- New Boeing 777X aircraft recently took flight and showed further proof of market with many 3D printed parts
- Sigma Labs is the leading provider of third party in-process quality-assurance software to commercial 3D metal printing industry
- Sigma Labs with its patented PrintRite3D(R) software targets an untapped $2 billion market
History was made for the 3D printing industry recently with the first flight of the Boeing 777X aircraft, built using over 300 3D-printed parts – including an inducer never used in a commercial jet engine before 3D printing made it possible (http://nnw.fm/vbk7G). At the forefront of the 3D metal printing industry, Sigma Labs (NASDAQ: SGLB) is the sole provider of the requisite quality control software that’s removing scalability hurdles for the industry, enabling operators of machines to offset emerging quality problems in-process and boosting overall production and profitability.
“The inducer cannot be manufactured any other way, except by 3D printing,” said Zach Studt, senior manufacturing engineer at GE Aviation. “In this way, additive is unlocking performance of the engine.”
In addition to GE, 3D metal printing is also being driven forward by other large aviation-parts players such as Rolls-Royce, Airbus and Honeywell. Sigma Labs has test and evaluation programs in place with Airbus and several other leading aerospace manufacturers. Ever more companies are looking to leverage the additive manufacturing opportunity and the demand for innovative, time-saving solutions that refine the production process and provide cost effective quality control solutions. Sigma Labs provides the industry’s leading third party quality control software solution that addresses these critical issues – a requirement for the industry to move past the prototype phase into its full potential. Once impediments created by post-process, quality-control issues are removed, the industry looks set to grow by leaps and bounds.
Sigma Labs’ patented PrintRite3D(R) software addresses these issues in two ways: first, by enabling real-time, in-process detection of manufacturing irregularities, and then by providing error reporting that gives operators the critical, actionable information needed to address any developing anomalies found during the production process – potentially reducing rejected output and post-production inspection times.
Founded in 2010 by a team of Los Alamos National Labs scientists, Sigma Labs initially developed and licensed advanced metallurgical products for the military and dental industries. Following an assessment of 3D metal printing technology, the company concluded that the enormous potential of 3D metal printing could only scale up if in-process quality-assurance tools were developed to observe, manage and control the manufacturing complexities of the production process. The company’s patented and third-party validated software has achieved this objective, delivering crucial elements required to unleash the potential of 3D metal printing for the highly demanding and precision-dependent environments of the aerospace, defense, transportation, oil, gas, and biomedical industries.
SGLB is in an enviable position with a market projected to exceed $2 billion dollars, based on just the estimated number of 3D metal printers shipped between 2021 and 2027 (http://nnw.fm/2DJaR). What’s even more striking is that there are few known competitors for that $2 billion market (http://nnw.fm/7E8uN). Sigma Labs is leading this market space with technology unsurpassed by others in process quality control software for the metal additive manufacturing market. Beyond the huge existing market, 3D printing is booming, projected to grow at a CAGR of 32.5% from 2019 to 2024 (http://nnw.fm/V0gUY). With its unmatched in-process quality control software, Sigma should be able ride the crest of that wave as well.
With a robust patent strategy established to protect intellectual property, including seven patents granted, 18 pending, and four under application, SGLB is has become the premier provider of innovative software solutions to what is now being referred to as the fourth industrial revolution.
For more information about Sigma Labs, please visit www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates relating to SGLB are available in the company’s newsroom at http://nnw.fm/SGLB
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