3-D printing burst on the scene a few years ago. Since peaking around 2014, however, 3-D printing stocks are down about 85%. That’s not good. The Dow Jones Industrial Average , for comparison, has returned almost 75% cumulatively over the same span.
The technology trend didn’t unfold the way investors expected. Costs didn’t come down fast enough and the killer-app—the major application that would drive technology adoption—never appeared on the scene.
As a result, new entrants, such as 3D Systems (DDD), didn’t create much stock-market value. Instead, the value of 3-D technology is accruing to companies able to use additive manufacturing techniques to supplement their existing supply chains. “Additive manufacturing will never replace [high-end] forging,” explained Donald Godfrey, engineering fellow for additive manufacturing at Honeywell Aerospace. “And if you have a high volume part, you’ll never beat the cost effectiveness of casting.” That doesn’t mean, […]
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