MUMBAI: Kerala-based Peekay Group has signed a pact with Bengaluru Airport City Ltd (BACL) to develop a 3D printing technology facility at the airport city that is being developed at the Bengaluru airport premises, according to a statement released said on Friday.
A wholly-owned subsidiary of Bangalore International Airport Limited (BIAL), BACL was formed to develop the airport city at the Bengaluru airport, consisting of business parks, health district, retail dining and entertainment village.
Besides, it will also house concert arena, convention and exhibition centre, knowledge park, hospitality and central park.
The facility, planned by Peekay Group, will house a production centre as well as an experience zone to learn 3D printing and ideate for innovative solutions, as per the statement by BIAL.
In addition, it will be used to train technology experts, upgrade skills, increase awareness of various 3D printing applications, which will help in engaging youngsters in this new era of technology-driven manufacturing, BIAL said.
"Peekay is driven by a purpose to create value for all its stakeholders. We are moving ahead with its purpose and vision with this current investment with BACL," K E Shanavaz, joint managing director of PeeKay Steel Castings.
He added that Peekay is investing in a standalone technology centre at the airport city to diversify its business into new areas like aerospace, healthcare, renewable energy and transform itself as a tech-driven manufacturing company globally.
"We would be incorporating metal printing in addition to sand and ceramic in future expansion."
3D printing, also known as additive manufacturing, has wide applications, including architecture, construction, automotive, aerospace, military, biotech (human tissue replacement) jewellery and education.
The global 3D printing market size is estimated to reach USD 62.79 billion by 2028.
It is expected to witness a compound annual growth rate (CAGR) of 21 per cent between 2021 and 2028.
McKinsey estimates additive manufacturing could have an economic impact of USD 550 billion annually by 2025, according to BIAL.
BACL Chief Executive Rao Munukutla said, "We are delighted to partner with the Peekay Group to develop a state-of-the-art 3D printing technology facility as part of our airport city."
Munukutla added that Bengaluru is emerging as one of the world's leading tech innovation hubs.
"At BACL, our focus will be to continue partnering with companies in the fields of advanced electronics manufacturing, robotics and artificial Intelligence, space technology, 3D printing, quantum computing, chip design, among others. The giant 3D sand printing machine, VX-4000 from Voxeljet, that will be installed at airport city would be the first-of-its-kind globally. This will be most efficient and environment-friendly with no carbon emissions (in line with Bangalore International Airport Limited's sustainability framework)," BIAL said.
Peekay Group has signed a memorandum of understanding with the German machine manufacturer Voxeljet to train technocrats, upgrade skills, increase awareness of various additive manufacturing technologies in the world, it said.
"VX4000 is the largest sand 3D printer in the world, and this will be the first VX4000 installation worldwide for an integrated training centre and service facility. This opens up many possibilities for academia as well as industry to experience the technology first-hand," said Rudolf Franz, chief operating officer and chief financial officer at Voxeljet AG.