方正证券：3D打印有望快速渗透 带动商业航天业降本&设计创新

Core Insights - 3D printing technology is essential for meeting the design and construction needs of new configurations in the aerospace sector, although it faces technical challenges such as anisotropy, material limitations, and production efficiency [1][2][3] Market Overview - The global additive manufacturing market is projected to reach $21.9 billion (approximately 158.8 billion RMB) in 2024, reflecting a year-on-year growth of 9.1% [3] - The 3D printing rocket market is expected to have a compound annual growth rate (CAGR) of 22.84%, with revenues reaching approximately $2.9 billion by 2032 [3] Technology and Applications - Metal additive manufacturing technologies have developed various processes, including Selective Laser Melting (SLM), Laser Metal Deposition (LMD), Electron Beam Melting (EBM), and Wire Arc Additive Manufacturing (WAAM), among others [1] - The use of additive manufacturing can reduce the costs of complex components like rocket engines by 20% to 33%, achieved through improved material utilization, design optimization, and integrated components [2] Industry Participation - Both domestic and international 3D printing technologies are deeply involved in aerospace design and construction, with companies like Plitec providing critical component manufacturing services for multiple rocket launch missions [3] - The advanced metal 3D printing process used in engines like Raptor3 has resulted in a 7% weight reduction and a 21% increase in thrust compared to Raptor2, showcasing the technology's impact on performance [3] Investment Opportunities - Companies to watch in the 3D printing services and components sector include Plitec, Yinbang Co., Feiwo Technology, Jiangshun Technology, and Nanfeng Co. [4] - In the 3D printing equipment sales sector, notable companies include Huazhu High-Tech and Aisikai, while material suppliers include Yuyuan Powder Materials, Srey New Materials, and Kaisheng New Materials [4]