- SGLB recognized as creator of 3D printing industry’s most innovative quality-assurance software.
- The company has secured key relationships with major industry players Materialise, NV;Siemens AG; and Airbus
- Global 3D-printing metal market expected to grow at CAGR of 31.8%, exceeding $3 billion by 2025
Sigma Labs Inc. (NASDAQ: SGLB) is a leading developer of quality control software for the commercial 3D-printing industry. The company’s PrintRite3D® software, a proprietary real-time, computer-aided inspection (CAI) technology, represents a seismic shift in the quality-assurance process in the manufacture of 3D-printed metal components, and the entire sector is poised for extraordinary growth.
3D metal printing technology, also known as additive manufacturing, allows producers to transform a 3D-modeled digital object into a three-dimensional physical object by adding material layer by 10 to 30-micron layer, rather than subtracting it as in the traditional manufacturing process.
Sigma Labs has been recognized as the creator of the industry’s most innovative quality-assurance software which is poised to help unleash commercial 3D metal printing by enabling nondestructive, in-process quality control, Sigma Labs has already engaged with renowned industry players such as Materialise NV, Siemens AG and Airbus.
Materialise, one of the most innovative developers of additive manufacturing software and printing solutions, has integrated Sigma Labs’ PrintRite3D technology with its Materialise MCP controller and jointly demonstrated the latest version of the software platform at Formnext, the premier, global, 3D-printing exhibition and conference held in Frankfurt earlier this year.
Siemens AG assisted Sigma Labs in advancing the early version of PrintRite3D INSPECT 2.0 towards version 5.0. One of the largest global oil-field services companies has entered the final stage of the PrintRite3D rapid-test and evaluation program, the last step before commercial orders. Sigma Labs also has a test and evaluation program with European aerospace giant, Airbus.
- Now embraced by a myriad of global industrial producers, 3D metal printing is set to beneficially disrupt the $12 trillion global manufacturing industry (http://ibn.fm/CgZP0). The global 3D-printing metal market is expected to grow at an eye-popping CAGR of 31.8% and exceed $3 billion by 2025 (http://ibn.fm/yXmdA). Still, the nascent industry’s growth is hindered by a very costly and burdensome quality-control process, which impedes production at scale.
- Edwards said, “Inspection does not improve the quality, nor guarantee quality. Inspection is too late. The quality, good or bad, is already in the product. As Harold F. Dodge said, “You cannot inspect quality into a product.”
Due to the variability of the 3D metal printing process, consistent quality and inspection of produced parts is not reliably achievable without substantial postproduction inspection using expensive CT scans and other means, which result in high part rejection, lost time, lost profits and inability to economically scale up production with reduced confidence. “In process inspection develops a pathway to a decision ecosystem that enables confidence in part quality” Beckett. When these operational and production challenges are resolved, the whole industry will grow even faster than projected.
Sigma Labs’ PrintRite3D is the only solution that enables real-time, in-process, quality-assurance tools to observe manufacturing complexities while detecting irregularities and to intervene and avert loss of products by alerting operators in-process and enabling them mitigate the emerging problem(s). Sigma Labs is currently in the execution and delivery phase of commercial development. Millions of dollars have been invested in R&D, refining the latest PrintRite3D 5.0, protecting the IP and working with 19 beta customers, some of which are the biggest names in the industry.
Recognizing the vast potential of the emerging 3D printing industry to revolutionize the traditional manufacturing process, investors have long been investing capital into 3D-printing companies as different sectors of et industry have grown and many industrial applications are flourishing. The overall industry has already created three companies valued in excess of $1 billion. 3D-printing unicorn Carbon is the highest valued of these venture-backed startups, raising $680 million, at a valuation of $2.4 billion, from prominent investors that include Sequoia Capital, GV, Madrone Capital Partners and Baillie Gifford.
Sigma Labs’ people and flagship software PrintRite3D are recognized game changers in the technologies poised to transform the greater-than-$1-billion, yet still nascent, 3D metal printing industry.
For more information, visit the company’s website at www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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