Velo3D Inc.
(NASDAQ:VELO) CEO Arun Jeldi says the intensifying space race is pushing companies to accelerate production, driving growing demand for additive manufacturing as customers move from prototypes to large-scale deployments.
Multiple Customers Moving To Production During Velo3D's second-quarter earnings call on Tuesday, Jeldi noted that the Space race had intensified to the point where there were "multiple space companies" in the market and that the companies were "pushing the limits to speed up their production rates." Read Also: Gary Black Says Investors ‘Losing Faith’ That Tesla Can Scale Autonomy—Blames Elon Musk’s Vision-Only Approach He then said that several "existing customers" of the company, who had proven their prototypes, were "going to production level at a high scale" and pointed towards the company's energy market customers.
"To run all this energy market, electricity is the key," Jeldi said, adding that clean energy customers were incorporating "various turbines and design changes" which have "led to a greater demand on production." Velo3D's Production Ramp, Earnings Jeldi, during the earnings call, signaled the need to up production of its 3D printers, saying that the company absolutely needed 100 machines to "actually run all the programs on the demand" that it had.
