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Stratasys (SSYS) Bets on Solid 3D Printing Demand Amid Competition
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Stratasys (SSYS - Free Report) has been benefiting from an increase in demand for 3D printed materials, and its focus on product launches and strategic partnership agreements or acquisitions.
The company has launched several innovative products this year, which position it well in the long haul. Recently, it introduced a cybersecurity solution for additive manufacturing called ProtectAM to provide enhanced security to the U.S government while implementing 3D printing solutions.
In June, it unveiled its first multi-material 3D printer, J35 Pro, which combines a variety of materials that can be printed simultaneously, thereby providing the flexibility to produce parts that align with exact needs. In the same month, it launched J55 Prime, an expanded version of the J55 printer introduced in 2020, in a separate deal.
Again in the same month, it unveiled J5 MediJet, a compact medical 3D printer that integrates multiple applications into one system and thus, enables the creation of intricate 3D anatomical models. The new printer runs 30% faster than other 3D printers. Prior to that, in March, the leader in 3D printing introduced its compact multi-material dental 3D printer, J5 DentaJet, to eliminate the time-consuming process of producing dental parts.
With a large number of engineers, designers, architects and entrepreneurs resorting to 3D solutions for their primary designing and product modelling, the 3D printing market is becoming a favorable long-term investment opportunity. Per Statista, the global 3D printing market is expected to reach $40.8 billion by 2024, witnessing a CAGR of 26% through 2022-2024.
The bright prospects of the 3D printing space have intensified competition among 3D printing stalwarts like HP Inc. (HPQ - Free Report) , 3D Systems (DDD - Free Report) and voxeljet AG .
To counter such intensifying competition, Stratasys has resorted to acquisitions and partnerships. The company recently announced that it has acquired the remaining stake in the Cambridge, UK-based inkjet printing technology group, Xaar 3D Ltd.
The buyout of Xaar is pursuant to an agreement entered by the two companies in 2019. Per the agreement, Stratasys acquired a 45% stake in Xaar in 2019 and obtained an option to acquire the remaining stake at a later date.
The company acquired RP Support, a U.K.-based provider of stereolithography 3D printers and solutions, in February this year.
In January, the Minnesota-based company closed the buyout of Origin, a San Francisco-based 3D printing start-up. The buyout, held in a cash-and-stock deal worth $100 million, will provide the company a competitive edge in the 3D-printed mass production parts market with the integration of Origin’s software-centric additive manufacturing solutions.
We believe that Stratasys’ continued initiatives to strengthen its position in the 3D printing space by adding new capabilities to the 3D printing portfolio remain key growth drivers.
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Stratasys (SSYS) Bets on Solid 3D Printing Demand Amid Competition
Stratasys (SSYS - Free Report) has been benefiting from an increase in demand for 3D printed materials, and its focus on product launches and strategic partnership agreements or acquisitions.
The company has launched several innovative products this year, which position it well in the long haul. Recently, it introduced a cybersecurity solution for additive manufacturing called ProtectAM to provide enhanced security to the U.S government while implementing 3D printing solutions.
In June, it unveiled its first multi-material 3D printer, J35 Pro, which combines a variety of materials that can be printed simultaneously, thereby providing the flexibility to produce parts that align with exact needs. In the same month, it launched J55 Prime, an expanded version of the J55 printer introduced in 2020, in a separate deal.
Again in the same month, it unveiled J5 MediJet, a compact medical 3D printer that integrates multiple applications into one system and thus, enables the creation of intricate 3D anatomical models. The new printer runs 30% faster than other 3D printers. Prior to that, in March, the leader in 3D printing introduced its compact multi-material dental 3D printer, J5 DentaJet, to eliminate the time-consuming process of producing dental parts.
With a large number of engineers, designers, architects and entrepreneurs resorting to 3D solutions for their primary designing and product modelling, the 3D printing market is becoming a favorable long-term investment opportunity. Per Statista, the global 3D printing market is expected to reach $40.8 billion by 2024, witnessing a CAGR of 26% through 2022-2024.
The bright prospects of the 3D printing space have intensified competition among 3D printing stalwarts like HP Inc. (HPQ - Free Report) , 3D Systems (DDD - Free Report) and voxeljet AG .
To counter such intensifying competition, Stratasys has resorted to acquisitions and partnerships. The company recently announced that it has acquired the remaining stake in the Cambridge, UK-based inkjet printing technology group, Xaar 3D Ltd.
The buyout of Xaar is pursuant to an agreement entered by the two companies in 2019. Per the agreement, Stratasys acquired a 45% stake in Xaar in 2019 and obtained an option to acquire the remaining stake at a later date.
The company acquired RP Support, a U.K.-based provider of stereolithography 3D printers and solutions, in February this year.
In January, the Minnesota-based company closed the buyout of Origin, a San Francisco-based 3D printing start-up. The buyout, held in a cash-and-stock deal worth $100 million, will provide the company a competitive edge in the 3D-printed mass production parts market with the integration of Origin’s software-centric additive manufacturing solutions.
We believe that Stratasys’ continued initiatives to strengthen its position in the 3D printing space by adding new capabilities to the 3D printing portfolio remain key growth drivers.