A New Type of Additive Manufacturing is About to Transform Industries, Save Money and Deliver Investor Returns

By Benny Buller, CEO of Velo3D

The past two years have brought a marked rise in 3D printing, also known as additive manufacturing. Steadily, this technology is transforming economies and markets. Now, it’s poised to become an even bigger force in the year ahead, with the opportunities going far beyond what many business leaders have yet realized.

During the Covid-19 pandemic, 3D printing has been “used to provide many different solutions… ranging from personal protective equipment (PPE) to emergency dwellings to isolate patients,” as well as masks, testing devices and more, a study published by Nature reported. NP swabs used for testing have been printed, as have ventilator valves and much more.

Meanwhile, supply chain issues wreaking havoc across numerous industries have led executives to explore new ways to source the materials they need. As ZDNet put it recently, “The global supply chain is a complete mess, and that may create a nice inflection point of adoption for additive manufacturing.”

I’ve seen this in the work we do at Velo3D (VLD). From aerospace to aviation to energy and more, the sectors we work with are reliant on manufacturing. They’ve discovered that metal 3D printing offers tremendous advantages. By having parts printed in accessible areas, rather than shipped from factories across the globe, companies can get a hold of what they need much sooner without the bottlenecks that can create massive delays.

So it’s little surprise that analysts expect further growth in the years ahead. The for additive manufacturing and material, estimated at $15.4 billion in 2020, is expected to reach $61.1 billion by 2027, according to a recent analysis.

I expect new developments in this field to make the growth even bigger than this prediction suggests. That's because metal 3D printing is entering a whole new era -- one in which it can do things that were previously thought to be “impossible.” New technology has arrived.

Beyond DfAM

Until recently, industries have had to redesign parts in order to make them printable. This is called design for additive manufacturing (DfAM). Engineers have had to design based only on a limited set of shapes that 3D printers could handle. And parts have had to be printed with additional supports inside, requiring extensive post-processing -- and impacting performance.

Several years ago, I tasked my team with a challenge: Let’s find a way to print “impossible” parts -- that is, the kinds of parts that up until now have been deemed impossible to create. After lots of hard work, trial and error, we arrived at a solution.

Now, engineers can get the parts they want and need without necessary redesign and support structures that DfAM has required. Moreover, they now create new kinds of parts that used to live only in their imaginations. They benefit from enhanced geometric flexibility, traceable part quality and accuracy, decreased production time, and lower cost.

Adoption is just beginning

Enterprises like SpaceX and Honeywell were among the first to take on this new kind of additive manufacturing. In a series of case studies, my team has also explored how a range of companies are doing the same.

Take IMI Critical Engineering, an energy company that needed a way to provide key replacement parts reliably and quickly to its facilities across the world. Stockpiling an inventory at every location was extremely expensive, as was redesigning new parts from scratch. But with additive manufacturing, IMI found it could now print exactly what it needs without redesign and without compromising quality or performance. Or take Hanwha Power Systems, which discovered it could print turbomachinery 80% faster and with 90% less material needed than with DfAM.

It isn’t just large companies that stand to benefit. As the National Institute of Standards and Technology (part of the U.S. Department of Commerce) notes, metal additive manufacturing can repair high-value parts more cost effectively.

Meanwhile, 3D printing can also help in one of the most important tasks of our time, fighting climate change. As Fortune notes, metal 3D printing “negates the need for separate parts to be individually packaged and then later assembled—the waste from the traditional machine shop floor is eliminated and only the product itself is manufactured.”

Mohawk Innovative Technology and Sierra Turbines are among the companies that have found their alternative energy and efficiency solutions benefit tremendously from 3D metal printing.

Still, as I mentioned in my most recent earnings call, I believe we have barely scratched the surface of the high value metal parts market. Customers are only starting to transform their respective industries through this new system.

Investors would do well to ask corporate leaders what they have in store for additive manufacturing, and what projects are currently being tested. It’s a new “wild west,” offering widespread advantages -- and the businesses that move most quickly will reap the most rewards.

Benny Buller is founder and CEO of Velo3D, the world's most advanced metal additive manufacturing solution, which allows businesses to achieve previously impossible designs and outcomes, without compromise.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.