Metal additive manufacturing is a technique in which a scanned or digitally designed object is formed into a 3D solid using an additive process. In this process, metal powder is applied in successive layers with little wastage and subject to a concentrated energy source that melts and shapes the metal.

The report highlighted several advantages over traditional manufacturing including design flexibility, shorter lead time, less wastage, less assembly requirements and lower total cost of ownership.

A trend boosting market growth is the increase in demand for aircraft engines from OEMs. Advances in CAD, materials, and technologies used in additive manufacturing are increasing the use of printed parts for functional use in engines. Steel, nickel, aluminium, titanium, and their alloy combinations are being upgraded for additive manufacturing.

A key growth driver is the increase in use of metal additive manufacturing in industrial applications. Metal additive manufacturing helps produce complex shapes at a shorter lead time. Therefore, it is widely employed for prototyping. Various industrial end-users are service bureaus, research institutions, and the aerospace industry. Some of the highly valued and advanced products from metal additive manufacturing are aero engines and turbine components.

However, one challenge that could restrict market growth is high production costs. The costs of additive technology for industrial use are higher than for conventional methods of production such as casting. High machine costs, expensive metal powders, and slower build rate makes metal additive manufacturing expensive.