Metal 3D Printing Shifts to Production Orders

Metal 3D printing is moving from qualification work into production orders. On their third-quarter 2026 earnings calls on November 5 and November 10, printer makers 3D Systems (DDD) and Velo3D (VELO) said aerospace, defense and semiconductor-equipment customers are moving parts that have already been qualified into volume production. Velo3D's new bookings in the quarter ran well ahead of its revenue.

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Once a part is qualified, customers buy printers for a fixed job

The pace of metal 3D printing orders depends on whether customers' parts pass qualification. 3D printing, also called additive manufacturing, builds a part layer by layer from a digital design by fusing metal powder, and it has mostly been used for samples and prototypes. Aerospace and defense customers test materials, processes and performance repeatedly before a part goes into a system, and during that stage printer makers win only small trial orders. Once a program is qualified and moves to full-rate production, the same part is reordered again and again, and customers add machines dedicated to that line. Velo3D disclosed an $11.5 million full-rate production contract from a defense prime in the first quarter of 2026 [1], and 3D Systems said on its latest call that additive manufacturing is moving from prototyping into production [2].

The shift is spreading beyond single programs because demand in some areas is now large enough to justify purpose-built printers. In the Q&A, 3D Systems management said the market for components inside chip-making equipment alone would justify its own type and size of printer, and that aerospace and defense are the same [2]. The company said several new platforms are well beyond the concept phase and ready for detailed engineering and then manufacturing [2]. Customers used to buy general-purpose machines that could print anything; dedicated machines suggest that volumes in at least some applications have become stable.

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Velo3D bookings outrun revenue as 3D Systems growth concentrates in strategic markets

Velo3D booked $28.9 million of new orders in the third quarter, above quarterly revenue of $20.5 million, and its backlog rose from about $31 million at the end of the prior quarter to $40.1 million [3]. During the quarter, partner Mears ordered its sixth Sapphire XC printer, dedicated to copper-nickel parts, a material used in shipbuilding and offshore applications [3]. At 3D Systems, four strategic markets grew about 30% year over year combined, aerospace and defense grew 30% year to date, and some customers are adding printer capacity for semiconductor-equipment parts [2].

So far the growth shows up in business mix more than in total revenue and profit. 3D Systems' consolidated revenue grew only 10.9%, price-sensitive markets declined by double digits, and its fourth-quarter guidance was flat [2]. Velo3D withdrew its target of gross margin above 30% in the second half, now expects sequential gross-margin improvement in the fourth quarter, and said its new campus has started operations in phases but is not yet operating at scale [3]; it kept its full-year revenue guidance [4]. Taken together, the two disclosures show production demand rising, while turning orders into profit still depends on new capacity ramping up.

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Printer makers' revenue tilts toward repeat orders and consumables

In production, a printer maker's business shifts from selling single machines for qualification toward steady shipments built around fixed parts. Once a part is in volume production, customers add identical machines as output grows, and consumables such as powder are used more as machines run longer, which could make revenue steadier and more predictable. If purpose-built printers launch as planned, vendors' products would also fit specific industries' production needs more closely. This inference rests mainly on the two companies' disclosures and management views, and Velo3D's new capacity is ramping more slowly than it first expected [3]. The things to track are whether Velo3D's bookings keep exceeding revenue, whether its backlog keeps growing, and whether growth in 3D Systems' strategic markets lifts consolidated revenue.

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Companies exposed to this shift

• Materialise (MTLS): It provides 3D printing software and contract production. Series-production revenue in its manufacturing segment grew more than 30% year over year in the third quarter on aerospace, semiconductor and defense demand, and it added metal printing capacity for large defense parts [5]. The manufacturing segment as a whole fell 6% on a reported basis [5], so whether production conversion lifts overall growth is still unproven.
• Amaero (AMRO): It makes titanium and refractory spherical powders, which management calls the consumable of metal 3D printing. Third-quarter revenue rose 35%, and backlog reached $13.4 million, up 180% year over year [6]. More printers running more hours would use more powder, but how much of its growth comes from production printing cannot yet be separated from defense development funding.
• Stratasys (SSYS): It mainly makes polymer 3D printers. Second-quarter consumables sales hit a record, and its F900 printers were certified by the U.S. Air Force to produce flight-worthy parts [7], placing it on the polymer side of the same shift. Whether that momentum holds on its next call is another test of the trend.

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Sources

[1] Drillr · Velo3D (VELO) · 2026-05-12 · Earnings call summary

[2] Drillr · 3D Systems (DDD) · 2026-11-05 · Earnings call

Most importantly, we're seeing increasing evidence that additive manufacturing is moving from prototyping into production across healthcare and industrial applications.

[3] Drillr · Velo3D (VELO) · 2026-11-10 · Earnings call

[4] PR Newswire · Velo3D Announces Third Quarter 2026 Financial Results · 2026-11-10 · Earnings release · https://www.prnewswire.com/news-releases/velo3d-announces-third-quarter-2026-financial-results-302935529.html

[5] Drillr · Materialise (MTLS) · 2026-10-28 · Earnings call

[6] Drillr · Amaero (AMRO) · 2026-11-09 · Earnings call

[7] Drillr · Stratasys (SSYS) · 2026-08-13 · Earnings call

This article highlights industry changes and companies that may be overlooked. It is not a stock recommendation.