Industry News

November 2023 U.S. cutting tool consumption totaled $202.7 million. This total was down 4.9% from October’s $213 million and up 4.4% when compared with the $194.1 million reported for November 2022.

Eagle Manufacturing is a thriving student-run manufacturing business out of Brown County High School in Nashville, Indiana.

Metal 3D printing enables space companies to manufacture key components on an industrial scale

As of Jan. 1, 2024, all support for Elliott Tools will transition to Elliott. This includes sales and service support for all metal finishing, burnishing, recessing and mechanical joining tools previously sold by Monaghan. This will open the door for the company to focus on its goal of being a “cutting tool expert.”

The European project Target-X has launched its second open call to strengthen important economic sectors in Europe by integrating 5G and 6G, accelerating the digital transformation. 

Ceratizit has received an environmental award known as the Prix de l'Environnement 2023 from the Luxembourg industry association FEDIL for the process used to manufacture the carbide grades in the upGRADE family of cutting tools.

October 2023 U.S. cutting tool consumption totaled $219.2 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.

The Christmas season and its traditions may have faded into memory, but one traditional Christmas icon now has a metal counterpart that will last for many Christmases to come.

Allied Machine and Engineering, a leading manufacturer of holemaking and finishing cutting tools for the metal cutting industry, celebrates 50 years of Wohlhaupter’s MultiBore, the world’s first modular boring system.

Collaboration with BMW, Decathlon, and others accelerates adoption and scale of more sustainable manufacturing.

The Energy Management System (EMS) market in 2022 was valued at $41.62 billion, and is expected to reach $132.77 billion by 2030 at a CAGR of 15.60% over the forecast period 2023-2030. 

The integration of Industry 4.0 principles, such as Internet of Things, is driving the demand for engineering polymers used in smart manufacturing equipment and sensors. The materials need to withstand harsh industrial environments.

According to a recent study on “Iron Powder Market Forecast to 2030,” the iron powder market size was valued at $1.8 billion in 2022 and is expected to reach $2,88 billion by 2030.

A recent market study shows that the predictive maintenance market is expected to grow from $5.3 billion in 2021 to $26.5 billion by 2028. The market is anticipated to grow at a CAGR of 27.4% from 2022 to 2028. 

Howard Community College (HCC) in Columbia, Md., has launched an $11 million capital campaign in support of a new campus-based workforce development and skilled trades center. 

Siemens Digital Industries Software and Ricoh have begun a collaboration to realize the industrial aluminum Binder Jetting (BJT) solution for mass production.

Netlogistik hosted its first annual Innovation Day for the US on November 8 in Grapevine, Texas. The company invited leaders and experts from throughout the supply chain and logistics industry to provide attendees with a "transformative experience."

According to a recent research study, the demand of global 3D Motion Capture System Market size & share was valued at approximately $340 Million in 2022 and is expected to reach $373 Million in 2023 and continue to grow through the decade to reach a value of around $670 Million by 2032.

The  Monthly Leasing and Finance Index is a survey of 25 companies representing a cross-section of the $1 trillion equipment finance sector that shows, in near real-time, that the overall new business volume for September was $9.7 billion, down 5 percent year-over-year from new business volume in September 2022.

The robot market, in terms of revenue, was estimated to be worth $74.10 billion in 2022 and is poised to reach $231.48 billion by 2030, growing at a CAGR of 15.3% from 2022 to 2030 according to a new report published by The Insight Partners.