Manufacturing Technology Orders on a Winning Streak
December 14, 2021Comments
“The manufacturing technology market is flourishing in the current economic environment. Unfortunately, the impact on the bottom line isn’t as significant. Our members are caught between higher material, component and transportation costs.”
So says Douglas K. Woods, president of AMT–The Association For Manufacturing Technology, McLean, VA. New orders of manufacturing technology totaled $571.5 million in October 2021, according to the latest AMT U.S. Manufacturing Technology Orders Report. October orders declined 3.6 percent from September 2021 but increased by 50.2 percent over October 2020. Total orders in 2021 nearly reached $4.7 billion, a 53-percent increase over 2020. The three consecutive months ending in October totaled $1.7 billion, the largest three-month total since April 1998.
The U.S. manufacturing technology market growth rate of 53 percent over 2020 levels is particularly exciting because the critical component producers and industries hit hard by offshoring in the 1990s are driving this expansion through dramatic investments to expand U.S.-based capacity. These industries increased capital-expenditure investment by multiples of previous years, far exceeding October’s market mean of 53 percent. The current level of manufacturing technology orders signals a start of manufacturers reinvesting in American-based production and strengthening of U.S. manufacturers’ supply chains.
See also: Association for Manufacturing Technology
Technologies: Management
Event
