Featured Image

It All Adds Up: More Additive Machine Data Provides More Insights

Additive is not a new process, but since it has begun to be used more widely in industrial settings, the one thing the technology cannot seem to manufacture is a source of reliable, consistent, and publicly available statistics on the size of the U.S. ...
Apr 03, 2023

Additive manufacturing is quite different from traditional subtractive manufacturing. Even down to the name, they are literally opposites. However, one area with significant overlap between the two technologies is the value of data on the size and composition of the market. Additive is not a new process, but since it has begun to be used more widely in industrial settings, the one thing the technology cannot seem to manufacture is a source of reliable, consistent, and publicly available statistics on the size of the U.S. market for additive machines.

One Step Forward

Fortunately, a great leap forward took place at the end of 2022, when the World Customs Organization introduced a new HS code specifically for additive machines. While this will go a long way in understanding international trade in these machines, data remains lacking on the machines that are produced and consumed in a domestic market. This data would go a long way in helping companies determine the size of their market and identify opportunities for future sales.

When the National Machine Tool Builders’ Association was founded, one of its original purposes was to gather data on the market for machine tools so its members could make better business decisions. Fast-forward over 120 years, and while NMTBA has evolved into AMT – The Association For Manufacturing Technology, its commitment to delivering the most comprehensive industry statistics has not waivered. Through the USMTO program, AMT can track the ever-changing demand for manufacturing technology, providing valuable business intelligence to participating companies and a leading economic indicator to the general public.

Why the Data Matters

The data aggregated by USMTO is what makes the insights in this column possible. It also helps form content for presentations by AMT staff as well as research for participating members. The real value comes from the monthly frequency of the data. This allows AMT analysts to find correlations between the machinery orders and other data sets produced by the U.S. government as well as other associations and businesses. The analysis of the data is not limited to AMT staff. Participating companies can use the data to identify lost sales opportunities, anticipate changing customer demands, and calculate their market share by geography, technology, and customer industry. The greatest insights come when AMT and a participating company combine their expertise to create custom reports and analytics that attempt to answer the question on any business leader’s mind: Where is the market going?

Tracking orders for additive technologies monthly through the USMTO program would allow for comparisons with broader economic measures, which could become the foundation for an industry-wide forecast, a company’s sales goals, or performance monitoring across numerous dimensions. While the technologies may be different, companies who focus on additive or subtractive machinery can both manufacture value from consistent, frequent, and timely market data.

If you build or sell manufacturing technologies, particularly in the additive category, you are eligible to participate in USMTO and gain access to the monthly market data mentioned in this article. Additionally, if you already participate in one of the AMT benchmarking surveys and want to learn more about how we can pull insights from your data, we are only an email away.


If you have any questions about this information, please contact Chris at cchidzik@AMTonline.org.

PicturePicture
Author
Christopher Chidzik
Principal Economist
Recent intelligence News
Get answers from leading economists who provide financial outlooks for manufacturing. Pick up even more details about changing economic factors and their impacts at AMT’s MTForecast 2023 conference in October.
Get insider information about growth opportunities in aerospace, machine shops, and additive manufacturing from leading industry experts and other growth markets in this article at AMT’s MTForecast 2023 conference.
The MTForecast conference gives manufacturing leaders the industry insights, economic forecasts, and marketing data for they need to make smart business decisions.
In the past eight weeks, a lot has happened: a hawkish pause from the Federal Reserve, two strong jobs reports, and much more. Catch up on what’s happened by registering for AMT’s Summer Economic Outlook Webinar on Thursday, August 3 at 1:00 p.m. EDT
As manufacturers lean more and more into automation, the only way to measure the success of their efforts is with … measurement. Investments in metrology, like other forms of automation, contribute to the overall efficiency ...
Similar News
undefined
Technology
By Stephen LaMarca | Dec 01, 2023

WTH is going on with carbon steel? NASA's RC tank 'splines space shuttle tires. Metal AM's coming-of-age. The impact of closed-loop. Movie time! Amazon's robots.

6 min
undefined
Technology
By Benjamin Moses | Nov 17, 2023

What other area is data-rich? Let's get real about cybersecurity. What is the key to digital manufacturing? C'mon – we're not even done with Industry 4.0. Man, I miss being a CAD jockey.

6 min
undefined
Intelligence
By Christopher Chidzik | Nov 13, 2023

New orders of manufacturing technology totaled $398.9 million in September 2023, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology.

3 min