3D Systems Corp. (DDD - Free Report) seems to be aiming towards strengthening its presence among government agencies. The company recently received the opportunity to exhibit its expertise in 3D printing for the making of one-of-its-kind highly advanced aircraft heat exchangers.
To be particular, 3D Systems was chosen by the U.S. Air Force to utilize its Direct Metal Printing (‘DMP’) technology to develop sophisticated, end-use metal aircraft components. This order win signifies 3D Systems’ strong defense/aerospace manufacturing track record and technological knack.
As a matter of fact, the abovementioned project is guided by Honeywell International Inc. (HON - Free Report) and entails the presence of several global leaders in aerospace and metal research. Apart from 3D Systems’ DMP technology, this project will also experience the additive manufacturing and materials proficiency of Penn State Center for Innovative Materials Processing through Direct Digital Deposition (CIMP-3D). The unification of such qualified minds will transfigure jet engine manufacturing as well as modernize the heat exchanger market.
This cutting-edge aircraft heat exchanger project is expected to start in the middle of this year and ‘builds off’ the contract declared in February. In the same month, 3D Systems was awarded over $1 million worth two research contracts for the development of advanced aerospace and defense 3D printing manufacturing capabilities. Both deals leveraged 3D Systems’ Selective Laser Sintering and DMP technologies.
We believe the company’s latest move reflects its efforts toward taking 3D printing to a completely new level by expanding its reach and adaptability across various industries. The above-mentioned deal will likely give 3D Systems’ prospects a much-required boost, going forward.
Similar to the latest deal, this week the company penned a cooperative R&D agreement with Naval Sea Systems Command (“NAVSEA”) to jointly develop and evaluate 3D printing technology and materials for military use (read more: 3D Systems, NAVSEA Tie Up to Improve Navy Supply Chain). Such a deal will likely give 3D Systems a much required boost, going forward.
3D Systems presently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the technology sector include Cirrus Logic Inc. (CRUS - Free Report) and Silicon Motion Technology Corp. (SIMO - Free Report) , each sporting a Zack Rank #1 (Strong Buy).
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