The giant 3D printer will offer several advantages throughout the manufacturing process, which will enable engineers to design parts with high complexity within a shorter period, In addition to deploying advanced technology to develop large-scale boats, aerospace, and products to meet increasing demands across the globe.
Based on market research, additive manufacturing is projected to have an annual growth of 30% over the coming five years, as its market size was valued at $13.84 billion (AED 50.80 billion) in 2021 and is likely to stand at $44.03 billion by 2027.
Moreover, additive manufacturing has a major effect on the industry, particularly in the maritime sector worldwide.
Al Seer Marine's announcement aligns with the rapid growth and transformation of the global maritime industry, as there is a significant demand to produce large fleets of boats in a short span of time.
Al Seer Marine aims to bridge the gap in large-scale manufacturing opportunities across the region and overseas. The UAE-based firm is forecast to utilise the machinery by at least 32% in 2023 and up to 91% in 2027. This is in addition to an annual estimated turnover of more than AED 30 million.
The Gulf nation is regarded as one of the largest markets in the world for aerospace and civil and military aircraft. Therefore, Al Seer Marine will focus on aerospace customers due to the robust demand for aircraft equipment, parts, and services.
Guy Neivens, CEO of Al Seer Marine, said: “This is a transformational approach to the maritime sector’s production and will see huge growth.”
“We have seen the positive result of additive manufacturing in industry such as the aerospace and we believe the maritime to be next in line,” Neivens added.
The CEO noted: “While North America dominates the global additive manufacturing market share and is expected to remain dominant in the market throughout the forecast period, with MEGA II we see great potential to be the leader in the [Middle East and Africa]MEA market by taking advantage of our geographical location and delivery time.”
Last November, Al Seer Marine unveiled AED 643 million investment in four new IMO II/III product tankers in line with its global expansion strategy.