Digital Twin in Manufacturing: Helping Businesses in Growing Their Revenue

DIGITAL TWIN IN MANUFACTURING
Digital twin technology in the manufacturing industry is playing a vital role in evaluating current and future production line conditions to increase OEE, productivity, and business profitability. It has become the most critical component of industry 4.0 because it collects precise data about your manufacturing process and uses that data to help you make wiser decisions.

In other words, manufacturers can utilize digital twins to check and assess physical assets, processes, and systems in a virtual environment.

In this article, we will discuss some of the major applications of digital twin technology in the manufacturing industry. Additionally, we also have a look at how this technology helps businesses increase their ROI. 


Digital Twin Technology Applications


Product Development

Product development is a long and intricate process. For example, it might take up to six years to develop and launch a new automobile model. The shift from the previous model to the new model must be seamless. A minor error during this process might have a detrimental effect on the brand's value and revenue. A digital twin software enables the integration of data between previous-generation models and the new concept's digital representations. Additionally, twinning facilitates communication between product designers, end users, and other stakeholders. When it comes to product testing, having digital twin platforms eliminates the need to wait for performance data from car trials to determine the product's performance and quality.


Design Customization

As consumers become more intelligent, and demand personalized items in a timely manner, the manufacturing industry will become increasingly competitive. According to an Industry Week Special Research Report on the future of manufacturing, industrial enterprises of all sizes place a premium on process improvement and customer relationship strengthening, while small businesses focus on addressing customer demand for product customization. To assist in the customization process, manufacturers use Twin Design Customization, which enables the virtual design and re-design of goods prior to generating a physical product that fully meets consumer specifications.


Shop Floor Performance Improvement

The shop-floor digital twin concept helps businesses to be proactive as the system is capable of identifying anomalous situations. This demands attention and process improvements prior to them escalating into a real problem or standstill.


Predictive Maintenance

Individual digital twin examples for equipment or manufacturing processes can detect deviations that indicate the need for preventative repairs or maintenance prior to the occurrence of a serious problem. Additionally, they can aid in the optimization of load levels, tool calibration, and cycle times.


Can Digital Twin Boost Business Revenue?

According to a recent study by Juniper Research, revenue from digital twins (a virtual representation of a connected physical product, process, or service throughout its lifecycle) will reach $13 billion by 2023. This is an increase from an estimated $9.8 billion in 2019, representing an average annual growth rate of 35%. The study also discovered that increased deployments of advanced sensors for data collection and technological advancements such as machine learning, artificial intelligence, and high-performance computing are enhancing the benefits of digital twins. 

So, how does a digital twin help your company's ROI?
The digital twin improves transformation efficiency by providing platforms and technologies that simulate the impact of process changes in your supply chain – in a safe, secure, and digitally isolated environment – using real-time scenario modeling generated parallel with live supply chain operations. More than a visualization, a digital twin can help accelerate innovation, foster consensus, and save time and money by iteratively modeling changes, testing how components or systems operate, and inexpensively troubleshooting malfunctions in a virtual world.


Final Words

The digital twin platforms benefit manufacturing organizations across all verticals, including supply chain management, manufacturing operations, and logistics. Thus, technology is accelerating and enhancing the manufacturing industry to obtain more positive results and, in turn, increase its efficiency and, as a result, its return on investment. The digital twin will gain popularity as businesses learn to use it to their advantage. According to a 2020 analysis conducted by Research and Markets, up to 89% of all IoT platforms will incorporate digital twins by 2025. Thus, the future of digital twins is bright, and we may witness increased use of digital twins in the next few years.       


FAQ


How digital twin help businesses?

Digital twins can help businesses make better data-driven decisions. Businesses utilize digital twins to understand the state of physical assets, respond to changes, optimize operations, and add value to systems.


How does digital twin save money?

A digital twin can save time and money by iteratively modeling modifications, testing component or system functionality, and resolving faults in virtual reality.


What are the essential components of digital twin technology?

The concept of the digital twin is composed of three unique components: the physical product, the digital or virtual product, and the linkages between the two.

Spotlight

Adams Land and Cattle

Adams Land and Cattle, LLC produces quality beef that exceeds consumer standards. Recognized as one of the premier cattle feeding operations in the world, Adams Land & Cattle is a distinguished and innovative leader in agribusiness. Through our management practices, computer systems and automation in equipment design, we are on the forefront of introducing technological advances to the beef industry.

