IndustryNet Blog

U.S. tool & die makers report strong sales, job growth

Posted by IndustryNet on Tuesday, September 5, 2017

100000101toolman2Tool and die makers are machinists who create the parts and tools used to manufacture everything from the smallest toy to the largest jet engine. Originally, all work was done by hand. Today, computer numerically controlled, or CNC, machines perform many of the tasks. Once programmed, CNC machines work quickly, efficiently, and to exact specifications whether an order is for 10 units or 100.

IndustryNet, the leading source for information on U.S. industrial companies, compiled statistical information analyzing tool and die makers in 2017 to gain perspective on current industry trends and compare company performance across a spectrum of data points. This article will explore the tool and die industry as a whole, including regional differences within the United States.

U.S. tool & die manufacturing picks up steam

The U.S. Department of Labor's Bureau of Labor Statistics estimates the median annual wage for tool and die makers is around $51,000 per year - well above the average national wage. While no higher education degree is required to enter the field, most tool and die manufacturers undergo an extensive apprenticeship, learning their craft on the job. Some advance from CNC machine operators to CNC programmers and, eventually, into engineering as all three fields are related. The bureau also projects a 6 percent growth rate in this field in the coming years.

According to its most recent analysis, IndustryNet is tracking 2,108 tool and die companies nationwide with 36,965 jobs and over $2 billion in sales annually. Sales have increased in this sector over the past year by 2.68 percent. Two percent of tool and die companies report sales growth, compared with only one percent of manufacturing companies as a whole.

Midwest leads the nation in tool & die makingtoolman

Regionally, the Midwest is the place to be for tool and die manufacturers. It houses 57 percent of all tool and die companies in the nation. The Midwest also boasts the greatest percentage of tool and die makers, with 63 percent of all tool and die machinists living in that area.

Tool and die employment growth is the highest in the nation in the Midwest with 63.16 percent of new jobs created in the last year found in the region. The proliferation of companies and employees leaves the Midwest with the highest sales growth as well with 73 percent of new sales located in the heart of the country.

All of the other regions trail far behind the Midwest. The Northeast places second in three of the four categories with 19 percent of the nation's tool and die companies, 17 percent of the industry's employees, and 15 percent of the sales growth. It drops to third in employment growth, capturing only 16 percent versus the South at 18 percent.

The South finishes a solid third in the remaining three categories, though, with 17 percent of the nation's tool and die companies, 15 percent of the employees, and 8 percent of the industry's national sales growth. The West finishes last in all categories. It houses only 6 percent of all U.S. tool and die companies, employs 5 percent of all tool and die machinists, representing 3 percent of the industry's growth nationally, and a mere 3 percent of the sales growth.

For more information

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Related posts:
5 pro tips on finding the right tool & die manufacturer for your business
Meet America's largest and fastest-growing tool & die makers

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