Economic Development

study guides for every class

that actually explain what's on your next test

Additive manufacturing

from class:

Economic Development

Definition

Additive manufacturing, often referred to as 3D printing, is a process of creating objects by layering materials based on digital models. This technology allows for the rapid prototyping and production of complex geometries, enabling customization and reducing material waste, which is especially important in the context of modern industrial practices and economic development.

congrats on reading the definition of additive manufacturing. now let's actually learn it.

ok, let's learn stuff

5 Must Know Facts For Your Next Test

  1. Additive manufacturing can significantly lower production costs by minimizing material waste and reducing the need for complex assembly processes.
  2. This technology allows for localized production, which can empower developing economies by enabling small businesses and entrepreneurs to create products without large investments in traditional manufacturing facilities.
  3. Additive manufacturing supports innovation in industries such as healthcare, where custom implants and prosthetics can be produced tailored to individual patients.
  4. The environmental impact of additive manufacturing is generally lower compared to traditional manufacturing methods, as it uses only the necessary materials for production.
  5. As part of the Fourth Industrial Revolution, additive manufacturing is driving advancements in automation and smart technologies, contributing to the transformation of manufacturing processes globally.

Review Questions

  • How does additive manufacturing differ from traditional manufacturing processes in terms of material usage and production efficiency?
    • Additive manufacturing differs from traditional processes mainly in its material usage, as it builds objects layer by layer using only the necessary amount of material. This approach minimizes waste compared to subtractive methods that cut away material to create parts. Additionally, it enhances production efficiency by enabling rapid prototyping and customization, allowing companies to bring products to market faster while optimizing their resources.
  • Discuss the potential impact of additive manufacturing on small businesses and entrepreneurs in developing economies.
    • Additive manufacturing has the potential to significantly impact small businesses and entrepreneurs in developing economies by providing them with accessible tools for production. With 3D printing technologies, these businesses can create customized products without the high costs associated with traditional manufacturing setups. This localized production fosters innovation, reduces reliance on imports, and can stimulate economic growth within communities, empowering individuals to meet local market demands effectively.
  • Evaluate how additive manufacturing could influence global supply chains and economic development in emerging markets.
    • Additive manufacturing could profoundly influence global supply chains by enabling decentralized production, which reduces dependence on traditional large-scale factories and long shipping routes. In emerging markets, this technology can facilitate local production capabilities, enhancing self-sufficiency and allowing countries to adapt quickly to changing market demands. As businesses leverage additive manufacturing, they can innovate faster, reduce costs, and improve competitiveness in the global market, driving economic development and creating new job opportunities within those regions.

"Additive manufacturing" also found in:

Subjects (63)

ÂĐ 2024 Fiveable Inc. All rights reserved.
APÂŪ and SATÂŪ are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
Glossary
Guides