Featured Image

US Cutting Tool Orders Totaled $214.4 Million in May 2024, Raising the Year-to-Date Total 4% Over 2023

Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT – The Association For Manufacturing Technology and the U.S. Cutting Tool Institute (USCTI), were $214.4 million in May 2024.
Jul 10, 2024

READ FULL PRESS RELEASE

McLean, Va. (July 10, 2024) — Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT – The Association For Manufacturing Technology and the U.S. Cutting Tool Institute (USCTI), were $214.4 million in May 2024. Orders decreased 0.1% from April 2024 but grew by 1.8% over May 2023. Year-to-date shipments totaled $1.06 billion, up 4% from shipments made in the first five months of 2023.

“May’s results indicate that production levels remain strong, but I think the historically high numbers can be somewhat attributed to inflation,” observed Jack Burley, chairman of AMT’s Cutting Tool Product Group. “Backlogs are coming down, and most job shops are no longer working overtime, but they’re still dependent on the core customer base they support. A side benefit is that shops now have time to test new products and work on process improvements rather than focusing on hitting their shipments every week.”

Alan Richter, editor-at-large of Cutting Tool Engineering, noted: “Through May 2024, shipments of cutting tools continued to show a slight increase in the year-to-date percentage. However, the near-flat growth in recent months is partly due to the challenges faced by aerospace and defense manufacturers. Like most manufacturers, they have needed to overcome supply chain snags, longer lead times, and a shortage of skilled workers, even while demand for their products is relatively strong as geopolitical instability unfortunately grows and the demand for global air travel climbs."

The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations representing the development, production, and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process – the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.

# # #

AMT – The Association For Manufacturing Technology represents and promotes U.S.-based manufacturing technology and its members – those who design, build, sell, and service the continuously evolving technology that lies at the heart of manufacturing. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, extensive global support, and business intelligence systems and analysis. AMT is the voice that communicates the importance of policies and programs that encourage research and innovation, and the development of educational initiatives to create tomorrow’s Smartforce. AMT owns and manages IMTS – The International Manufacturing Technology Show, which is the premier manufacturing technology event in North America.

The United States Cutting Tool Institute (USCTI) was formed in 1988 and resulted from a merger of the two national associations representing the cutting tool manufacturing industry. USCTI works to represent, promote, and expand the U.S. cutting tool industry and to promote the benefits of buying American-made cutting tools manufactured by its members. The Institute recently expanded its bylaws to include any North American manufacturer and/or remanufacturer of cutting tools, as well as post-fabrication tool surface treatment providers. Members, which number over 80, belong to seven product divisions: Carbide Tooling, Drill & Reamer, Milling Cutter, PCD & PCBN, Tap & Die, Tool Holder and All Other Tooling. A wide range of activities includes a comprehensive statistics program, human resources surveys and forums, development of product specifications and standards, and semi-annual meetings to share ideas and receive information on key industry trends. 

# # #

PicturePicture
Author
Christopher Chidzik
Principal Economist
Recent intelligence News
Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT and USCTI, totaled $198.6 million in February 2025. Orders decreased 0.7% from January 2025 and were down 9.2% from February 2024.
Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT and USCTI, totaled $199.9 million in January 2025. Orders increased 9.2% from December 2024 but were down 4.1% from January 2024.
Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT and USCTI, totaled $179.5 million in December 2024, down 2% from November 2024. Shipments totaled $2.43 billion for 2024, down 0.6% from 2023.
Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT and USCTI, totaled $183.1 million in November 2024. Orders decreased 13.8% from October 2024 and were down 9.7% from November 2023.
Shipments of cutting tools, measured by the Cutting Tool Market Report compiled by AMT and USCTI, totaled $212.5 million in October 2024, a 12.6% increase from September 2024 but down 0.2% from October 2023. Year-to-date shipments totaled $2.07 billion.
Similar News
undefined
Advocacy
By Kevin Bowers | May 21, 2025

As tariffs remain a top concern across the manufacturing technology industry, AMT surveyed 59 member companies to assess their impact. The data reveals price increases, operational stress, strategic uncertainty, a need for sustained advocacy, and more.

7 min
undefined
Technology
By Travis Egan | May 20, 2025

It’s not just about speed on the racetrack. It’s about precision, repeatability, and empowering people with the tools and insights to do the job right the first time.

3 min
undefined
Intelligence
By Christopher Chidzik | May 12, 2025

New orders of metalworking machinery, measured by the USMTO Report published by AMT, totaled $515.8 million in March 2025, the highest monthly value since March 2023. March 2025 orders increased 33.8% from February 2025 and were up 20.5% from March 2024.

5 min