2024 a Solid Year for Aerospace Manufacturing

December 2024 orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders (USMTO) report published by AMT–The Association For Manufacturing Technology, registered the highest level since March 2023, increasing by 15% from November 2024 and 5.4% above December 2023. However, year-to-date orders declined by 3.8% compared to orders placed in 2023, the third consecutive year machinery orders have declined. 

A positive sign: Orders in 2024 were 9.7% above the annual average dating back to 1998, indicating that demand is resilient for machinery despite these declines. Orders from contract machine shops, the largest consumer of manufacturing technology, which dragged down the overall market in the beginning of 2024, picked up as the year progressed. Orders from this segment slightly outperformed the market, declining only 3.7% compared to 2023. And despite a lackluster year for Boeing, orders of manufacturing technology from the aerospace sector have increased significantly as the sector deals with ongoing capacity issues. December 2024 saw the highest order volume from this sector since December 2021, and total orders through the year increased nearly 32% from 2023. And, after three years of heightened investment, automotive manufacturers pulled back orders in 2024 as demand for vehicles normalized and the industry braced for the potential impact of tariffs.

See also: Association for Manufacturing Technology

Technologies: Management

Subscribe to the Newsletter

Start receiving newsletters.