OTHER ARTICLES
Industrial 4.0

Best Practices for Successful Digital Transformation in Industry 4.0

Article | September 21, 2023

Navigating the path to success by unveiling the best practices for thriving in Industry 4.0 through successful digital transformation. Embrace the data-driven decision-making and customer-centricity. The pursuit of successful digital transformation has evolved from a business strategy to a business necessity. It is a vital imperative for organizations striving to survive and thrive in an ever-competitive market. Within this paradigm shift, a journey unfolds that transcends the commonplace and ventures into the realms of strategic innovation. This best practices article is not just a standard guide but a roadmap to excellence. Explore the best practices that propel businesses into the forefront of Industry 4.0. Beyond the surface of technology adoption lies a deeper narrative, one of cultural transformation, stakeholder collaboration, and visionary leadership. Delve into the intricacies of data-driven decision-making, the agility that fuels progress, the relentless pursuit of knowledge, and the unwavering commitment to the customer experience. Each of these elements forms a crucial thread in the tapestry of successful digital transformation. Through compelling case studies and real-world examples, draw inspiration from industry leaders who have not merely embraced change but have harnessed it to redefine their future. 1. Make confident decisions with Digital Twin Combining the physical and digital realms enables seamless integration of the entire value chain, from design to production, while optimizing with continuous data flow. A digital enterprise can harness the limitless power of data by obtaining valuable insights to make quick and confident decisions and to produce best-in-class products through efficient production. The Digital Twin approach integrates the entire product lifecycle with the factory and plant lifecycles and performance data. The end result is a continuous, open cycle of product and production optimization. The digital twin is a comprehensive digital representation of a product or process throughout its entire lifecycle. By creating a digital twin, companies can achieve significant value, such as faster time-to-market for new products, improved operational efficiency, reduced defects, and exploring new business models to drive revenue growth. With the digital twin, companies solve physical issues more efficiently by detecting them early on and accurately predicting outcomes. It empowers them to design and build superior products and ultimately enhance customer satisfaction by better serving their needs. By adopting smart architecture design, companies can continuously realize iterative value and benefits at an accelerated pace. Manufacturing, automotive, aviation, and other industries have adopted digital twins to boost productivity and efficiency. By 2025, the manufacturing industry is predicted to reach a market size worth over six billion U.S. dollars. 2. Vertically Network Various Units in Enterprise Vertical integration in a Digital Enterprise involves the convergence of IT and OT (Information Technology and Operational Technology) to enable seamless data flow from the shop floor to the top floor. The vast amount of data generated by field devices and control units on the shop floor is vital in the context of Industry 4.0, where intelligent data utilization and communication are paramount. Vertical integration generates a comprehensive solution by integrating IT systems at various hierarchical manufacturing and production levels. These hierarchical levels include the field level (interface with the production process via sensors), the control level (machine and system regulation), the production process level (to be monitored and controlled), the operations level (production planning and quality management), and the enterprise planning level. Vertical integration allows for improved communication and collaboration across different departments within the organization. This leads to better coordination, streamlined operations, and increased efficiency across the entire manufacturing ecosystem. A study by the Boston Consulting Group found that companies with a high level of vertical integration were 16% more productive than those with a low level of vertical integration. 3. Horizontally Integrate the Processes in Lifecycle The concept of horizontal integration in a Digital Enterprise ensures smooth data flow throughout the entire value chain. This integrated approach enables the digitalization of the complete value chain, spanning from design and production to service and recycling. By establishing seamless horizontal integration, it eliminates information silos and creates connections that encompass all aspects, from product innovation and manufacturing to product usage and beyond. Horizontally integrated companies focus on their core strengths and partner to support the value chain. Horizontal integration helps information flow between plant-level Manufacturing Execution Systems (MESs) when a company's manufacturing sites are spread out. This allows production sites to quickly share manufacturing data, such as unexpected delays, breakdowns, and inventory levels. Automated cooperation is crucial to supply chain integration in both the upstream (production processes and downstream (the process of bringing the finished products to market) supply and logistics chains. The integration lets a corporation automatically switch production duties between locations. A study byMcKinseyfound that companies that engaged in horizontal integration in the digital age saw their market share increase by an average of 10%. 4. Upgrade Digitalization using Automation Automation catalyzes growth by streamlining operations, breaking down silos, and promoting cross-functional collaboration. With reduced errors and increased efficiency, businesses can scale their operations with fewer resources, fostering a climate of innovation. This increased productivity allows employees to focus on more creative and challenging tasks, leading to higher motivation and engagement. Furthermore, automation provides a better customer experience, essential in today's digital-savvy market. By automating processes, businesses ensure quick access to customer information, leading to increased satisfaction. Lowering costs and expenditures is another significance enabling businesses to eliminate waste, save time, and conserve resources by automating data entry, approval workflows, and financial procedures. Additionally, automation enables efficient management of decentralized global teams from a central hub, further contributing to cost savings. Automation aids in enhancing security measures and simplifying compliance procedures. Businesses proactively identify vulnerabilities and ensure compliance with ever-changing regulations by automating data-intensive tasks. 