Machine Technology Sales Have Been Very Profitable Lately
According to the USMTO report published by The Association for Manufacturing Technology (AMT), the manufacturing industry has seen a gigantic boom in machine technology-related sales in 2021. For those unaware, The United States Manufacturing Technology Orders (USMTO) Report is based on the totals of actual sales data reported by companies participating in the USMTO program. This report, compiled by AMT, provides regional and national U.S. orders data of domestic and imported machine tools and other related equipment. Manufacturing technology orders can be used as a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity, and improve productivity and OEE.
To recap the last few months of 2021, orders of new manufacturing technology totaled $590 million in September 2021. Those numbers represented a 9 percent growth from the previous month in August 2021. At this point in 2021, machine tech orders totaled $4.115 billion, a 53% increase over the same 9-month time period in 2020. While the pandemic hurt the manufacturing landscape in 2020, this growth is the biggest for some industry sectors since 2011. “The manufacturing technology market is flourishing in the current economic environment,” said Douglas K. Woods, president of AMT.
The growth rate of 53% over 2020 levels in the U.S. manufacturing technology market is remarkable. We are seeing a significant expansion of U.S.-based capacity through dramatic investments by crucial component producers and industries hit by offshoring in the 1990s. In the current environment, the level of manufacturing technology orders suggests that manufacturers are reinvesting in American-based production and strengthening supply chains. Below you will find a screenshot of the latest published USMTO press release for November 2021 which saw sales hit $650 million.
Source: https://www.amtonline.org/article/usmto-november-2021-monthly-orders-exceed-usd650-million
