated By North America.

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.

Key Players covered in the global Additive Manufacturing Market:

• 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

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Segmentations Analysis of Additive Manufacturing Market: -

• By Component
• By Printer Type
• By Technology
• By Material
• By Application
• By End-use Vertical
• By Region

Recent Development: 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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