Aerospace Industry Continues to Invest in Manufacturing Technology, but Automotive Paring Back
June 10, 2024Comments
April orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology, decreased by 25.6% compared to March 2024, but registered only a 5.4% decline compared to April 2023 orders. Through April, year-to-date orders are off 16.2% compared to 2023. However, although 2024 has had the weakest start to the year since 2020, orders through April are nearly 5% above the average order volume through the first four months of a year (based on data gathered since 1998, when USMTO began tracking orders).
Contract machine shops experienced the slowest start to a year since the first few months of 2020, when COVID shutdowns caused orders to crater. And while the automotive industry, after two strong years of orders, has begun to pare back investment in manufacturing technology, the aerospace industry has continued its elevated level of investment into 2024. Driven by a pool of talented workers, aerospace companies, the report finds, have been opening and expanding manufacturing operations in the Southeast U.S. over the last several years, particularly in North Carolina.
See also: Association for Manufacturing Technology
Technologies: Management
