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Aerospace and defense 3-D printing market to surpass $4B by 2023, report says | Defense News
U.S. Navy

Aerospace and defense 3-D printing market to surpass $4B by 2023, report says | Defense News

The aerospace and defense 3-D printing market will grow at a compound annual growth rate of 23.2 percent over the next five years, reaching $4.76 billion by 2023, according to a MarketsandMarkets report.

The market research firm attributes this growth to the significant reductions in maintenance and production costs of 3-D printed components, as well as high reliability and performance levels.

Rather than producing many small, individual parts, the process of 3-D printing, also known as additive manufacturing, allows companies to take many individual components and manufacture them as a single piece, reducing weight and bulk.

Source: Aerospace and defense 3-D printing market to surpass $4B by 2023, report says | Defense News