Manufacturing is one of the country’s biggest sectors. As of March 2017, more than 12.4 million Americans hold a job in manufacturing. Market analysts generally agree that the American manufacturing industry is trending in a positive direction — a belief mirrored by recent Purchasing Managers’ Index (PMI) reports by the Institute of Supply Management (ISM). So, what’s in store for the future of American manufacturing?
The U.S. Bureau of Labor Statistics (BLS) said in October 2017 that 10.5 of the 11.5 million manufacturing jobs created from 2016 to 2026 will be in services. This, of course, including goods productions service, which is a core component of manufacturing.
We’ve talked about this before on our blog, but it’s worth mentioning again that automation is expected to transform the American manufacturing industry. This isn’t a new trend, however. As explained by Business Insider in 2016, manufacturing companies are using robots to automate many common production tasks that were previously performed by human workers. This doesn’t necessarily mean that robots will eliminate the need for human workers. It only means that automation is changing the way in which manufacturing companies produce goods.
Another prediction for the future of American manufacturing is an emphasis on green, Eco-friendly materials and practices. Known as green manufacturing, it offers numerous benefits for manufacturing companies. For starters, green manufacturing creates a positive brand image for the respective company. Manufacturing companies that take a proactive approach towards promoting a clean environment are rewarded in the form of a better brand image. Additionally, green manufacturing offers cost-savings benefits to companies. Recycling and reducing waste, for instance, lowers production costs and improves the bottom line for manufacturing companies.
Internet of Things
The Internet of Things (IoT) is making its way into the American manufacturing industry. In case this is your first time hearing about it, let me explain. The IoT refers to a collection of networked devices, systems and equipment. Manufacturing companies may install IoT sensors on their machines to monitor and track progress. Using this data, they can then optimize their manufacturing processes for improved performance.
Finally, new materials are being introduced into the American manufacturing industry. One such material is carbon nanotubes, which are now being used in the field of nanotechnology, optics and electronics. Carbon nanotubes are made of carbon, though they they live up to their namesake by featuring a size in nanoscale.
These are just a few predictions for the future of American manufacturing. So, which of these predictions do you think will come true?