97% of IT managers feel process automation is necessary for digital transformation. 5. Implement Additive Manufacturing The adoption of Additive Manufacturing (AM)technologies has prompted the evolution of innovative business models that emphasize environmental perspectives. AM has emerged as a transformative solution within the smart manufacturing industry, offering numerous advantages, such as improved labor, energy, and material optimization, enabling companies to respond to changing market demands effectively. AM is particularly time-saving and cost-effective for small-batch complex geometries products, allowing for non-traditional mass customization and shortening the product development cycle. It encourages changes in sustainable business models, including integrating recycled materials, increasing component attributes, and enhancing product lifecycle. AM’s sustainable benefits have garnered significant attention, focusing on reducing waste, optimizing material consumption, and shortening supply chains. Using layer-by-layer production, AM is considered less wasteful than traditional subtractive methods. It also facilitates the creation of products with extended lifecycles through repair, refurbishment, and remanufacturing, promoting sustainability and environmental responsibility. Study data estimates that the cost savings that can be achieved with Industry 4.0 transformations is 50%. 6. Choose the Appropriate Technology The success of digital transformation endeavors hinges on the careful selection of technologies to invest in. Avoid investing in the latest technology just for the sake of digitization, and refrain from rushing into numerous significant changes simultaneously, which may overwhelm employees. Instead, opt to gradually replace legacy systems and synchronize technology with business objectives through the implementation of new procedures. Here’s what Airbus did. Case Study: Airbus Airbus is the market leader in aeronautics and aerospace products and services worldwide. The organization needed a user-centric digital transformation solution to optimize its data analytics, technology, and machine learning tools, but this proved difficult. Later, it embraced open-source technology and consolidated its 15 tools onto a user-friendly platform. In ten months, this helped produce 290,000 visits and 2,200,000 page views. Additionally, the company's service center is now managing 30% fewer incidents. 7. Adapt Company for a Change Digital transformation does not demand extensive technical expertise from management and employees; rather, it necessitates a shift in mindset. By embracing this new mindset and leveraging technology solutions to automate processes for both customers and employees, rapid growth can be achieved within the organization as well as in the external market. To facilitate this transformation, it is essential to identify areas that require change, enhance transparency, and foster a culture of collaboration within the organization. By taking these steps, an organization can effectively prepare for the changes brought about by digital transformation. Case Study: Honeywell The Fortune 100 manufacturer operates in industries such as aerospace and building technology. To improve product quality and make it easier to apply digital strategies, it cut its operations from eight markets to six. Early in its transformation journey, it established a digital transformation group in the company that led digital innovations like data-driven product offerings, IoT-connected devices, and advanced industrial process control. Honeywell Intelligent Wearables eliminated the need for expert site visits, empowered workers to continue learning, improved their performance, and effectively shared their knowledge with peers by connecting field workers with remote advice. In 2018, Honeywell's share price grew from $95 to $174, and revenue went from $40 billion to $43 billion. 8. Integrate Digital Transformation into Business Goals Establish a strong connection between the digital transformation journey and the company's goals. Define the specific achievements to accomplish through digitization efforts. By aligning digital transformation initiatives with business objectives, a company can enhance its effectiveness in completing tasks, retaining existing employees, attracting new talent, and successfully overhauling company culture. Case Study: Cummins Cummins, a manufacturer of diesel and alternative fuel engines and generators is an example of a company that has capitalized on the increased demand for environmentally friendly products. Microsoft cloud compliance opportunities boost data security and IP protection. Microsoft has been one of the world's foremost technology companies for decades. Satya Nadella shifted the company's revenue model away from desktops and accelerated the transition to cloud computing. Cummins now uses Microsoft 365 for information management and collaboration to create a new workplace culture. Cummins' 58000 employees work cross-functionally and globally to stay ahead. Cummins relies on Microsoft 365 for strict security, data management and delivery, and compliance. Final Thoughts Successful digital transformation in Industry 4.0 requires a strategic and holistic approach beyond technology adoption. It demands a cultural shift, stakeholder collaboration, and a clear vision of the desired outcomes. To achieve successful digital transformation in Industry 4.0, organizations must adopt best practices that encompass technological, cultural, and strategic dimensions. Data-driven decision-making, agility, continuous learning, and a customer-centric approach are key elements in this transformative journey. By prioritizing these practices, businesses can navigate the complexities of digital transformation, drive innovation, and stay competitive in the dynamic landscape of Industry 4.0.

