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Military 3D Printing Market: By Component (Technology, Material, Services), By Application (Tooling, Jigs, and Fixtures, Prototyping, End-Use Parts, Others), By End Use (Army, Navy, Air Force), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Military 3D Printing allows quick production of parts and supports army readiness on the battleground. The supply chain is shortened due to this technology since the necessary components or structures can be produced on demand anywhere and anytime. However, the technology is still in its infancy as it is primarily used to create prototypes and assess whether it is ready for the military before being deployed in actual operations. The military can become more independent owing to the use of 3D printing. Instead of relying on external vendors, businesses may produce replacement parts and components for their equipment with 3D printers. This is a crucial skill during the war when enemy forces try to cut off the supply lines.
Military 3D Printing Market to surpass USD 18.9 billion by 2032 from USD 1.29 billion in 2021 at a CAGR of 27.7% in the coming years, i.e., 2022-32. The key growth drivers of the military 3D Printing Market are the increasing investments made by defense bodies in 3D printing projects, the escalating demand for lightweight parts and components in the defense industry, and the declining manufacturing costs of components. The market is expanding due to the development of cutting-edge 3D printing technologies, portable printers, and 3D printing as a service.
Figure - Market Analysis of Military 3D Printing Market
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Military 3D Printing Market is categorized on the basis of Application into Tooling, Jigs, and Fixtures, Prototyping, End-Use Parts, and Others. The Prototyping segment accounted for a major market share in 2021 and is anticipated to expand throughout the anticipated period. The growth is attributed to the extensive usage of 3D printing in the development of prototypes in the defense industry.
Military 3D Printing Market is categorized on the basis of End Use into Army, Navy, and Air Force. In 2021, the Air Force segment held a larger share, and it is predicted to continue dominance throughout the forecast period. The widespread use of the aerial fleet, the development of autonomous aircraft, and the introduction of next-generation fighter jets are all the factors of the segment growth.
Figure - Market Analysis of Global Military 3D Printing Market
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The growth of the global Military 3D Printing Market is backed by increasing military applications, increasing government spending on defense technologies, and a demand for lightweight components in the defense industry. The development of self-driving ships equipped with autonomous & smart armaments coupled with increasing global upgradation of naval services are expected to create new potential prospects for the global market.
Owing to the global trend of upgrading naval forces, military 3D printing has become more popular among naval services. Moreover, the development of autonomous ships that is outfitted with intelligent and autonomous weapons, opens up numerous opportunities for the growth of the Military 3D Printing Market since it will be possible to design weapons that can be used under any circumstance, driving the market globally.
While progressing, the majority of the marketing industry needs to overcome different marketing obstacles. Owing to many circumstances, the Military 3D Printing Market is also experiencing difficulties while witnessing growth. The Military 3D Printing Market is being challenged by the ongoing need for more advanced and inventive 3D printing for designing various military equipment.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Military 3D Printing Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominated the market in 2021 and is anticipated to lead throughout the forecast period. The existence of numerous prominent 3D printer manufacturers is the reason for the market in the region. In addition, heavy investments in 3D printing technology and ongoing partnerships between regional industry players have facilitated the enormous expansion of the military 3D printing market in North America.
Over the forecast period, Asia-Pacific is also anticipated to hold a higher CAGR. This is due to the increasing defense spending in Asia-Pacific nations like India, China, Japan, Taiwan, and South Korea.
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The Military 3D Printing Market Value decreased during the COVID-19 period due to the production and process difficulties brought on by the lockdown effect. Different businesses stopped their 3D printing operations and processes. But the major companies put into practice a number of marketing strategies to restore the growth rate and economy of the global market.
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REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 1.29 billion |
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Revenue Forecast in 2032 |
USD 18.9 billion |
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Growth Rate |
CAGR of 27.7% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Component, Application, End Use, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled |
General Electric Company, Autodesk Inc., Ansys.com, Proto Labs Inc., 3D Systems Inc., Stratasys Ltd., E.O.S GmbH, Prodways Group, Ultimaker BV, Desktop Metal Inc., ExOne Company, American Elements Corporation, Engineering & Manufacturing Services Inc., Fracktal Works Private Limited, Markforged, and Other Prominent Players. |
The Military 3D Printing Market size was estimated at USD 1.29 billion in 2021 and is expected to reach USD 18.9 billion in 2032.
Military 3D Printing allows quick production of parts and supports army readiness on the battleground. The use of 3D Printing technology helps the military to become more independent.
The Prototyping and Air Force segments accounted for the larger share of the Military 3D Printing Market.
Key players in the Military 3D Printing Market are General Electric Company, Autodesk Inc., Ansys.com, Proto Labs Inc., 3D Systems Inc., Stratasys Ltd., E.O.S GmbH, Prodways Group, Ultimaker BV, Desktop Metal Inc., ExOne Company, American Elements Corporation, Engineering & Manufacturing Services Inc., Fracktal Works Private Limited, Markforged, and Other Prominent Players.
The key growth drivers of the military 3D Printing Market are the increasing investments made by defense bodies in 3D printing projects, the escalating demand for lightweight parts and components in the defense industry, and the declining manufacturing costs of components
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