Additive manufacturing also is known as 3D printing entails the creation of 3-dimensional items with the help of a computer. It’s a fast-growing field that has been adopted across various fields i.e. aviation, automotive, healthcare and consumer electronics. Its adoption has been due to its efficient utilization of raw materials.
The global 3D printing market in Aviation and Consumer Electronics is projected to grow at Compound Annual Growth Rate of 28.2% between 2016 – 2022 with a market share of $11,140 Million by 2022. Additive Manufacturing in the aviation industry will record a rise of revenues from US$ 613.7 million in 2015 to US$ 1,446.7 million by 2019.
There will also be a rise in investments by industry stakeholders and more public-private partnerships that will see the more adoption on 3D printing in the aviation industry. On the other hand the demand for innovative, polished, and complex items has been the driving force for 3D printing of consumer electronics.
Other factors that have aided the global growth of 3DPrinting in both aviation and consumer electronics include desire for lighter aircrafts, rising demand for smart devices and wearables as well as people becoming more techno-savvy.
In terms of Type, there is
- Infrastructure as a Service (IaaS)
- Platform as a Service (Paas)
- Managed Hosting
- Application Delivery Netwwork (ADN)
- Colocation Services
- Fused Deposition Modeling
- Selective Laser Sintering
- Wax and others
North America leads in 3D printing of Consumer Electronics while Europe leads in Aviation. The Asia Pacific and Latin America are tipped to lead in both consumer electronics and aviation in years to come. China, Singapore, and Brazil have heavily invested in Research & Development and are projected to be top leaders of 3D printing in aviation and consumer electronics.