3D printing, also known as additive manufacturing, is a process of creating three-dimensional objects from a digital file using various materials, such as steel alloys, aluminum, titanium, plastics, nickel, and ceramics. Initially, 3D printing technology was employed by the aerospace industry to manufacture prototype component parts of aircraft, but presently, it is being adopted in various other industries, such as defense for prototype testing and component manufacturing. The military 3D printing market is estimated to be USD 799.8 Million in 2018 and is projected to reach USD 4,594.4 Million by 2025, at a CAGR of 28.37% from 2018 to 2025. The growth of the military 3D printing market can be attributed to the rising demand for lightweight parts and components in the defense industry and increasing investments made by defense entities in 3D printing projects.
Stratasys (US), 3D Systems (US), ExOne (France), EOS (Germany), Arcam (Sweden), and Norsk Titanium (Germany) are some of the key players operating in the military 3D printing market. These market players are focused on the adoption of the new product launch strategy to expand its product portfolio in the military 3D printing market. Core competencies of these players include wide regional presence and increased investments in R&D activities.
Stratasys (US) is a key player in the military 3D printing market. The company has a broad product portfolio and is focused on launching new products in the military 3D printing market. It is also focused on the adoption of acquisitions, agreements, and expansions strategies to strengthen its foothold in the military 3D printing market. The company has a strong product distribution as well as delivery & support network. In February 2018, the company developed a new metal 3D printing platform primarily for short run applications. This new platform can print pilot series parts and is also preferred for manufacturing of complex parts. The company collaborates with leading 3D printing material companies to improve its technology and expand its product portfolio.
3D Systems (US) is another key player in the military 3D printing market. The company has a diverse product portfolio as well as wide presence in Europe, North America, and Asia Pacific. As part of its growth strategy for the 3D printing material business, the company is focused on new product developments to introduce novel products in the market. The company is undergoing partnerships to increase the adoption of 3D printing in various industries, including aerospace. In October 2015, the company partnered with GPI Prototype & Manufacturing Services, Inc. (US) to increase the access and adoption rate of direct metal 3D printing technologies.
Military 3D Printing Market by Offering (Printer, Material, Software, Service), Application (Functional Part Manufacturing, Tooling, Prototyping), Platform (Airborne, Land, Naval, Space), Process, Technology, and Region - Global Forecast to 2025
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