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Why manufacturing?

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Glossary of manufacturing terms

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Why manufacturing?

Overview

  • U.S. manufacturing is the world's 8th largest economy

  • U.S. manufacturing pumps over $1.4 trillion into the U.S. economy each year.

  • It annually generates an additional $2 trillion in economic activity.

  • The United States is the #1 destination for foreign direct investment.

  • U.S. manufacturers produce more today than at any other time in U.S. history.

  • For every dollar of manufactured goods produced, an additional $1.37 of economic activity is generated.

  • The U.S. manufacturing sector leads in innovation:
    -- Accounts for 57% of industrial R&D
    -- The new products and processes developed in manufacturing contribute significantly to U.S. competitiveness, economic leadership and the current high standard of living.

  • $1.5 billion of containerized shipments pass through U.S. ports each day.

  • The manufacturing sector will increase its spending on IT services to a total of $455.7 billion by 2009.

  • Manufacturing construction is projected to increase every year, reaching more than $25 billion by 2009.

  • U.S. ports and waterways handle more than 2 billion tons of domestic and import/export cargo annually.

  • By 2020, forecasts predict that the U.S. transportation system will handle cargo valued at more than $28 trillion, of which $4 trillion will pass through our nation's ports.

Sources:
The Manufacturing Institute, National Association of Manufacturers and RSM McGladrey Inc., The Future Success of Small and Medium Manufacturers: Challenges and Policy Issues
Gartner, Forecast: Manufacturing IT Spending, Worldwide, 2005-2009
U.S. Census Bureau of Labor Statistics
Manufacturing Construction FMI Corp.
U.S. Machine Tool Consumption: A joint statistical program of AMT and AMTDA
Council of Supply Chain Management Professionals
American Association of Port Authorities

 

Manufacturing outlook

  • Automakers, governments, utilities and oil and gas companies are pouring billions into hydrogen research -- more than $10 billion will be spent on hydrogen research over the next ten to fifteen years worldwide. This will lead to a mass-market set of manufacturing innovations, similar to the innovations that first launched the modern auto, train, and shipping industries.

  • One trend that will continue: manufacturing jobs will continue to be shipped from large U.S. cities to smaller U.S. cities, like Wheeling, W.Va.  The reason: these cities can deliver employees with a strong work ethic, and relatively low wages.

  • With advanced manufacturing technology, businesses are able to deliver on mass customization.  This is part of a broader trend toward faster, more specialized manufacturing. The customizing concept, conceived of decades ago, is to crank out one-of-a-kind, custom-fit goods at mass-production prices.

  • Another manufacturing trend: market customization.  One example, developed by Trek Bicycles, is where the company offers a commuter bike designed for the rainy Northwest, and another commuter bike, with more urban chic, for New York.  The auto and engine industries are also doing mass or market customization.

  • A couple of growth markets for U.S. manufacturers as noted by Frost & Sullivan and other research firms: wind power generation units, selected consumer electronics, including portable digital audio and gaming devices, and food processing that involves nanotech and biotech components and processes.

 

U.S. Manufacturing: Dying...Or Still Going Strong?

It's easy to get the impression that U.S. manufacturing is dying -- and that China is the culprit. The numbers, however, tell a different story. Download this two-page PDF published by the US-China Business Council, which debunks some of the most common myths about U.S. and Chinese manufacturing.

For more information, contact the US-China Business Council

 

More resources for manufacturing data

   

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