Global Advanced Manufacturing Market Size, Share & Trends Analysis Report, By Technology, By End User, By Region Forecasts, 2023 – 2030

Global Advanced Manufacturing Market Size, Share & Trends Analysis Report, By Technology, By End User, By Region Forecasts, 2023 – 2030

The Advanced Manufacturing Market was amounted at US$ 220.8 billion in 2022 and is projected to grow to US$ 754.25 billion by 2030 at CAGR of 15.87% during 2023-2030.

Throughout the forecast period, a number of critical elements will propel the expansion of the global advanced manufacturing market. These include an emphasis on boosting Industry 4.0 adoption and improving industrial processes' productivity, efficiency, and inventiveness. In addition, it is anticipated that the demand for cost cutting, increased efficiency, and the spread of digital transformation will support market growth. However, over the projected period, concerns about data security and privacy as well as the requirement for a large initial investment will impede market expansion. The market has significant development potential due to factors like government initiatives and policies that support the industry as well as technical advances and advancements. The lack of standardisation in advanced manufacturing technologies and the integration of these technologies into current production systems, however, are anticipated to present difficulties for the expansion of the worldwide advanced manufacturing market.

“Additive manufacturing segment, by technology, to be dominating market from 2023 to 2030.”

3D printing, also referred to as additive manufacturing, is a cutting-edge technology in advanced manufacturing. Additive manufacturing builds things layer by layer from digital models, in contrast to traditional subtractive manufacturing techniques, which entail moulding or cutting material to form a product. The additive manufacturing sector has seen major advancements in recent years from global governments and commercial participants. For example, PostProcess Technologies and EOS established a distribution agreement in October 2022 to offer EOS clients a fully automated and durable depowering solution. The objective of the Variable Acoustic Displacement (VAD) technology solution is to improve the EOS printer product range and automate bulk depowering for 3D produced products. Through increased client accessibility to post-printing technologies, the partnership enables full process digitization. Additionally, the Indian national government's Department of Empowerment of Persons with Disabilities (DEPWD) declared in August 2022 that it will replace the prevalent manual customising of gadgets with 3D printing technology. This is intended to enhance quality of life and enable more accuracy in assistive technology, including prosthetic limbs and spinal braces. This endeavours to enhance the mobility of those with limitations related to locomotion. Throughout the projection period, these advancements are anticipated to support the segment's expansion in additive manufacturing.

“Aerospace and defense segment, by end user, to be dominating market from 2023 to 2030.”

One important market for sophisticated manufacturing technology has been the aerospace and defence sector. This includes using precision machining for important aircraft parts, innovative materials, and additive manufacturing for lightweight components.

“North America to be largest and fastest growing region in advanced manufacturing market.”

The majority of market players are present in North America, which contributes to the region's dominance. Other factors include the early adoption of new and advanced technology, technological innovations and advancements, the growth of the automation and robotics industries, the expansion of digital transformation, and others. As an example, Nikon Corporation declared in 2023 that Nikon Advanced Manufacturing, Inc. will be established. The Advanced Manufacturing Business Unit was established in April 2023, and its worldwide head office is this new customer-focused digital manufacturing solutions organisation, which is based in California. With the company's launch, the Medium-Term Management Plan's (FY2022–2025) Nikon Vision 2030 strategy plan has achieved a significant turning point. The California location unites a highly skilled, inclusive, and varied staff committed to the company's and its clients' success. Additionally, it provides close proximity to partners and consumers in the aerospace, space, and defence sectors. Additionally, in 2022, the U.S. Pharmacopoeia (USP) announced the opening of the USP Advanced Manufacturing Technology Lab in Richmond, Virginia, in conjunction with the release of a variety of R&D analytical solutions. These analytical lab services support pharmaceutical companies' efforts to implement advanced manufacturing technologies, such as pharmaceutical continuous manufacturing (PCM), which is one way to improve supply chain resilience and diversify the geographical location of pharmaceutical manufacturing. These factors should encourage the growth of the Advanced Manufacturing sector in North America in the future years.

Advanced Manufacturing Competitive Landscape

The competitive landscape of the Advanced Manufacturing market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Advanced Manufacturing technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Advanced Manufacturing market is highly competitive, with numerous companies vying for market share. Prominent companies in the Advanced Manufacturing Market include:

ABB Ltd., Abbvie, 3D Systems Corporation, Archer Daniels Midland Company, Fanuc Corporation, General Electric, Biogen, Eos Gmbh, Glaxosmithkline, Hexagon AB, IBM Corporation, Kuka AG, HP Inc, Lockheed Martin Corporation, Nvidia Corporation, Renishaw PLC, Rockwell Automation, Inc, Micron Technology, Inc, Rolls-Royce Corp., Siemens AG, Sierra Wireless Inc, Stratasys Ltd, Sicepheus Systems Gmbh, Tesla, Inc, The ExOne Company and others.

Recent Developments:

November 2023: AMDroid and Hybrid3, two state-of-the-art production platforms from ADDiTEC, a pioneer in advanced metal additive manufacturing, are poised to disrupt standards in the industry for precision, efficiency, and versatility. The portable AMDroid makes multi-axis, large-scale reactive and non-reactive part printing possible by utilising a robotic architecture contained in a welded enclosure. This makes forward-deployable, on-demand manufacturing a reality. CNC machining is seamlessly integrated with liquid metal jetting (LMJ) and laser directed energy deposition (LDED) capabilities in ADDiTEC's Hybrid3. This powerful synergy increases the standard for advanced production by enabling speed, precision, and material diversity.

November 2023: Asensus Surgical, Inc., a medical device business, stated that it has established a design and advanced manufacturing services deal with Flex, a diversified manufacturer, to usher in a new era of Performance-Guided SurgeryTM. The arrangement concerns the next-generation surgical robot platform, Asensus's previously announced LUNA Surgical System.

The National Manufacturing Innovation Institute (MII) and public-private partnership will be run by LIFT for the next five years, thanks to a new cooperative agreement that was signed in May 2023 between the Department of Defence Manufacturing Technology (ManTech) Programme and LIFT, the Department of Defence manufacturing innovation institute located in Detroit. The collaboration wants to keep developing skills and using cutting-edge manufacturing technologies.

December 2022: The U.S. Pharmacopoeia (USP) announced the opening of the USP Advanced Manufacturing Technology Lab in Richmond, Virginia, in conjunction with the release of a variety of R&D analytical solutions. These analytical lab services support pharmaceutical businesses' efforts to develop pharmaceutical continuous manufacturing (PCM), one strategy to improve supply chain resilience and diversify pharmaceutical manufacturing globally.

August 2022: GlobalFoundries (GF) revealed that its strategic global long-term semiconductor production arrangement, previously signed by Qualcomm and GF's respective subsidiaries, will be more than doubled. In addition to securing wafer supply, the statement pledges to support manufacturing in the United States by increasing capacity at GF's most advanced semiconductor manufacturing facility located in Malta, New York.