3D printing, with its additive manufacturing principles, is perfectly suited for the high-performance, complex-shaped, and integrated manufacturing demands of the commercial space sector. According to NASA, 3D printing can overcome the limitations of traditional manufacturing processes while offering advantages in performance, cost, and time efficiency. In terms of rocket engines, a significant proportion of applications are already 3D printed overseas, whereas in China, the technology is still in its early stages. The effectiveness and stability of large-scale applications require further validation. Looking ahead, the growth driver for 3D printing in engines will primarily be increased volume (more engines produced), while for rocket fuselages, it will be a dual driver of increased volume (more rocket launches) and higher penetration rates. The main viewpoints are as follows:
Material type, part size, and complexity are the key criteria for selecting specific 3D printing technologies. 3D printing technologies are primarily categorized into seven types, distinguished by their principles and compatible processing materials. As metal materials dominate commercial aerospace manufacturing, PBF and DED, which are suited for metal processing, are currently the mainstream technological paths in this field. Further selection and application between PBF and DED require matching their respective advantages to the dimensions of part size and complexity.
SLM and DED form a complementary relationship in terms of precision and size. PBF, with SLM as its core application direction, offers high resolution and process stability, making it suitable for small, precise, and complex components. However, it is limited by build size. Its core applications include the injectors and copper inner walls of the combustion chambers in rocket engine thrust chambers. DED does not rely on a powder bed; its core advantages lie in manufacturing large-sized components and repairing parts, but its forming precision is lower than SLM. Its core applications include rocket engine nozzles and extensions, the outer walls of thrust chambers, and structural components of rocket fuselages.
Compared internationally, the penetration rate of 3D printing applications in China's commercial space sector is relatively low, indicating significant room for growth. For rocket engines, while other countries have achieved substantial application, China is still in the preliminary phase. In terms of rocket fuselages, the application ratio for the domestic Zhuque-3 rocket is 20%-30%, whereas overseas, Relativity Space has achieved full-rocket manufacturing via 3D printing.
3D printing is expected to see an incremental market opportunity approaching 80 billion yuan. The development of China's commercial space industry has accelerated in recent years. By the end of 2025, China applied for a network of 203,000 additional satellites, indicating rising long-term demand for low-earth orbit constellations, which will drive rapid growth in rocket launch capacity. Estimates suggest that by 2030, the application scale of 3D printing in China's rocket sector could reach 25.9 billion yuan under an 80% penetration rate scenario, with a long-term potential of 79.7 billion yuan. However, the industrial-scale application of 3D printing currently faces multi-dimensional challenges.
Regarding investment targets, Jiangshun Technology is recommended, while Huashu Hi-Tech, Nanfeng Group, and Feiwo Technology are suggested for attention. Huashu Hi-Tech is a leading industrial-grade 3D printing equipment manufacturer, with its technology increasingly applied in core aerospace scenarios, positioning it as a key player in the supply chain poised to benefit from the industry's growth. Jiangshun Technology's primary business is aluminum profile extrusion molds and equipment. Through investments and joint ventures, it has entered the additive manufacturing field, focusing on applying DED and multi-metal composite processes to rocket engines and large structural components, with potential for expansion into new areas like 3D printing and liquid cooling.
Risks include intensifying competition, potential delays in technological development and adoption, and slower-than-expected development of the commercial space industry.
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