(I-BusinessNews.Com, October 12, 2021 ) According to the new market research report "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", 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 increasing use of 3D printing to manufacture lightweight defense-related components is one of the most significant factors projected to drive the growth of the military 3D printing market.
The service offering segment is projected to grow at the highest CAGR during the forecast period.
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.
The direct energy deposition process segment is projected to grow at the highest CAGR during the forecast period.
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.
North America is projected to be the fastest-growing market for military 3D printing during the forecast period.
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.
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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