Additive manufacturing, also known as 3D printing, has emerged as a game-changing technology in the aerospace industry. This chapter provides a comprehensive analysis of the recent advances in additive manufacturing for aerospace applications, focusing on the methods, materials, challenges, and future outlooks. The chapter discusses the various additive manufacturing methods employed in aerospace, including powder bed fusion, directed energy deposition, and material extrusion. It further explores the advanced materials utilized in aerospace additive manufacturing, highlighting the advancements in high-performance alloys, composites, and multi-material systems. The utilization of multiple materials in aerospace AM is explored, addressing the associated challenges and presenting innovative solutions. Moreover, the chapter discusses various aerospace components that have been successfully manufactured using 3D printing technologies. Additionally, this chapter examines the challenges encountered during the additive manufacturing process and explores potential resolutions. Finally, the chapter emphasizes the promising future of additive manufacturing in the aerospace industry, highlighting its potential for further advancements and its positive impact on the aerospace sector. This comprehensive review serves as an invaluable resource for researchers, engineers, and industry professionals interested in the recent developments, challenges, and future prospects of additive manufacturing in the aviation and aerospace industry.