Previously, bringing ideas to life and creating objects with the click of a button felt like something out of a sci-fi movie. However, with the advent of 3D Printing technology in the 1980s, it has become a reality. Also known as additive manufacturing (AM), it builds three-dimensional objects layer by layer from a digital design.  From creating customized prosthetics, machine parts or intricate architectural models to fabricating food or designing jewelry, the possibilities of 3D Printing are endless. Also, 3D Printing has an edge over traditional manufacturing in terms of cost-effectiveness, customization, precision and sustainability.

Businesses are increasingly adopting this technology for rapid prototyping and on-demand production, significantly cutting lead times and costs. Xometry XMTR, Proto Labs Inc. PRLB and Stratasys, Ltd. SSYS are some of the top names in this space. Even tech giants such as Microsoft MSFT and HP HPQ have entered the markets to ride on the popularity.

The use of lighter and more durable components, reduced material waste, and faster production cycles make 3D Printing a game-changer. It can create complex shapes and products that traditional methods cannot achieve. By facilitating localized production, it can cut down supply chains and lower transportation costs. On-demand manufacturing eliminates the need for large inventories. This is particularly beneficial for industries with fluctuating or seasonal demand or those requiring spare parts quickly. 

These varied advantages are driving the adoption of 3D Printing technology across a wide range of industries – healthcare, aerospace, automotive and consumer goods (to name a few). In aerospace, it is used to make lightweight yet robust components for aircraft and spacecraft. In automotive, the process can be used to produce prototypes, tooling and even customized car parts.  3D Printing is being considered essential in the medical field for producing personalized medical tools and generating prosthetic body parts for patients. The application of printing technology in the creation of tissues and organs is advancing, which is expected to revolutionize healthcare.

According to Fortune Business Insights’ latest report, the global 3D Printing market size was $19.33 billion in 2024 and is projected to grow, seeing a CAGR of 23.4% by 2032. North America currently dominates the global market, with a share of 41.39% in 2024. India and China are also leveraging this technology to increase their share in global manufacturing competitiveness.

We believe that 3D Printing offers significant growth opportunities for investors, banking on strong prospects, inherent advantages and exposure to solid end markets. Our 3D Printing Screen makes it easy to identify high-potential stocks. Currently, stocks like GE Aerospace GE, Carpenter Technology CRS and Proto Labs look lucrative.

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Three 3D Printing Stocks to Buy

GE Aerospace is considered one of the leading proponents of additive manufacturing. Since the 1980s, the company has been engaged in additive manufacturing research. The acquisition of a small additive company, Morris Technologies, in 2012 transformed GE’s approach to designing, leading to the first complex component made “additively” for the production of a jet engine. GE Aerospace subsequently boosted its additive manufacturing prowess in 2016 through two more acquisitions of Arcam AB and Concept Laser in Europe.

GE offers industrial metal 3D printers, powders and services to customers through its Colibrium Additive business. It produces several key components for LEAP and GE9X engines. According to GE, 3D Printing has enabled the GE9X engine to be 10% more fuel efficient than the GE90. Also, each of GE Aerospace’s LEAP engines includes 3D Printed fuel nozzles and has increased fuel efficiency by 15% compared with CFM56 engines. 

As part of its 2024 investment plan, the company earmarked $54 million for its Auburn, AL-based facility for additional 3D Printing machines and tooling to increase the production of military rotorcraft engine components, along with narrow and widebody commercial aircraft engines.

The company also allocated $107 million to facilities in the greater Cincinnati region for additive manufacturing machines, tooling and equipment. This will allow GE Aerospace to increase the production capacity of engines used in commercial aircraft, and U.S. and allied military helicopters and fighter jets. GE currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology built its additive capabilities through the acquisitions of LPW Technology Ltd., Puris and CalRAM, and formed the Carpenter Additive business unit in May 2019. In late 2019, it opened its Emerging Technology Center in Athens, AL, with the capability to atomize a range of specialty alloys into metal powder and manufacture the powder into finished parts using AM technology (3D metal Printing). Its downstream equipment for taking the initially produced part to a final finished product included the state-of-the-art quick cooling Hot Isostatic Press system, as well as vacuum heat treating to optimize the material properties of high-value specialty alloy components.

Carpenter Additive business is one of the world's most versatile producers of spherical, gas atomized, pre-alloyed metal powders and consolidated powder metallurgy products. The powders meet the unique demands of additive manufacturing, metal injection molding, hot isostatic pressing, near-net shapes, surface enhancement processes and tool steels.

Starting from powder production to manufacturing and finishing parts, the end-to-end capabilities differentiate Carpenter Additive from the rest of the industry. CRS currently carries a Zacks Rank #2 (Buy).

Proto Labs is considered the world’s fastest digital manufacturing source for rapid prototypes and on-demand production parts. It has 25 years of additive manufacturing expertise, with more than 250,000 parts printed each month, and currently serving more than 50,000 product developers.

In 2014, the company launched 3D Printing services to simplify the transition from early prototyping to low-volume production. In April 2014, the company strengthened 3D-Printing technologies through the acquisition of FineLine. PRLB expanded its 3D Printing capabilities in October 2015 with the buyout of Alphaform.

In September 2024, Proto Labs expanded its 3D Printing capabilities with the launch of an advanced photopolymers technology. Axtra3D Hybrid PhotoSynthesis (“HPS”) offers highly repeatable and finely detailed 3D Printed parts at accelerated speeds. HPS uses a precision laser and digital light processing system to simultaneously image internal and external part structures — a dual 3D Printing approach that overcomes traditional limitations.

Proto Labs currently provides an online 3D Printing service that enables customers to print their requirements into plastic, metal and elastomeric parts. In 2024, PRLB’s 3D Printing service generated around $84 million in revenues. With more than 120 3D printers, Proto Labs has an unmatched capacity that reliably delivers parts within days. It also offers several post-processing options to improve cosmetics or enhance mechanical properties. PRLB has a Zacks Rank #2 at present.

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Stratasys, Ltd. (SSYS) : Free Stock Analysis Report

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Proto Labs, Inc. (PRLB) : Free Stock Analysis Report

Xometry, Inc. (XMTR) : Free Stock Analysis Report

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