Two of the biggest global leaders in 3D printing technology, Stratasys and 3D Systems, announced second-quarter 2020 results with reported revenues down, showing signs of struggle mainly due to the impact of the COVID-19 pandemic, which continues to wreak havoc across industries worldwide. The quarterly earnings season begins this week with plenty of companies reporting sharp declines in revenues, proving a turnaround this year might be difficult, but not impossible. During the announcement, 3D Systems president and CEO, Jeffery Graves, revealed that the company will no longer emphasize the individual software, hardware, and materials elements of AM separately, but rather the combination of these elements into specific application solutions within the targeted markets. Stratasys’ CEO, who is also new to the job, indicated that the goal is to become the first choice in the growing polymer 3D printing marketplace, claiming polymers demand is growing steadily, and 3D printing is penetrating further into manufacturing across many businesses and governments worldwide, as they begin to reassess their supply chains and implement decisions that will drive increased demand for AM technology. “We see that the competitive landscape and market offerings are fragmented, there is no silver bullet in AM technology and no clear leader across all major segments. Stratasys serves approximately one third of the 3D printing hardware addressable market, we want to expand our technologies to serve the growing applications for polymer 3D printing.” For now, the pace at which industry can return to normal is still quite slow, and uncertainties as to when the virus will cease to circulate means companies will continue to suffer severe disruptions. Now, it is up to both companies to take advantage of the growing interest in 3D printing technology and revolutionize the future quicker.

Read the full article at 3DPrint.com | The Voice of 3D Printing / Additive Manufacturing