SEOUL, July 30 (Korea Bizwire) — Power plant builder Doosan Heavy Industries & Construction Co. said Thursday that it has obtained approval for aerospace-related 3D printing technology from Lloyd’s Register, a British quality assurance and risk management company.
“The approval will help expand Doosan Heavy’s 3D printing technology to aerospace parts from power plant parts,” Doosan Heavy said in an emailed statement.
Doosan Heavy said it aims to increase annual sales in the 3D printing-related sector to post more than 200 billion won (US$168 million) from 2025.
Global 3D printing market researcher SmarTech Analysis predicted the global metal printing market to rapidly grow up to $10 billion in 2024 from $590 million in 2018.
After introducing 3D printing technology to produce power-generating parts such as gas turbines in 2014, Doosan Heavy has been building a parts factory using 3D printing technologies in Changwon, 398 kilometers southeast of Seoul, the company said.
In early July, Doosan Heavy sold its golf course Club Mow to overcome its cash shortages caused by poor management and decreased orders in its main power plant building business.
Between March and June, two state-run banks — the Korea Development Bank (KDB) and the Export-Import Bank of Korea (Eximbank) — injected a total of 3.6 trillion won into the group’s power plant builder Doosan Heavy to keep it afloat, as the group drew up a 3 trillion-won self-rescue plan.