- 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/lpIZR).
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
MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
For more information, visit www.MissionIR.com