Key Emerging Trends in Military 3D Printing Market
Posted by Sandeep Roy on March 4th, 2020
The Report on Military 3D Printing Market was valued at USD 623.0 Million in 2017 and is projected to reach USD 4,594.4 Million by 2025, at a CAGR of 28.37% from 2017 to 2025. The objective of this study is to analyze, define, describe, and forecast the military 3D printing market based on offering, process, application, platform, and region. The report also focuses on providing a detailed competitive landscape of the market. It profiles key market players, highlighting their financial positions, product portfolios, and growth strategies, and analyzes their core competencies and market shares to anticipate the degree of competition prevailing in the market.
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This research report also tracks and analyzes competitive developments, such as partnerships, acquisitions, new product developments, and funding activities in the military 3D printing market. The base year considered for this study is 2017 and the forecast period is from 2018 to 2025. The rising demand for lightweight parts and components in the defense industry and increasing investments made by defense entities in 3D printing projects are key factors projected to drive the growth of the market.
Based on offering, the service segment of the military 3D printing market is projected to grow at the highest CAGR from 2018 to 2025. The increasing demand for 3D printed parts from original equipment manufacturers is expected to fuel the growth of the military 3D printing services market. OEMs are adopting 3D printing technology, owing to its ability to print lightweight components and complex parts.
Based on process, the direct energy deposition segment of the military 3D printing market is projected to witness the highest growth during the forecast period. Direct energy deposition process is used to manufacture on-demand metal parts and components for the defense industry. The growth of the direct energy deposition segment can be attributed to the need for high-volume production of complex parts.
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The military 3D printing market in North America is projected to grow at the highest CAGR during the forecast period. The growth of the military 3D printing market in North America can be attributed to factors, such as increased government investments in 3D printing projects and demand for lightweight and durable parts. In addition, the adoption of 3D printing technology by various OEMs is also expected to drive the growth of the military 3D printing market in North America.
Key Market Players
Major players operating in the military 3D printing market include Stratasys (US), 3D Systems (US), ExOne (France), EOS (Germany), Arcam (Sweden), and Norsk Titanium (Germany).
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About the AuthorSandeep Roy
Joined: August 7th, 2019
Articles Posted: 253
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