Machine Shop Services in the US
The Machine Shop Services industry slowly contracted in the five years to 2017 after posting revenue declines in three of the past five years. A further decline was mitigated by a robust rebound in the industry's major markets, specifically commercial aerospace and transportation manufacturing, which picked up in 2012. In fact, nearly all of this industry's downstream markets have expanded over the past five years and are currently operating with improved market conditions. However, as a result of falling metals prices from 2013 to 2015, the industry was not able to expand during the five-year period; industry revenue is expected to decrease over the five years to 2017. Over the next five years, operators will devote further resources to satisfy growing demand from manufacturers in markets like automobile manufacturing, commercial aircraft manufacturing and metal forging. As a result, industry revenue is forecast to grow over the five years to 2022.
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.