Beatrice Lang
General Electric's investment in 3D printing company Optomec was driven by its strategic initiatives, particularly the Industrial Internet of Things. Optomec's Aerosol Jet technology enables the high-volume production of 3D-printed sensors and antennas, allowing GE to improve operational efficiency and drive profit growth. The investment also grants GE access to Optomec's metal 3D printing capabilities, positioning them as a major player in the metal 3D printing market. GE's broader commitment to 3D printing includes acquisitions, advancements in aviation applications, and expectations for substantial cost savings and revenue growth by 2020 and beyond.
| Characteristics | Values |
|---|---|
| Date of Investment | 2016 |
| Name of 3D Printing Company | Optomec |
| Optomec's Technology | Aerosol Jet 5X System |
| Optomec's Business | Privately held global manufacturer of systems for 3D-printing electronics and metals |
| Optomec's Target Industries | Electronics, Energy, Life Sciences, and Aerospace |
| GE's Investment | Part of GE's Industrial Internet of Things initiative |
| GE's Expected Outcome | Improved operational efficiency and profit growth |
| GE's Expected Savings | $3 billion to $5 billion over the next 10 years |
| GE's Expected Revenue by 2020 | Over $1 billion in 3D printing revenue |
| GE's Expected No. of Metal 3D Printers by 2025 | 1,000 |
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What You'll Learn
Optomec's Aerosol Jet technology
Aerosol Jet technology has a range of applications, including consumer electronics, semiconductor packaging, displays, aerospace/defence, automotive, and life sciences. The technology is particularly well-suited for printing electronic circuits and devices with high resolution and precision. This makes it ideal for rapid prototyping, product development, and low-volume production.
The Aerosol Jet 5X system, in particular, is designed for 3D printed electronics applications such as fully printed antennas, sensors, and Molded Interconnect Devices (MIDs). The system offers advanced features such as 5-axis coordinated print motion, advanced vision and process controls, and optional add-ons like wide feature printheads and UV curing solutions.
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$29.99
Optomec's financial results
Optomec, a 3D printing company, reported strong financial results for 2015. The company also announced that it had received "strategic investments" from General Electric (GE) and software maker Autodesk. While Optomec did not disclose the amount invested by GE and Autodesk, its SEC filing of an offering and placement of $6 million in securities suggests that the two companies, along with existing investors, invested this amount.
Optomec's business is focused on the production of systems for 3D-printing electronics and metals, targeting applications in the electronics, energy, life sciences, and aerospace industries. The company's Aerosol Jet technology is particularly noteworthy, as it allows customers to print integrated electronics onto plastic, ceramic, and metallic structures with fine resolutions. This capability enables the high-volume production of 3D-printed antennas and sensors that can be tightly integrated with a range of products, from smartphones to industrial components.
The investment from GE is part of the company's Industrial Internet of Things initiative. Optomec's Aerosol Jet 5X system is expected to help GE improve operational efficiency and drive profit growth. By printing sensors directly onto high-value components, GE can receive critical feedback about their structural health and determine exactly when parts need maintenance and repair. This "conditional-maintenance system" has the potential to significantly reduce the life-cycle cost of complex mechanical systems.
Optomec's relationship with GE dates back to 2005 when GE Global Research was one of the first customers to purchase an early-model Aerosol Jet system for 3D-printing electronics. In 2012, Optomec also teamed up with Stratasys to produce the world's first hybrid conventional 3D-printed/electronics 3D-printed structure, a "smart wing" for an unmanned aerial vehicle. Optomec's strong financial performance and strategic partnerships position it well for future growth and innovation in the 3D printing industry.
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GE's Industrial Internet of Things initiative
General Electric's (GE) investment in Optomec, a 3D printing company, is part of its Industrial Internet of Things (IIoT) initiative. Optomec's Aerosol Jet 5X system enables sensors to be printed directly on high-value components, providing critical feedback about their structural health. This allows GE to determine when parts need maintenance and repair, reducing the life-cycle cost of complex mechanical systems. The technology also enables the high-volume production of 3D-printed antennas and sensors for Internet of Things applications, helping to make consumer and industrial devices "smart" and connected.
GE's relationship with Optomec dates back to 2005 when GE Global Research purchased an early-model Aerosol Jet system for 3D-printing electronics. GE's investment in Optomec is part of its strategy to acquire companies with expertise in areas where GE aspires to grow. GE has also acquired artificial intelligence startups Wise.io and Bit Stew Systems to enhance its technology capabilities and compete with the likes of IBM's Watson.
GE's investment in 3D printing is expected to generate over $1 billion in revenue by 2020 and reduce manufacturing costs by $3-5 billion over the next decade. GE aims to become a leading player in metal 3D printing, particularly for aviation applications, and plans to operate a fleet of around 1,000 metal 3D printers by 2025.
