Market Analysis: —
The global military 3D printing market is predicted to grow at a 28% CAGR over the forecast period (2018-2023), reveals the new Market Research Future (MRFR) report. 3D printing is the process and technology which helps in transforming digital files to physical objects. Plastics and metals are the typical materials that are used in such printing depending on the application. The emerging 3D technology holds promise for the military industry as well as related logistics.
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The experience of the military sector with 3D printing has highlighted various benefits. It helps to simplify logistics as military units will be able to transport only the raw materials and technology, instead of every weapon or conceivable spare part. Any soldier trained as a technician in 3D printing can produce customized parts both for individuals and unique situations. The military sector desires to invest in 3D technology as this can help in speeding up the supply chain, cut down costs, and above all, help in making them battle-ready and more productive. Moreover, 3D printing is ideal to meet the urgent operational requirements of warfare.
Various factors are driving the growth of the military 3D printing market. These factors, in accordance with the Market Research Future (MRFR) report, include increasing use for manufacturing lightweight components that are defense-related, growing investments by defense entities, and reduction in manufacturing price of parts.
On the contrary, lack of standard process control, the high price of 3D printing parts, stringent military standards, and limited accessibility of materials are factors that may deter the military 3D printing market growth over the forecast period.
The Market Research Future report offers a wide segmental analysis of the military 3D printing market based on offering, application, process, and platform.
Based on offering, the military 3D printing market is segmented into service, software, material, and printer. Of these, the service segment will have the largest share in the market over the forecast period.
Based on application, the military 3D printing market is segmented into prototyping, tooling, and functional part manufacturing. Of these, the prototyping segment will dominate the market over the forecast period.
Based on platform, the military 3D printing market is segmented into space, naval, land, and airborne. Of these, the airborne segment will lead the market over the forecast period.
Based on process, the military 3D printing market is segmented into sheet lamination, direct energy deposition, binder jetting, material jetting, vat photo polymerization, material extrusion, and power bed fusion. Of these, the direct energy deposition segment will have the maximum share in the market over the forecast period.
Based on the region, the military 3D printing market report covers growth opportunities and the latest trends across Europe, Asia Pacific (APAC), North America, Latin America, and the Middle East and Africa. Of these, North America will remain frontrunner in the market over the forecast period. This is owing to rising applicability of 3D printing in different industries. It is predicted to grow at the highest CAGR owing to increased investments made by the government in 3D printing projects, burgeoning demand for durable and lightweight parts, and adoption by various OEMs.
The military 3D printing market in the APAC region will have the second largest share in the market over the forecast period. This is owing to increased military spending, especially in China as well as India.
Leading players profiled in the military 3D printing market report include Engineering & Manufacturing Services (US), Smg3D (UK), Markforged (US), Initial (France), Optomec Inc. (Mexico), 3T RPD (UK), Artec Europe (Luxembourg), Cimetrix Solutions (Canada), American Elements (US), Norsk Titanium AS (US), Arcam AB (Sweden), EOS GmbH (Germany), The Exone Company (US), 3D Systems Corporation (US), and Stratasys (US).
Feb 2019: The United States Army Armament Research, Development, and Engineering in New Jersey is exploring 3D printing for soldiers, especially in the field when they require making parts immediately, for general maintenance, or as replacements.
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