Huge market opportunity in 3D manufacturing
HP Inc. (HPQ) is optimistic about its opportunities in the 3D printing space. It aims to disrupt the $12 trillion global manufacturing market via 3D printing.
The company continues to gain traction and momentum in 3D driven by repeat customer orders, system upgrades for high-volume manufacturing, and the scaling of unit installations.
Major wins for HP in fiscal Q2 2018
HP’s CEO, Dion Weisler, stated, “Forecast 3D, one of the oldest and largest 3D manufacturers in the U.S. is expanding and upgrading its entire fleet to our 4210 solutions as they respond to growing demand and full-scale production.” Jabil (JBL), a leading contract manufacturer, is deploying HP’s Multi Jet Fusion in the United States and Asia as part of its distributed manufacturing strategy.
Multi Jet Fusion technology reportedly addresses customer pain points, including cost, quality, and speed. According to HP, this technology is ten times faster than and costs half the price of peer technologies.
HP aims to target other verticals and expand into new geographies over the next few years to drive 3D printing revenue. However, HP has recognized its limitations in sourcing supplies in 3D manufacturing. The company will have an open supply model instead of a proprietary one.
HP intends to have certified channel partners onboard to provide various kinds of materials, and it’s looking to expand in the metals vertical as well. The company would thus like to gain a competitive advantage over niche companies such as Faro Technologies (FARO), Materialise (MTLS), and Stratasys (SSYS).