Read More

Achieving Interoperability in an Industry 4.0 Factory

Article | February 11, 2020

As a part of the Industry 4.0 movement, factory engineers are increasingly adopting some form of industrial Ethernet to interconnect the machines and other equipment implementing their production processes. Ethernet has been around in multiple forms for over 40 years. Most of it serves the IT community by interconnecting PCs and other equipment to a company LAN. Because of its flexibility, Ethernet has been adapted to many industrial uses.

Read More

The Impact of Coronavirus on Electronic Manufacturing

Article | February 11, 2020

Wuhan, the epicenter of the outbreak, is considered a crucial hub in the middle of China, a place of high importance for the production of automobiles, electronics, optics, and fiber optics. Wuhan and surrounding cities in the Hubei province are currently on a government-imposed quarantine at a scale the world has never seen before, some Chinese officials have referred to the situation as warlike.

Read More

Digitalizing Your Manufacturing Ecosystem

Article | February 10, 2020

Making digitalization work for you requires an understanding of your manufacturing ecosystem. Standards - such as ISA-95 - only guide you on a journey to more deeply comprehend the workings of your unique process for manufacturing your products. A batch manufacturing ecosystem often includes campaign management. Campaign management is not mentioned in ISA-95, which only speaks generally of order processing.

Read More

Spotlight

Adams Land and Cattle

Adams Land and Cattle, LLC produces quality beef that exceeds consumer standards. Recognized as one of the premier cattle feeding operations in the world, Adams Land & Cattle is a distinguished and innovative leader in agribusiness. Through our management practices, computer systems and automation in equipment design, we are on the forefront of introducing technological advances to the beef industry.

Related News

3D Printing

BizLink counts on Rapid Prototyping with the help of 3D printing technology

PR Newswire | November 03, 2023

BizLink, a leading provider of connectivity solutions worldwide, uses a method for creating physical prototypes with computer-aided design (CAD) data. This so called 'Rapid Prototyping' enables development times to be shortened, costs to be lowered and innovative ideas to be realised more quickly. BizLink's Automation & Drives business unit will showcase one of these solutions at the sps trade fair in Nuremberg, Southern Germany, which takes place from 14 to 16 November. In the development and production of individual injection moulded parts, a large part of the cost and time is spent on providing the appropriate tools. That is why BizLink uses Rapid Prototyping for sample parts in the development phase of overmoulded connection components. The principal objective of this technology involves testing and validating design concepts, functionality and features before there is any investment in series production. Through Rapid Prototyping, BizLink thus reduces development costs and time-to-market for overmoulded components and its reinforced innovative cable systems for factory automation. Rapid Prototyping involves applying layer upon layer of materials or bonding them to one another with 3D printing to make the desired object. This makes it possible to quickly adapt the design as changes can easily be made in the CAD data and the prototype can then be reprinted. It also allows, for example, the spatial conditions during fitting and operation under real-life conditions to be assessed, letting the findings thereby acquired be incorporated in product improvement before a tool-maker has even started his or her job. 3D printing technology can furthermore make valuable contributions to quality assurance while development is ongoing. If, for instance, parts being tested must be scrutinised to limit failure mechanisms along functional boundaries, it helps to be able to quickly create a matching testing device for such investigations. In some cases, such devices also facilitate good reproducibility, meaning that dependable component qualifications can also be carried out in this way. Other applications involve trialling numerous production resources and tools as well as handling aids that are, with respect to their function and ergonomics, initially tested as a 3D-printed specimen and improved repeatedly so that they can later be reproduced in a more robust version made of metal, for example. Rapid prototyping is versatile and has long been a proven tool for BizLink in the innovation process to bring new products to market faster and more effectively. Visitors to sps can convince themselves of these advantages through application examples in the Nuremberg exhibition halls from November 14 to 16, 2023 in Hall 2, Stand 431.

