The cutting tool industry has long spanned a wide field of manufacturing and commercial activities. This diversity has often proven to be the strength of the cutting tool sector, and this was as true as ever in last decade. With a decline in agriculture, oil and coal, the cutting tool suffered a number of losses last year. However, evolving aerospace and automotive fields buoyed those losses and now serve to propel the cutting tool industry to a higher level of earnings. As we move through 2020, the year-over-year growth is especially encouraging and with exciting aerospace and automotive advancements around the corner, the opportunities for those in the cutting tool industry are especially encouraging.
Automotive Industry Rolls On
As referenced in the introduction, strong automotive numbers in 2016 played a big part in keeping the cutting tool industry from a much larger and more dramatic fall. The National Automobile Dealers Association predicts domestic new-vehicle sales will remain above the 17 million mark, an indicator of a thriving automotive industry that continues to expand in new ways. In addition to reflecting on sales forecasts, the nature of the automotive industry itself is on the verge of perhaps its most dynamic shift. As semi-autonomous vehicles become less science fiction and more a reality, the commercial possibilities of self-driven cars could spark unparalleled growth. From major industry upheaval related to long-haul trucking to smaller, yet still considerable shifts in the use of self-driving passenger vehicles, microsegments as simple as pizza delivery could be transformed.
What is clear is that the automotive industry is on the cusp of unprecedented growth and expansion. That growth and expansion is going to rely on coincidental growth and expansion of the automotive cutting tool industry. This paralleled rise means exciting possibilities and an increase demand of specialized talent in both sectors.
Aerospace Continues to Rise
While the automotive industry is no doubt in the throes of monumental transformation, that transformation is largely one of vehicular purpose and application. In terms of the nuts and bolts of automotive manufacturing, there seems to be little in the way of changing the basic construction of vehicles. The aerospace industry, however, not only shows promise for continued growth, but it also has made evident a need to incorporate radical improvements to materials and manufacturing technology. With a growing demand for aerospace travel and the possibilities of commercial space travel on the horizon, the aerospace industry promises expansion into uncharted territories in next few years.
There is little question in regards to the exciting economic and social possibilities for the cutting tool industry, as it promises to be a key player in the growth of the automotive and aerospace industries. What this also makes clear is a continued demand for even more experienced and defined cutting tool talent. As the technologies and techniques involved in the industry become more niche, so does the level of talent. The best opportunity available to cutting tool companies who hope to carve out a space within the aerospace and automotive sectors is to partner with established and reputable recruiting firms like Davalyn Corporation. With the resources made available through Davalyn, locating and acquiring specific talent is expedited, setting you apart from competitors.
Related industries: Cutting Tools & Tungsten Carbide