In the past few years, Additive Layer Manufacturing (ALM) utilisation has increased significantly. The high cost of manufactured products is the main barrier for the implementation of this technology in mass production. This implies that companies need to search the cost-efficient way to remain competitive. The aim of this study is to develop a cost model and software tool while addressing the issues and challenges confronted in the previous developed AM cost models. It focuses on two processes viz. Selective Laser Sintering (SLS) and Electron Beam Melting (EBM). Despite the current high initial investment, a growth of these technologies in various sectors such as aerospace, automotive, medical and electronics has driven a decrease of the machine purchase price. In addition, this growth has reduced the manufacturing cost, owing to the learning curve effect. A high-level cost model has been developed to combine cost information of SLS and EBM processes for metals. The software tool analyse the data through cost model and gives trends and current distribution of the main cost drivers; both the machine cost and material cost decreased slightly, however, post-processing cost increased significantly and became the second highest cost. This study enhances the ALM development in industries giving a new insight and details of the current state of this new technology. Moreover, it will benefit the industries in ALM market knowledge in terms of manufacturing costs.