Read More

Manufacturing Technology

Stratasys’ Latest Printer Offers Applications with Improved Parameters

Stratasys | November 06, 2023

Stratasys introduces the F3300 3D printer, offering high speed, uptime, and quality for targeting manufacturing industries with high demands. The F3300 empowers manufacturers to accelerate product development and address global supply chain challenges, delivering a strong return on investment. The latest printer will be unveiled during a live event hosted by the company on November 7. Stratasys, a leader in additive manufacturing and polymer 3D printing solutions will showcase its latest F3300 Fused Deposition Modeling (FDM) 3D printer at the Formnext conference, held in Germany from November 7 to 10. This printer offers exceptional value to manufacturing customers with reduced labor, higher part quality and yield, as well as maximized uptime. The solutions provided by Stratasys provide customers a competitive edge at every stage of the product value chain. These solutions include smart and networked 3D printers, polymer materials, a software ecosystem, and components on demand. The most successful companies in the world go to Stratasys to improve health care, provide agility to manufacturing and supply chains, and alter product design. Key Advancements Faster Print Speeds: Increased gantry speeds, speedier extrusion rates, and autocalibration. Higher Part Quality and Yields: Up to 25% improvement in accuracy and repeatability with autocalibration. Maximized Uptime: Machine monitoring, extruder redundancy, and an operator-friendly interface design. Cost Savings: Offers 25-45% savings compared to other Stratasys FDM solutions. Rich Garrity, Stratasys' Chief Industrial Business Unit Officer, remarked that the next-generation AM system empowers customers to scale production and reduce the need to compromise between traditional and additive manufacturing solutions. He added that the conventional capacity limitations, rising global supply chain challenges, and application complexity are incredibly stressful for manufacturing, and F3300 will empower buyers to accelerate product development, allowing faster innovation and maximized ROI. F3300 printer expands the range of production capabilities and provides performance-oriented manufacturers with the most expansive variety of best-in-class FDM printers. The F3300 is the latest addition to the FDM family, which includes the F900, F770, F450mc, and the F123 series. F3300 complements Stratasys’ F900, known for its dependability, use of high-performance materials, and large capacity. Built for manufacturing by the inventors, the F3300 will be the most sophisticated industrial 3D printer in the market. Its advanced features and design will transform how additive manufacturing is used in demanding industries like automotive, government/military, aerospace and service bureaus. The F3300 is expected to be available for shipment from 2024. Stratasys will host a live event on November 7 at 5:30 p.m. CET to uncover the F3300.

