Stratasys ( SSYS Quick Quote SSYS - Free Report) recently enhanced its product portfolio by rolling out two new PolyJet3D printers — the Stratasys J35 Pro and the Stratasys J55 Prime.
The J35 Pro represents the company’s first multi-material 3D printer for desktop, which is ideal for engineering and design office setting. The printer comes with an option to combine a variety of materials that can be printed simultaneously, thereby providing engineers and designers the flexibility to produce parts that align with their exact needs.
Stratasys’ J55 Prime expands on the original J55 printer, which was introduced in 2020. The J55 Prime adds a new set of versatile materials to the original printer that provide tactical, textual, and sensory capabilities along with full color.
Stratasys has begun taking orders for both the newly-released printers. The company expects to start shipping the J55 Prime printers next month and delivery of J35 Pro in September.
Stratasys has launched several innovative products that have positioned the company well over the long term. The company’s machines facilitate prototyping within a few hours, which reduces development time and upfront costs.
Earlier this month, Stratasys introduced a compact medical 3D printer — Stratasys J5 MediJet — that integrates multiple applications into one system, enabling users to create intricate 3D anatomical models. The J5 MediJet 3D printer is up to 30% faster than other 3D printers.
In March, Stratasys unveiled its compact multi-material dental 3D printer — J5 DentaJet — to eliminate the time-consuming process of producing dental parts.
Markedly, the 3D printing market presents a favorable long-term investment opportunity as a large number of engineers, designers, architects and entrepreneurs are resorting to 3D solutions for their primary designing and product modeling.
Per Statista, the global
3D printing market is projected to reach $40.8 billion by 2024, representing a CAGR of 26% through 2022-2024. As the industry leader in 3D printing, this is encouraging information for Stratasys as it will be able to grab a large share of the market.
The bright prospects of the dental 3D printing space are attracting intense competition from 3D printing stalwarts like
HP Inc. ( HPQ Quick Quote HPQ - Free Report) , 3D Systems ( DDD Quick Quote DDD - Free Report) and voxeljet AG ( VJET Quick Quote VJET - Free Report) .
To counter the intensifying competition in the space, Stratasys has resorted to acquisitions and partnerships to enhance its product portfolio and strengthen market position. This February, the company acquired RP Support, a U.K.-based based provider of stereolithography 3D printers and solutions.
Earlier in January, Stratasys completed the acquisition of Origin, a San Francisco-based 3D printing start-up. With the buyout of Origin, Stratasys has gained a competitive edge in the 3D-printed mass production parts market with the integration of the software-centric additive manufacturing solution of the former.
Moreover, Origin’s manufacturing-grade 3D printer, which uses its proprietary resin-based Programmable PhotoPolymerization (P3) technology, is anticipated to enable Stratasys to deliver polymer-based additive systems to the dental, medical, tooling and other industries. This will help the company generate incremental annual revenues of $200 million within the next five years.
Additionally, over the past few quarters, this Zacks Rank #4 (Sell) company has inked strategic partnerships to fuel its growth momentum.
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The 3D printing company has made partnerships with the likes of Schneider Electric, The Boeing Co., Ford Motor Co., Siemens, Boom Supersonic and United Launch Alliance. The collaborations are aimed at introducing advanced 3D printing technologies to the aerospace and automotive industries. These deals are part of a strategic move by Stratasys to expand its geographic reach and drive market penetration. These partnerships spell opportunities for Stratasys’ 3D systems business and will fortify its installed base.
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