An updated edition of the February 21, 2025 article.
Turning ideas into tangible creations by building one layer at a time with incredible precision — this is 3D Printing in a nutshell. Since its inception in the 1980s, this transformative technology, also known as additive manufacturing, has grown leaps and bounds, reshaping the way manufacturers design, create and produce. By building three-dimensional objects layer by layer from a digital design, 3D Printing has opened the door to a new era of innovation, be it customized prosthetics, machine parts and even buildings to fabricating food or designing jewelry; the possibilities of 3D Printing are endless. Compared with traditional manufacturing, 3D Printing offers advantages in cost-effectiveness, customization, precision and sustainability.
Businesses are increasingly adopting this technology for rapid prototyping and on-demand production, significantly reducing lead times and costs. Xometry XMTR, Proto Labs Inc. PRLB and Stratasys, Ltd. SSYS are some of the top players in this space.
The use of lighter and more durable components, reduced material waste, and faster production cycles make 3D Printing nothing short of revolutionary. It enables the creation of complex shapes and products that traditional methods cannot match. By facilitating localized production, it can cut down supply chains and lower transportation costs. On-demand manufacturing eliminates the need for large inventories, a game changer for industries with fluctuating or seasonal demand or those requiring spare parts quickly.
The 3D Printing technology is, thus, gaining traction across sectors, including healthcare, aerospace, automotive and consumer goods. 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.
The technology is transforming the medical field by producing personalized medical tools and generating prosthetic body parts for patients. It is pushing boundaries even further with advancements in tissue and organ printing, which could one day redefine modern medicine. According to GlobalData analysis, the healthcare 3D Printing global market is set to see a compound annual growth rate (CAGR) of 17.5% between 2024 and 2029, with the Asia-Pacific leading the pace. In 2024, the global market was estimated at $1.17 billion, with North America having the largest share.
Per a Fortune Business Insights’ latest report, the global 3D Printing market is projected to witness a CAGR of 23.4% by 2032 from $19.33 billion in 2024. North America dominates the market, with a share of 41.4% in 2024. India and China are also leveraging this technology to increase their share in global manufacturing competitiveness.
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NVIDIA has significantly influenced the 3D Printing industry by integrating its advanced AI and graphics processing unit (GPU) technologies into various facets of additive manufacturing. Its contributions to 3D printing have become more pronounced in recent years, particularly through collaborations and technological advancements.
A notable example is NVDA’s partnership with HP’s HPQ 3D Printing division, with the latter using NVIDIA’s AI tool, Modulus, to boost efficiency and accuracy in manufacturing. HP has developed Virtual Foundry Graphnet, which helps streamline production by accurately predicting how metal powders will behave during the 3D Printing process, assisting manufacturers in optimizing the process, reducing errors and defects, and improving part quality.
NVIDIA is also backing startups that are pushing boundaries in 3D Printing. For instance, Freeform, a company founded by former SpaceX engineers, secured funding from NVIDIA's venture arm, NVentures, in October 2024. This marks a new beginning in advanced manufacturing, wherein artificial intelligence and hardware-accelerated computing converge to fundamentally redefine metal production. By utilizing NVIDIA's accelerated computing platform, Freeform is building the world's first AI-native, autonomous metal 3D printing factory.
NVDA has developed a generative AI tool called Magic3D, which can create high-quality 3D textured mesh models from text prompts. Another innovation, LATTE3D (Large-scale Amortized Text-To-Enhanced3D Synthesis), is a text-to-3D generator that rapidly creates 3D models, reducing generation time to under a second, leveraging the power of NVIDIA’s RTX A6000 GPU. With this groundbreaking advancement, NVIDIA propelled 3D design into an era of unprecedented efficiency and creativity.
NVIDIA’s Omniverse platform and PhysX engine enable real-time simulation of materials and structures, which are useful for testing a 3D print before actually printing it. NVDA’s NeRFs (Neural Radiance Fields) is an AI model that reconstructs 3D models from 2D photos. This is useful for reverse engineering objects for 3D printing, turning real-world items into printable models, and converting video or image data into detailed 3D meshes. NVDA currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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.
GE 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 has a Zacks Rank #2.
Carpenter Technology formed the Carpenter Additive business unit in May 2019. The company has been building its additive capabilities through the acquisitions of LPW Technology Ltd., Puris and CalRAM over the past few years. 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.
The 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.
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. It currently serves 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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