The Status of the Metalworking Industry
How North American manufacturers are evolving and adapting
The metalworking industry is a tumultuous landscape. Finding qualified labor, economic uncertainty, technology improvements and many more challenges are constantly pushing companies of all sizes to evolve and adapt in order to stay competitive and profitable.
Practical Machinist, in collaboration with the Society of Manufacturing Engineers (SME), dove deep into these challenges to identify the key factors that make modern machine shops successful and shed some light on how business conditions, the economic environment and advancements in technology are impacting the industry at an individual company level.
Key topics addressed in this report include:
- The main challenges that metalworking businesses are facing
- Business conditions over the past year and expected outlook for 2020
- How manufacturers are reacting to the skills gap and investing in their workforce
- The impact of new or upgraded equipment, additive manufacturing and automation on productivity and profitability
- Buying behavior and how manufacturers conduct research before investing in new equipment