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U.S. manufacturers of precision machined components are seeing rapid growth

Posted by IndustryNet on Wednesday, October 31, 2018

100000292precision_machiningPrecision machined components and parts are a rapidly growing industry in the United States. In the face of new tariffs on certain raw materials and components, this sector of the manufacturing industry is not slowing down.

In fact, the main industries that rely on precision machined parts are all expected to grow over the next few years.

These industries include automotive, aircraft, household appliances, spacecraft, tech hardware, medical devices, munitions, heavy machinery and military equipment.

Future trends

Forecasts are predicting continued growth as tariffs begin to positively influence domestic manufacturing. As large firms return production and assembly to the U.S., the opportunities for precision manufacturing are also slated to increase.

There is currently a shortage of precision machines capable of the kind of work required to assemble complicated products such as commercial aircraft. This demand is predicted to continue for at least several years as production backlogs slowly clear out.

Strong growth

Latest data for the precision machine manufacturing segment indicate unmistakably strong growth. This particular sector has seen an increase in jobs of 3.72 percent over the last year. This amounts to 930 new positions added to a total of 25,925 jobs spread out over 1,267 companies.

These same companies have a combined average sales figure of $10.4 billion. That sales figure is an impressive 14.6 percent higher than the previous year's average.

Distribution

Precision machine manufacturing contributes significantly to the economic base of the entire United States. Regionally, the greatest concentration of these manufacturers is based in the Midwest, with 33 percent of the nation's total located here.

For a region hit hard by the Global Recession of 2008, this is very encouraging news. Next, it is nearly a tie between the South and the Northeast with 27 percent and 25.81 percent, respectively. Finally, the West contributes 14.29 percent to the national total of precision manufacturers.

Precision manufacturer profilesPrecision_machining_student_female

What does a typical large precision machine component manufacturer look like? Engineered Machine Products Inc. in Escanaba, Michigan (TS/ISO 16949:9001) employs 450 employees in three large facilities and is currently the largest precision machined parts manufacturer in the nation.

Leveraging advanced automation, their facilities are able to operate around the clock, reducing the time required to complete a given production run.

Their main market focus is mechanical and electrified thermal and oil management systems for various industries.

Some of the component types they specialize in include electric water pumps, brushless alternators, electric fans and oil management systems. Their proprietary Mini-Hybrid Thermal System has become nearly industry standard for transit buses across the nation, with over 500 municipalities utilizing their product.

A close second in size, Acutec Precision Aerospace Inc. in Saegertown, Pennsylvania (ISO 9001:2015) is staffed by 442 people and focuses on high-tolerance aerospace parts. Rotor and vibration damping, turbine engine hot section components, hydraulic actuation systems, rod end centers and landing gear systems are all part of their expertise.

They utilize modern facilities containing over 225 CNC machines, non-destructive test equipment and five separate inspection labs. As a certified woman-owned small business, their customers include major aerospace manufacturers, airlines and military operators.

Connect with precision machined components makers

IndustryNet conducts continuous and detailed research on 400,000 manufacturers. The data they collect is used to help customers make informed decisions not just on sourcing, but also on industry trends.

Searching their database is free and easy, with filters for everything from location to capability. As a go-to resource, customers can also request quotes from multiple suppliers to streamline their process.

Click here to see a full listing of the nation's precision machined components makers. 

 

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