Tool & die production is an important phase in the development of new components/product models. This phase determines both the lead time (Time-To-Production/-Market) and the size of the investments required to start the production. This paper is focused on Powder Bed Fusion (PBF) and summarizes the current position of 3D metal printing/additive manufacturing (henceforth called 3D metal printing)of industrial tools & dies. It also exhibits the new possibilities to design the tool/die differently simply because the new shape can be produced. Different types of generative design concepts such as form synthesis, topology optimization and lattice and surface optimization are exemplified. The paper exemplifies business cases, the shorter lead times, the associated improved material utilization degree, reduced weight,etc. Low volume production by 3D metal printing is discussed. High volume production by 3D metal printing of manufacturing tools and dies is described. The paper exhibits some examples of digitalization through virtual tool & die design and optimization of the tool& die production and how it provides greater flexibility, better efficiency, tremendous speed, improved sustainability and increased global competitiveness. 3D metal printing is expected to result in several changes in the supplier chain and generate new business models. The present paper describes some of the changes 3D metal printing has led to and is expected to result in within the engineering and automotive industry in Europe during the coming years.