The Machine Shop Services industry steadily expanded in the five years to 2016, posting revenue growth in each of the past five years. Much of this growth was driven by a robust rebound in the industry's major markets, including commercial aerospace and transportation manufacturing, which picked up in 2011. Over the five years to 2021, operators will devote further resources to satisfying growing demand from manufacturers in markets like automobile manufacturing, commercial aircraft manufacturing and metal forging. Demand from medical device manufacturers is also expected to increase due to a progressively aging US population with an increasing need for medical care. This will heighten the need for micromachined products.
The Machine Shop Services industry cuts raw materials into specified shapes and sizes using a variety of tools, such as lathes, milling machines, grinders and drill presses. Almost all forms of metal product fabrication involve machining, and industry operators may also machine plastic and composite materials.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.