GE's broader shift towards software and the Industrial Internet of Things is driven by CEO Jeff Immelt's vision and foresight. GE has created a software platform for the IIoT called Predix, a cloud PaaS (platform as a service) that enables machines, data, and people to connect on a standard platform. This platform positions GE as a player in cloud computing, with its software and services business projected to hit $6 billion in revenues in 2016 and a goal of $15 billion by 2020. GE's industrial app economy, powered by Predix, is expected to be worth $225 billion.
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Optomec's potential acquisition
Optomec, a privately held global manufacturer of systems for 3D-printing electronics and metals, has been the subject of potential acquisition speculation. The company's strong financial results and strategic investments from industry leaders such as General Electric (GE) and Autodesk have fueled interest in its potential acquisition.
General Electric's relationship with Optomec dates back to 2005 when GE Global Research was an early adopter of Optomec's Aerosol Jet system for 3D-printing electronics. GE's investment in Optomec is driven by the company's need for Optomec's technology in its strategic initiatives, particularly in the Industrial Internet of Things. Optomec's Aerosol Jet 5X system enables the printing of sensors directly on high-value components, providing critical feedback on their structural health and reducing maintenance costs.
The potential acquisition of Optomec by GE or another company has been a topic of discussion. While Optomec's soaring growth and technological capabilities make it an attractive target, there have been no confirmed reports of an imminent acquisition. In 2012, Optomec teamed up with Stratasys to produce a "smart wing" for an unmanned aerial vehicle, showcasing its hybrid conventional 3D-printed/electronics 3D-printed capabilities. However, Stratasys' declining stock price has made an acquisition of Optomec by Stratasys unlikely.
Optomec's strategic investments and collaborations with industry leaders demonstrate its potential for growth and innovation. The company's advanced manufacturing solutions, such as its Aerosol Jet systems and LENS 3D printers, have attracted interest from GE and Autodesk, who have invested in Optomec's offerings. Optomec's ability to reduce product costs, improve performance, and seamlessly integrate additive manufacturing into conventional production platforms makes it a desirable acquisition target for companies seeking to enhance their technological capabilities and gain a competitive edge.
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GE's 3D printing approach
General Electric's (GE) approach to 3D printing is centred around its belief that the technology can benefit the company in two major ways. Firstly, by selling a diversified set of 3D printers, materials, and services to customers, and secondly, by reducing costs in its existing manufacturing businesses. GE expects to generate over $1 billion in 3D printing revenue by 2020 and believes it can reduce its manufacturing costs by $3-5 billion over the next 10 years.
Optomec's Aerosol Jet technology, for instance, enables the high-volume production of 3D-printed antennas and sensors that can be integrated with products ranging from smartphones to industrial components. This technology is crucial for GE's Industrial Internet of Things initiative, as it allows consumer and industrial devices to become "smart" and connected. The Aerosol Jet 5X system, in particular, enables sensors to be printed directly on high-value components, providing critical feedback about their structural health and optimising maintenance and repair schedules.
GE's investments in 3D printing companies also extend beyond acquisitions. The company has made significant advancements in 3D printing for aviation applications, such as the new Leap jet engines, which were made possible by GE's investments in 3D printing. GE has also developed metal 3D-printed nozzles that are 25% lighter, 5 times stronger, and more cost-effective than their conventionally manufactured counterparts.
Furthermore, GE has collaborated with other companies to develop and customise 3D printers tailored to specific industries, such as aerospace, automotive, power, and oil and gas. The company's entry into the 3D printing business has transformed it from the world's largest user of metal 3D printing technologies to a major player in the market, with a 20% market share.
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Frequently asked questions
Optomec's Aerosol Jet technology allows customers to print integrated electronics onto plastic, ceramic, and metallic structures at extremely fine resolutions. This technology enables the high-volume production of 3D-printed antennas and sensors that are tightly integrated with an underlying product ranging from smartphones to industrial components. Optomec's technology will help GE improve operational efficiency and, hence, help drive profit growth.
GE expects to generate over $1 billion in 3D printing revenue by 2020. Over the next 10 years, the company believes it can reduce its manufacturing costs by $3 billion to $5 billion.
GE Global Research was one of the first customers to purchase an early-model Aerosol Jet system for 3D-printing electronics from Optomec in 2005. GE has also invested in Optomec in the past, and there is a possibility that Optomec could be acquired by GE or another company.
The 3D printing industry is expected to generate $21 billion in revenue by 2021, up from $4 billion in 2013.
GE has made tremendous advancements in 3D printing for aviation applications. The company has produced more than 85,000 fuel nozzles with 3D printing, and its metal 3D-printed nozzle is 25% lighter, 5 times stronger, and is printed as one component, as opposed to 19 conventionally manufactured components.
