Core Insights - 3D Systems' Aerospace & Defense (A&D) business is projected to grow over 20% in 2026, following a 15% growth in 2025, driven by investments and favorable U.S. policies [1][9] - The company anticipates revenues from production printing systems and custom metal parts to exceed $35 million in 2026 [1] - The A&D segment is expected to become 3D Systems' largest and fastest-growing industrial business in 2026, fueled by strong demand in various defense sectors [2][9] Business Expansion - 3D Systems is expanding its Littleton, CO facility by adding 80,000 square feet, which is expected to further enhance growth [2] - The company is on track with an $18.5 million U.S. Air Force-sponsored program to develop next-generation laser powder-bed fusion technologies [3] - Upon completion in 2027, 3D Systems will be the only U.S. provider of a complete, end-to-end metal additive manufacturing ecosystem for large-frame metal printing [4] International Operations - The A&D business will benefit from aerospace-focused design and application expertise in Leuven, Belgium, and metal printer production in Riom, France [5] - The NAMI joint venture in Saudi Arabia is also expected to support international growth [5] Financial Performance - 3D Systems' shares have declined by 33.1% over the past year, underperforming the industry and sector [6] - The company expects fourth-quarter 2025 revenues to increase by 8-10% sequentially, driven by strong new printer sales and increased materials consumption [7] - The Zacks Consensus Estimate for 2025 net sales is $379.2 million, indicating a 13.9% decline from 2024 [8]