AI, 3D Printing, and Blockchain Contributing to the Growth of A&D

Aerospace and Defense Review | Monday, June 05, 2023

The global aerospace and defence market is projected to reach $855.62 billion in 2023, with AI, 3D printing, and blockchain technologies driving innovation and growth in the industry. North America leads the market, followed by Asia Pacific and Western Europe.

FREMONT, CA: According to the Business Research Company’s Aerospace and Defence Global Market Report 2023, the global A&D market is projected to grow to $855.62 billion in 2023 at a CAGR of around 7 per cent. The market is forecasted to grow to $1076.5 billion in 2027 at a CAGR higher than 5 per cent. In the near future, developing urbanisation, higher use of lightweight materials, government funding, rising demand for military helicopters, commercial usage of drones, and escalating military modernisation programs will aid in the growth of the A&D market.

The global aerospace and defence market is slightly concentrated, with a few large players dominating the industry. There are trends that the industry is currently falling behind.

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Artificial Intelligence (AI)

A&D market businesses are very interested in and therefore focused on, the emergence and deployment of artificial intelligence in the industry, as it helps in improving efficiencies. AI, in the field of aviation, possesses the potential to improve urban air mobility, increase airline safety, and allow for predictive maintenance of aeroplanes and numerous other defence equipment. For instance, companies in the field of engineering are developing a camera-based mine detection system which enables any military vehicle to identify and displace able-mine threats.

3D Printing for the A&D Industry

Big companies in the A&D space are currently concentrating on 3D printing to better the resistance and designs of helicopters, drones, and other machines. 3D printing can be used for rapid prototyping, and it is also possible to create a finished drome using 3D printing.

Blockchain in Shaping Aircraft Manufacturing

Digital technologies, like the blockchain, are being incorporated into aircraft parts and systems to monitor performance, as the manufacturing process is very complicated and specialised. For instance, businesses have begun implementing IoT-driven blockchains to gather details about every component. This aids in the prediction of maintenance events, which optimises production operations and expands the life cycle of different components.

According to the analysis of the industry, in 2022, North America was the largest region in the A&D market, contributing around 33 per cent to the global market. This was closely followed by Asia Pacific, Western Europe, and various other regions. Moving forward, the regions that are predicted to rapidly are Western Europe and the Middle East.

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