AMT: Transmission- and Powertrain-Parts Manufacturers Investing in TechnologyAugust 14, 2023
June 2023 orders of manufacturing technology increased 12.6 percent over May but fell 1.7 percent below orders in June 2022, according to the latest U.S. Manufacturing Technology Orders Report published by AMT–The Association For Manufacturing Technology. Total orders through the first half of 2023 are off by 13 percent year over year.
One surprising data point: Manufacturers of automotive transmissions have been noticeably increasing investment in manufacturing technology. Year-to-date orders for manufacturing technology from the automotive transmission and powertrain parts-manufacturing sector are at their second-highest level since the first half of 2015.
“Orders have continued their downward trend since peaking in the second half of 2021, but they remain above historical averages,” says AMT president Douglas K. Woods. “Even in non-IMTS years, most orders tend to come in the second half of the year. Despite some headwinds, including fears of a recession, it would seem reasonable that manufacturing technology orders could outperform some of the more pessimistic expectations if we return to that historical trend.”
Job shops, the largest customer segment, only increased spending by 4.2 percent, well under the industry growth of 12.6 percent from May to June 2023. Job shops also decreased the number of units ordered, while the industry remained about flat.
See also: Association for Manufacturing Technology