Read More

Manufacturing Technology

Rockwell Automation Invests in Momenta Fund for Sustainable Tech

Rockwell Automation | November 08, 2023

Rockwell Automation invests strategically in Momenta's Industry 5.0 Fund, focused on resilient, sustainable, and human-centric industrial operations. The Industry 5.0 Fund promotes a transition from shareholder to stakeholder value, emphasizing sustainability and empowering individuals with technology to make informed decisions. This partnership positions Rockwell Automation to gain early access to innovative technologies that have the potential to disrupt industrial markets and enhance sustainability while supporting startups at the forefront of digital transformation in energy, manufacturing, smart spaces, and supply chains. Rockwell Automation, a global leader in industrial automation and digital transformation, has made a strategic investment in Momenta's Industry 5.0 Fund. The Industry 5.0 Fund, with an initial capital of $100 million, supports startups dedicated to advancing resilient, sustainable, and human-centric industrial operations. Switzerland-based Momenta launched the fund in cooperation with the EU Commission to promote research and innovation in line with the Commission's Industry 5.0 initiative. The fund aims to transition industries to focus on stakeholder value over shareholder value, emphasizing sustainability and empowering people with information and technology for decision-making. Targeting entrepreneurs in Europe and North America who are at the early stages of development and are at the forefront of the digital revolution in energy, manufacturing, smart spaces, and supply chains, the Industry 5.0 Fund will provide them with venture capital funding and direct value creation. Rockwell Automation is an anchor investor in the fund, allowing the company early access to cutting-edge technologies that can disrupt industrial markets and enhance sustainability. The investment aligns with Rockwell's strategy for inorganic growth and provides valuable insights into next-generation technologies driving digital transformation. Cyril Perducat, Senior Vice President and Chief Technology Officer of Rockwell, expressed excitement about partnering with Momenta to support startups poised to disrupt the industry while expanding human potential. He emphasized the intrinsic benefits of adopting technology that benefits all stakeholders. Ken Forster, a founding partner at Momenta, expressed his appreciation for Rockwell Automation's investment in their Industry 5.0 fund. He acknowledged that Rockwell Automation played a defining role in industrial automation and digital transformation within North America. Under the leadership of an impressive team, they had also been extending their global influence. Ken noted that Momenta's primary focus for the past decade had been investing in companies that drive industrial impact. He further mentioned that they couldn't have found a better partner for the Industry 5.0 fund than Rockwell Automation.

Read More

3D Printing

BizLink counts on Rapid Prototyping with the help of 3D printing technology

PR Newswire | November 03, 2023

BizLink, a leading provider of connectivity solutions worldwide, uses a method for creating physical prototypes with computer-aided design (CAD) data. This so called 'Rapid Prototyping' enables development times to be shortened, costs to be lowered and innovative ideas to be realised more quickly. BizLink's Automation & Drives business unit will showcase one of these solutions at the sps trade fair in Nuremberg, Southern Germany, which takes place from 14 to 16 November. In the development and production of individual injection moulded parts, a large part of the cost and time is spent on providing the appropriate tools. That is why BizLink uses Rapid Prototyping for sample parts in the development phase of overmoulded connection components. The principal objective of this technology involves testing and validating design concepts, functionality and features before there is any investment in series production. Through Rapid Prototyping, BizLink thus reduces development costs and time-to-market for overmoulded components and its reinforced innovative cable systems for factory automation. Rapid Prototyping involves applying layer upon layer of materials or bonding them to one another with 3D printing to make the desired object. This makes it possible to quickly adapt the design as changes can easily be made in the CAD data and the prototype can then be reprinted. It also allows, for example, the spatial conditions during fitting and operation under real-life conditions to be assessed, letting the findings thereby acquired be incorporated in product improvement before a tool-maker has even started his or her job. 3D printing technology can furthermore make valuable contributions to quality assurance while development is ongoing. If, for instance, parts being tested must be scrutinised to limit failure mechanisms along functional boundaries, it helps to be able to quickly create a matching testing device for such investigations. In some cases, such devices also facilitate good reproducibility, meaning that dependable component qualifications can also be carried out in this way. Other applications involve trialling numerous production resources and tools as well as handling aids that are, with respect to their function and ergonomics, initially tested as a 3D-printed specimen and improved repeatedly so that they can later be reproduced in a more robust version made of metal, for example. Rapid prototyping is versatile and has long been a proven tool for BizLink in the innovation process to bring new products to market faster and more effectively. Visitors to sps can convince themselves of these advantages through application examples in the Nuremberg exhibition halls from November 14 to 16, 2023 in Hall 2, Stand 431.

