Hybrid Additive Manufacturing Machine Market Size

Hybrid Additive Manufacturing Machine Market Analysis

The Hybrid Additive Manufacturing Machine Market size is estimated at USD 215.78 billion in 2024, and is expected to reach USD 437.27 billion by 2029, growing at a CAGR of 15.17% during the forecast period (2024-2029).

The market is driven by the increasing demand from the aerospace, defense, and automotive industries.

Hybrid manufacturing is the process of putting both subtractive and additive processes into a single machine. The market is mostly driven by the fact that both processes can be done on one machine. This is especially true in the aerospace, defense, and automotive industries. It makes manufacturing effortless with the capability to switch between two processes instantly. Although the technology is relatively new, much like 3D printing, the potential benefits of hybrid additive manufacturing have made the adopters of the technology very optimistic about the technology’s prospects. The COVID-19 epidemic halted the production of several items in the hybrid additive manufacturing machine sector, mostly because of the extended lockdown in important international markets. This severely slowed the market growth for hybrid additive manufacturing equipment during the past several months. COVID-19 impacted equipment and machinery sales in the first quarter of 2020, and market growth suffered throughout the year.

Hybrid manufacturing also makes parts as they are needed, so there is no need to keep expensive and space-consuming stock. With hybrid additive manufacturing, manufacturers can produce custom materials and rapid prototypes and provide an opportunity for new products and better efficiency. Recently, in January 2023, the US Navy installed a Phillips additive hybrid metal 3D printing solution on USS Bataan. Also, using this equipment in different industries helps to reduce the bad effects on the environment. The hybrid production processes release fewer chemical and hazardous pollutants and account for a major reduction in the carbon footprint.

Also, hybrid additive manufacturing makes up for some of the flaws of the additive manufacturing system by using multi-axis systems that let the parts being made move in any direction. Also, 95% waste reduction, better efficiency, capabilities for process development and material characterization, and material and material cost savings, etc., are some of the major benefits that are further augmenting the adoption of hybrid additive manufacturing machines across sectors. However, high initial investments and installation costs associated with these machines are hindering market growth. Further, SMEs and manufacturing companies with low investment capabilities are unable to deploy the machinery due to the high initial investment costs.

Additionally, the machines require skilled and well-trained labor to operate them. To maintain equipment performance and eliminate system breakage issues, companies need to incur huge costs to provide professional training sessions for workers. Nikon Corporation (Nikon) has disclosed a recent investment in Hybrid Manufacturing Technologies Global, Inc. An integration technique that enables users to integrate additive tools onto any platform was successfully developed by Hybrid Manufacturing Technologies Global, Inc. (HMT), an award-winning industry leader in additive manufacturing (AM). By combining several complementary technologies in a single setup, this ground-breaking solution enables users to fully use the production process.