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An updated edition of the May 29, 2025 article.
3D Printing, also known as additive manufacturing, is a cutting-edge process that transforms digital designs into physical objects by building them layer by layer with remarkable precision. Since its inception in the 1980s, the technology has evolved rapidly and revolutionized the way manufacturers design, create and produce. From customized prosthetics and mechanical components to architectural structures, food and intricate jewelry creations, 3D Printing has opened new doors to innovation and efficiency. 3D Printing offers a significant edge in terms of cost, customization, precision and sustainability compared with traditional manufacturing methods.
More businesses are now embracing 3D Printing for rapid prototyping and on-demand production, significantly reducing lead times and costs. Xometry XMTR, Proto Labs Inc. PRLB and Stratasys, Ltd. SSYS are leading players in this space.
The technology’s ability to use lighter, stronger materials, minimize waste and enable faster production cycles is truly transformative. It enables the creation of complex shapes and products that traditional methods cannot match. Localized production can cut down supply chains and lower transportation costs. On-demand manufacturing eliminates the need to maintain large inventories, which is beneficial for industries with seasonal demand or those requiring spare parts on an urgent basis.
3D Printing is gaining traction across sectors such as healthcare, aerospace, automotive and consumer goods. In aerospace, it is used to manufacture lightweight, durable aircraft and spacecraft components. In the automotive industry, it is valuable for producing prototypes, tooling and even customized parts.
The technology is transforming the medical field by producing personalized medical tools and generating prosthetic body parts for patients. It is pushing boundaries even further with advancements in tissue and organ printing, which could one day redefine modern medicine.
According to Precedence Research, the global healthcare 3D Printing market stood at $1.66 billion in 2024 and will end this year at $1.96 billion. By 2034, the market can surpass $8.71 billion, seeing a CAGR of 18% between 2024 and 2034. North America currently leads the sector and is expected to retain this dominance, thanks to strong government support, increasing public awareness and a high volume of operative procedures.
Overall, the global 3D Printing market is projected to reach $29.29 billion in 2025 from $24.61 billion in 2024. By 2034, it will likely attain $134.6 billion, witnessing a CAGR of 18.52%.
The U.S. 3D printing market is expected to grow, seeing a CAGR of 19.18% over the 2025-2034 period. North America dominates the market, with more than 35% share, with Asia Pacific at its heels with a 30% share. India and China are also leveraging 3D printing technology to increase their share in global manufacturing competitiveness.
We believe that 3D Printing offers compelling growth opportunities for investors, driven by its strong prospects, inherent advantages and increasing adoption across high-end growth markets.
Our 3D Printing Screen makes it easy to identify high-potential stocks. Currently, stocks like Carpenter Technology CRS, ATI Inc. ATI, GE Aerospace GE, L3Harris Technologies LHX look lucrative.
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Carpenter Technology formed the Carpenter Additive business unit in May 2019. The company has been building its additive capabilities through the acquisitions of LPW Technology Ltd., Puris and CalRAM over the past few years. In late 2019, CRS opened its Emerging Technology Center in Athens, AL, with the capability to atomize a range of specialty alloys into metal powder and manufacture the powder into finished parts using AM technology (3D Metal Printing). Its downstream equipment for taking the initially produced part to a final finished product included the state-of-the-art quick-cooling Hot Isostatic Press system, as well as vacuum heat treating to optimize the material properties of high-value specialty alloy components.
The Carpenter Additive business is one of the world's most versatile producers of spherical, gas-atomized, pre-alloyed metal powders and consolidated powder metallurgy products. The powders meet the unique demands of additive manufacturing, metal injection molding, hot isostatic pressing, near-net shapes, surface enhancement processes and tool steels.
Starting from powder production to manufacturing and finishing parts, the end-to-end capabilities differentiate Carpenter Additive from the rest of the industry. CRS currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ATI offers a full range of capabilities throughout the additive supply chain, from metal powder and material science to the finished part. ATI Additive Manufacturing is one of the few providers to deliver expertise in both Electron Beam Melting and Direct Metal Laser Melting for additive parts.
Given its extensive powder metals offering, ATI Additive can quickly respond to the needs of customers for their additive part demands. Leveraging ATI’s metallurgical leadership, it also can develop new alloys for additive manufacturing on request or address industry challenges.
The company continues to increase its production capacity for advanced metallic powders for use in next-generation aerospace products, including additive manufacturing applications.
ATI recently commissioned a state-of-the-art additive manufacturing products facility, bringing online the most advanced large-format, metal additive manufacturing capabilities in the industry. The facility combines design, printing, heat treating, machining and inspection capabilities under one roof. From design to finished product, the company has created a one-stop solution center to address challenges in high-performance markets like aerospace, defense and space. ATI currently carries a Zacks Rank of 2.
GE Aerospace is considered one of the leading proponents of additive manufacturing. Since the 1980s, the company has been engaged in additive manufacturing research. The acquisition of a small additive company, Morris Technologies, in 2012 transformed GE’s approach to designing, leading to the first complex component made “additively” for the production of a jet engine. GE Aerospace subsequently boosted its additive manufacturing prowess in 2016 through two more acquisitions of Arcam AB and Concept Laser in Europe.
GE offers industrial metal 3D printers, powders and services to customers through its Colibrium Additive business. It produces several key components for LEAP and GE9X engines. According to GE, 3D Printing has enabled the GE9X engine to be 10% more fuel efficient than the GE90. Also, each of GE Aerospace’s LEAP engines includes 3D-printed fuel nozzles and has increased fuel efficiency by 15% compared with CFM56 engines.
As part of its 2024 investment plan, the company earmarked $54 million for its Auburn, AL-based facility for additional 3D Printing machines and tooling to increase the production of military rotorcraft engine components, along with narrow and widebody commercial aircraft engines. GE also allocated $107 million to facilities in the greater Cincinnati region for additive manufacturing machines, tooling and equipment. This will allow GE Aerospace to increase the production capacity of engines used in commercial aircraft, and U.S. and allied military helicopters and fighter jets. GE currently has a Zacks Rank of 2.
L3Harris has invested extensively to advance additive manufacturing technology over the past two decades to meet the stringent requirements of rocket engine and defense systems applications.
The use of additive manufacturing has helped the company cut down the amount of touch labor required to build engine components, enabling it to provide more affordable products to customers. Given the cost advantage along with lower lead times, it has incorporated the technology into production programs.
In particular, 3D printing has made a large impact on L3Harris’ ability to deliver hypersonic flight. Currently, traditional manufacturing processes are unable to meet the intricate geometric specifications that advanced hypersonics require. By advancing additive manufacturing capabilities, L3Harris can meet the propulsion and temperature requirements that modern hypersonic airbreathing systems demand.
The L3Harris sites located in Daytona Beach, Florida and Los Angeles, CA utilize Metal Additive Manufacturing or 3D Printing in developing and producing metal alloy additive manufacturing parts for aerospace and defense propulsion and power systems.
L3Harris is applying additive manufacturing to the following products: AR1, RL10, RS-25, Bantam Family, MPS-120 CubeSat, NASA's Orion Crew Module propulsion components, and various missile defense and tactical products. LHX has a Zacks Rank of 2 at present.
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This article originally published on Zacks Investment Research (zacks.com).
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