- Additive
manufacturing for automotive production expected to reach nearly $10 billion
in yearly sales by 2030
- Forecasts
based primarily on automotive 3D-printing, end-use parts production
- SGLB’s
proprietary, real-time, computer-aided, inspection technology enables
nondestructive quality assurance during production process
Forecast to see explosive growth in the automotive industry
by the year 2030, additive manufacturing (3D printing) provides numerous
benefits to auto manufacturers. Much of the anticipated growth is expected to
come from end-use parts production, an area where Sigma Labs Inc. (NASDAQ: SGLB), the only known producer of
quality assurance software for the commercial 3D-printing industry, may provide
significant advantages.
A recent 3D Printing Media Network article by Davide Sher
reported that “all revenue streams associated to AM for automotive production
(not including prototyping) are now expected to add up to nearly $10 billion in
total yearly sales by the end of this decade.” This graph illustrates the
phenomenal growth projections (http://ibn.fm/TqZG4).
These projections are based primarily on automotive
3D-printing in end-use parts production, which industry experts say is now
fully within reach and is going to enable additive manufacturing to finally
scale up. The term “end-use parts” indicates both final automotive parts and
tools, including molds, dies, jigs and fixtures as well as custom assembly
tools that are used in the automotive production process.
Even with the $10-billion industry forecast, the 3D Printing
Media Network article noted that the value proposition for additive
manufacturing in automotive mass production may still be difficult to
accurately quantify. “The difference is that until a few years ago, this value
proposition was almost nonexistent (except for prototyping and some tooling),”
wrote Sher. “Now the value proposition exists, and its potential is very
significant.”
Sigma Labs is well positioned to exploit and help support
the forecast burgeoning growth of 3D metal printing in the automotive space. An
industry pioneer and leader in 3D printing software, Sigma Labs has developed a
proprietary, real-time, computer-aided, inspection (CAI) technology,
PrintRite3D(R), that enables nondestructive quality assurance during the
production process. Representing a breakthrough in technology, PrintRite3D is
the only real-time, in-process, quality-assurance software for the commercial
3D metal printing industry. With explosive potential of 3D printing in the
automotive space, SGLB’s revolutionary technology could be an essential catalyst
of the expected growth.
Sigma Labs was founded in 2010 and has since become the
go-to, 3D-printing expert for real-time, computer-aided inspection (CAI)
solutions. Managed by experts from many different science disciplines such as
metallurgy, physics, signal processing, mechanical engineering, optics,
software AI and ML, data analytics and visualization, the company has
established credibility and efficacy within highly demanding industries such as
aerospace, defense, biomedical and transportation.
The 3D Printing Media Network article attributes the
tremendous industry potential in part to manufacturers of “traditional”
additive-manufacturing technologies for both polymers and metals working to
optimize the end-to-end, 3D-printing production process. That optimization
stems from introducing additional elements of automation, improving software
that runs the AM process and developing new designs that take full advantage of
AM technologies.
“The reason why [manufacturers] finally did this is that the
pressure is on from a number of new entry AM firms (HP, Carbon, Desktop Metal)
that have been introducing faster and more cost-effective processes, the
so-called planar processes, specifically with automotive mass production in
mind,” said Sher. “The implications of this ‘clash of titans’ will be seen more
clearly over the next decade, but my opinion is that this will greatly benefit
adoption, pushing large automotive firms to continue to invest large sums of
money even if the short-term financial benefits from AM applications are not as
immediately clear as they may be in other segments.”
At the forefront of this incredible manufacturing
revolution, Sigma Labs could easily find its one-of-kind software integrated
into the 3D manufacturing process throughout the automotive industry.
For more information, visit the company’s website at www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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