Stratasys SSYS steps into the future by unveiling its new Industrial Customer Advisory Board, leading the charge in fostering collaboration and gathering essential insights in the additive manufacturing realm. The company’s strategic move is poised to inject fresh innovation into the industry.
Comprised of a dozen members representing top-tier manufacturers in Aerospace, Automotive, and Industrial Manufacturing, alongside reputable research institutions, the Industrial Customer Advisory Board boasts illustrious participants including giants like Boeing, TE Connectivity, and Toyota Motor TM. Renowned academic entities such as the National Institute for Aviation Research (NIAR) at Wichita State, University of Texas El Paso, and Milwaukee School of Engineering also join this prestigious group.
Working in close quarters with executives at Stratasys, the Customer Advisory Board actively exchanges insights on crucial areas like scalable manufacturing applications, quality enhancements, characterization data, and sustainable strategy development.
The inaugural workshop held in December kickstarted this collaborative endeavor, with subsequent workshops slated throughout 2024 and beyond. This ongoing partnership with industry leaders promises to steer remarkable progress in additive manufacturing.
This significant development is primed to bolster Stratasys’s revenue trajectory in the upcoming quarters, positioning the company to cement a strong foothold in the market.
The Zacks Consensus Estimate for SSYS’s 2024 revenues stands at $637.35 million, projecting a 1.55% year-over-year growth. Similarly, the consensus estimate for 2024 earnings hovers at 25 cents per share, signaling a remarkable 127.27% year-over-year surge.
Navigating Competition Through Innovation: Stratasys’s Recent Strides in Additive Manufacturing
Steering through competitive waters, Stratasys unveils two new software packages – GrabCAD Streamline Pro and an updated iteration of GrabCAD Print Pro tailored for PolyJet. These innovative software offerings harness the capabilities of Stratasys’s GrabCAD platform to empower customers in fostering efficiency and trimming costs through streamlined workflows.
The upgraded GrabCAD Print Pro, catering to both FDM and SAF technologies, has already demonstrated substantial benefits for users, boosting hardware utilization by 30-50%. By enhancing part handling and processing organization, customers now gain enhanced flexibility to expand their additive manufacturing endeavors.
On another front, Stratasys recently sealed the deal on acquiring Arevo’s technology portfolio, inclusive of its Intellectual Property assets. Formerly headquartered in Silicon Valley, Arevo, Inc. ceased operations in 2023.
This acquisition encompasses pivotal patents related to carbon fiber printing, amplification of Z-strength via localized laser melting and roller compaction, real-time printing monitoring through Artificial Intelligence, and hardware design. Leveraging this technology within Stratasys’s FDM print systems, the company aims to broaden the spectrum of manufacturing applications available to its clientele.
These recent strides in additive manufacturing epitomize an ambitious push by Stratasys to fend off competitors.
While shares of this present Zacks Rank #4 (Sell) company have witnessed a 17.1% year-to-date decline, compared to the Computer and Technology sector’s robust 11.5% surge, the 3D printing market poses fierce competition from stalwarts like Altair Engineering ALTR and 3D Systems DDD.
Altair Engineering’s ascent in the 3D printing domain owes much to its advanced simulation tools. Notably, Inspire Print3D has emerged as a game-changer, streamlining and cutting costs associated with product development. The collaboration with Gen3D further amplifies Altair Engineering’s 3D printing prowess, cementing its position in the industry.
Specializing in printers and design software across industries such as medical devices, dental labs, semiconductors, aerospace, and automotive manufacturing, 3D Systems emerges as a key contender among independent 3D printing firms. Leveraging vast expertise and global outreach, 3D Systems anticipates significant growth avenues given the expanding landscape of the 3D printing sector.
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The expressions and opinions detailed here represent the author’s views and do not necessarily mirror those of Nasdaq, Inc.
