The rise in defense budget in the region is driving the Norway additive manufacturing market demand during the forecast period.

The Norway Additive Manufacturing Market size was valued at USD 68.9 million in 2023, and is predicted to reach USD 310.2 million by 2030, at a CAGR of 22.4% from 2024 to 2030. In terms of volume, the market size was 4 thousand units in 2023, and is projected to reach 22 thousand units by 2030, with a CAGR of 25.3% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The rise in defense budget is driving an increased demand for advanced, customizable, and cost-effective solutions to meet the intricate requirements of modern defense systems. Additive manufacturing (AM) sector plays a pivotal role in this scenario by offering rapid prototyping, customized production capabilities, and the creation of lightweight yet durable components crucial for modern defense applications. According to the ITA report 2024, Norway allocates approximately 30% of its defense budget to investments, surpassing the NATO guideline of 20%.

In 2023, Norway's defense spending budget reached approximately USD 8.3 billion. This significant increase in defense expenditure enhances Norway's defense sector capabilities and stimulates the adoption of advanced technologies such as AM for rapid prototyping and manufacturing of robust components.

However, the substantial initial costs associated with AM equipment, materials, and training pose a significant obstacle to the Norway additive manufacturing market growth. This substantial investment presents a major challenge for businesses, especially smaller ones, limiting their ability to enter or expand within the market.

Additional expenses for materials and training further exacerbate the overall financial burden. As a result, many businesses are reluctant to adopt AM technology due to these upfront costs, that ultimately hinders the Norway additive manufacturing market expansion.

On the other hand, integrating AI into AM offers significant potential for driving market expansion by optimizing production processes, enhancing product design capabilities, and enabling the creation of highly customized and complex objects. AI integration allows companies to analyze extensive datasets collected during the printing process, including material properties, printing parameters, and environmental conditions, to identify patterns, optimize settings, and predict potential defects. This results in improved print quality and reduced waste, thereby mitigating some of the financial barriers associated with adopting AM technology.

Request for a sample here: https://www.nextmsc.com/norway-additive-manufacturing-am-market/request-sample

Several key players operating in the Norway additive manufacturing industry include Nordic 3D, Promet, Norsk Titanium, Imerso, Visitech, Ludenso, Sloyd, Ludvigsen 3d Printing, Digible, Stratasys and others.

Key Insights from the Norway Additive Manufacturing Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Norway additive manufacturing market trends is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the Norway additive manufacturing market is provided in the report along with their competitive analysis.