Sheet metal forming processes for manufacturing truncated cones can be divided into methods which use shape related tooling to produce the required form, for example, spinning and deep drawing, and processes that utilise kinematics to produce the required geometry, for example, roller, air and swivel bending. Such kinematic forming methods can achieve high degrees of forming flexibility but require process models to avoid elaborate trial and error approaches. For the incremental manufacture of cones, CNC swivel bending as yet lacks such a process model. In addition, with the current ‘state of the art’ processes, the manufactured cones exhibit geometric defects with respect to concentricity and skewing. In this study, the operation of a CNC bending machine fitted with an upper beam that can be inclined was investigated. The proposed inclination of the beam corresponds to the desired conical shape of the product. The machine was provided with a radial sheet feed mechanism (back-gauge) to feed material in even segments between bent corners thus avoiding geometric imperfections. A plasto-mechanic process model was developed to deliver the process parameters for swivel bending of specific conical geometries. The process model was validated by numerical simulations and practical bending experiments. Coarsely segmented conical shapes can be manufactured using the analytically calculated process parameters. For conical geometries, the process modifications of sequential swivel bending showed satisfactory improvements in the initial bending defects, that is, lack of concentricity and skewing. Compared with the target geometries, a tendency towards larger diameters remained in the experiments and is explained by the boundary conditions of the sequential process and if a larger number of bending increments is carried out. The present study delivers a first approach to determine the process parameters for the sequential operation of a swivel bending machine in order to provide relevant process parameters for the industrial production of conical components.