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Stratasys (SSYS) Forms Advisory Board for Additive Manufacturing

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Stratasys (SSYS - Free Report) has introduced a new Industrial Customer Advisory Board to enhance collaboration with customers and gather valuable insights in the additive manufacturing field. This move aims to further drive innovation within the industry.

The Industrial Customer Advisory Board consists of 12 members representing leading manufacturers in sectors like Aerospace, Automotive and Industrial Manufacturing, as well as prominent research institutions. Participants include companies like Boeing, TE Connectivity and Toyota Motor (TM - Free Report) , as well as renowned academic institutions such as Wichita State’s National Institute for Aviation Research (NIAR), the University of Texas El Paso and the Milwaukee School of Engineering.

Working closely with senior leaders at Stratasys, the Customer Advisory Board shares feedback on various aspects, including the requirements for scalable manufacturing applications, quality and reliability enhancements, characterization data and the development of a sustainable strategy.

The Customer Advisory Board conducted its inaugural workshop in December and has scheduled additional workshops throughout 2024 and beyond, ensuring ongoing collaboration and input from industry leaders to drive meaningful advancements in additive manufacturing.

This notable decision is set to boost Stratasys’s top-line performance in the upcoming quarters and establish a dominant position in the market.

The Zacks Consensus Estimate for SSYS’ 2024 revenues is pegged at $637.35 million, indicating year-over-year growth of 1.55%. The consensus estimate for 2024 earnings is pegged at 25 cents per share, indicating year-over-year growth of 127.27%.

SSYS’ Recent Advancements in Additive Manufacturing to Fend Off Competition

Stratasys has recently introduced two new software packages, GrabCAD Streamline Pro and an updated version of GrabCAD Print Pro for PolyJet. These software offerings leverage the capabilities of Stratasys’ GrabCAD platform to help more customers enhance efficiency and lower costs through streamlined workflows.

The latest version of GrabCAD Print Pro, designed for both FDM and SAF technologies, has already shown significant benefits for some users, increasing hardware usage by 30-50%. With improved organization for handling and processing parts, customers now have greater flexibility to expand their additive manufacturing operations.

Stratasys has also recently announced the acquisition of Arevo's technology portfolio, including its Intellectual Property assets. Arevo, Inc., previously located in Silicon Valley, ceased operations in 2023.

This acquisition includes several key patents related to carbon fiber printing, enhancements in Z-strength through localized laser melting and roller compaction, real-time monitoring during printing using Artificial Intelligence, and hardware design. By integrating this technology into Stratasys' FDM print systems, the company aims to expand the range of manufacturing applications available to its customers.

These recent advancements in additive manufacturing are expected to fend off competition from notable players.

Shares of this current Zacks Rank #4 (Sell) company have lost 17.1% year to date against the Zacks Computer and Technology sector’s 11.5% growth due to tough competition in the 3D printing market from dominant players like Altair Engineering (ALTR - Free Report) and 3D Systems (DDD - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Altair Engineering has gained prominence in the field of 3D printing due to its advanced simulation tools. One of its notable tools, called Inspire Print3D, is highly effective in simplifying and reducing the costs associated with product development. Altair Engineering further enhanced its capabilities in 3D printing through a collaboration with Gen3D, a company renowned for its software design and consulting services. This partnership strengthened Altair's position in the 3D printing industry.

Specializing in the development of printers and design software for various industries such as medical devices, dental labs, semiconductors, aerospace and automotive manufacturing, 3D Systems stands out as a key player among independent 3D printing companies. Leveraging its extensive expertise and global reach, 3D Systems expects substantial opportunities for growth, given the continuous expansion of the 3D printing industry.

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