Read More

Manufacturing Technology

Stratasys’ Latest Printer Offers Applications with Improved Parameters

Stratasys | November 06, 2023

Stratasys introduces the F3300 3D printer, offering high speed, uptime, and quality for targeting manufacturing industries with high demands. The F3300 empowers manufacturers to accelerate product development and address global supply chain challenges, delivering a strong return on investment. The latest printer will be unveiled during a live event hosted by the company on November 7. Stratasys, a leader in additive manufacturing and polymer 3D printing solutions will showcase its latest F3300 Fused Deposition Modeling (FDM) 3D printer at the Formnext conference, held in Germany from November 7 to 10. This printer offers exceptional value to manufacturing customers with reduced labor, higher part quality and yield, as well as maximized uptime. The solutions provided by Stratasys provide customers a competitive edge at every stage of the product value chain. These solutions include smart and networked 3D printers, polymer materials, a software ecosystem, and components on demand. The most successful companies in the world go to Stratasys to improve health care, provide agility to manufacturing and supply chains, and alter product design. Key Advancements Faster Print Speeds: Increased gantry speeds, speedier extrusion rates, and autocalibration. Higher Part Quality and Yields: Up to 25% improvement in accuracy and repeatability with autocalibration. Maximized Uptime: Machine monitoring, extruder redundancy, and an operator-friendly interface design. Cost Savings: Offers 25-45% savings compared to other Stratasys FDM solutions. Rich Garrity, Stratasys' Chief Industrial Business Unit Officer, remarked that the next-generation AM system empowers customers to scale production and reduce the need to compromise between traditional and additive manufacturing solutions. He added that the conventional capacity limitations, rising global supply chain challenges, and application complexity are incredibly stressful for manufacturing, and F3300 will empower buyers to accelerate product development, allowing faster innovation and maximized ROI. F3300 printer expands the range of production capabilities and provides performance-oriented manufacturers with the most expansive variety of best-in-class FDM printers. The F3300 is the latest addition to the FDM family, which includes the F900, F770, F450mc, and the F123 series. F3300 complements Stratasys’ F900, known for its dependability, use of high-performance materials, and large capacity. Built for manufacturing by the inventors, the F3300 will be the most sophisticated industrial 3D printer in the market. Its advanced features and design will transform how additive manufacturing is used in demanding industries like automotive, government/military, aerospace and service bureaus. The F3300 is expected to be available for shipment from 2024. Stratasys will host a live event on November 7 at 5:30 p.m. CET to uncover the F3300.

Read More

Manufacturing Technology

Rockwell Automation Invests in Momenta Fund for Sustainable Tech

Rockwell Automation | November 08, 2023

Rockwell Automation invests strategically in Momenta's Industry 5.0 Fund, focused on resilient, sustainable, and human-centric industrial operations. The Industry 5.0 Fund promotes a transition from shareholder to stakeholder value, emphasizing sustainability and empowering individuals with technology to make informed decisions. This partnership positions Rockwell Automation to gain early access to innovative technologies that have the potential to disrupt industrial markets and enhance sustainability while supporting startups at the forefront of digital transformation in energy, manufacturing, smart spaces, and supply chains. Rockwell Automation, a global leader in industrial automation and digital transformation, has made a strategic investment in Momenta's Industry 5.0 Fund. The Industry 5.0 Fund, with an initial capital of $100 million, supports startups dedicated to advancing resilient, sustainable, and human-centric industrial operations. Switzerland-based Momenta launched the fund in cooperation with the EU Commission to promote research and innovation in line with the Commission's Industry 5.0 initiative. The fund aims to transition industries to focus on stakeholder value over shareholder value, emphasizing sustainability and empowering people with information and technology for decision-making. Targeting entrepreneurs in Europe and North America who are at the early stages of development and are at the forefront of the digital revolution in energy, manufacturing, smart spaces, and supply chains, the Industry 5.0 Fund will provide them with venture capital funding and direct value creation. Rockwell Automation is an anchor investor in the fund, allowing the company early access to cutting-edge technologies that can disrupt industrial markets and enhance sustainability. The investment aligns with Rockwell's strategy for inorganic growth and provides valuable insights into next-generation technologies driving digital transformation. Cyril Perducat, Senior Vice President and Chief Technology Officer of Rockwell, expressed excitement about partnering with Momenta to support startups poised to disrupt the industry while expanding human potential. He emphasized the intrinsic benefits of adopting technology that benefits all stakeholders. Ken Forster, a founding partner at Momenta, expressed his appreciation for Rockwell Automation's investment in their Industry 5.0 fund. He acknowledged that Rockwell Automation played a defining role in industrial automation and digital transformation within North America. Under the leadership of an impressive team, they had also been extending their global influence. Ken noted that Momenta's primary focus for the past decade had been investing in companies that drive industrial impact. He further mentioned that they couldn't have found a better partner for the Industry 5.0 fund than Rockwell Automation.

Read More

Events