Stratasys SSYS recently launched its new application programming interface (API) program to facilitate two-way connectivity between its 3D printers and enterprise applications.
The program helps the development partners and manufacturing customers to connect the Stratasys’ Fused Deposition Modeling (FDM) 3D printers with enterprise software applications, using the GrabCAD Software Development Kit (SDK). The company has initially partnered with Link3D and Identify 3D for the GrabCAD SDK program.
The new additive manufacturing solution enables users to integrate additive manufacturing for the production of end-use parts along with providing speed and agility benefits.
Currently, the GrabCAD SDK packages are in the beta phase and likely to be made available in January. The packages have been offered to selected customers and software application partners.
Meanwhile, Stratasys’s shares have declined 2.8% year to date against the Zacks Computer – Peripheral Equipment industry’s growth of 44.8%.
Expanding Product Portfolio Revives Growth
Stratasys’ continuous efforts to expand its robust 3D printing portfolio with several innovative product launches are expected to bolster the top line in the long haul.
Earlier this month, the company extended MakerBot’s METHOD 3D printers’ capabilities with three new Kimya ABS composite materials. The additions boost the performance of METHOD printers by providing higher precision and greater strength to the 3D printed parts. Moreover, in October, MakerBot expanded its materials portfolio to include Nylon 12 Carbon Fiber.
Further, the company announced several enhancements such as ultra-realistic simulation and realism with advanced bone capabilities to its J750 Digital Anatomy 3D printer. Also, it introduced polymer technology-related upgrades in FDM and PolyJet lines. Such product innovation helps the company attract new customers, thereby driving customer acquisition.
Additionally, Stratasys recently announced the acquisition of Origin, a 3D printing start-up. With the buyout, Stratasys will gain access to Origin One, Origin’s manufacturing-grade 3D printer, which uses its proprietary resin-based Programmable PhotoPolymerization (P3) technology. The company expects to generate incremental annual revenues of $200 million within five years with the new technology.
Solid Partner Base a Major Positive
Stratasys has inked several partnerships to fuel its top line and drive market penetration of its products. The company largely benefits from the significant contributions from a solid partner base, which includes The Boeing Company BA, Boom Supersonic, United Launch Alliance, Ford Motors F, General Motors GM, Volkswagen, Schneider Electric and Siemens.
Moreover, in mid-September, the company extended the multi-year technical partnership agreement with Team Penske to continue to deliver time-saving benefits of 3D printing to all Team Penske NASCAR, INDYCAR and IMSA SportsCar teams.
These partnerships bode well for this Zacks Rank #3 (Hold) company’s 3D systems business and drive the expansion of its customer base. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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