Last month at the RAPID + TCT event, many new things were presented and among those was GE Additive’s setting a target of growing its new additive manufacturing business to $1 billion by 2020, and selling 10,000 metal 3D printing machines in 10 years, building upon acquisitions it announced last year.
“It’s a big number,” said Tim Warden, senior sales director of GE Additive. “That’s why they’re investing heavily,” he said, referring to GE.
GE controls Concept after agreeing last October to buy an initial 75% stake in the German company, with plans to acquire the rest over an undisclosed number of years. The GE Additive turned to Concept Laser after a previously announced deal with SLM Solutions fell through.
The company estimates that it ultimately can expand additive manufacturing into a $10 billion business. GE owns more than 70% of Arcam but doesn’t have full control of the Swedish company.
The following video shows GE Power’s advanced manufacturing facility in Greenville, SC to learn about GE Additive’s metal 3D printing process for creating a gas turbine component that is used to power homes.
GE Additive and the Power of Additive Manufacturing
For now, “We’re concentrating on Concept where we can do what we want to do,” Warden said. “We’re going to support Concept in every way possible.”