Featured Image

USMTO November 2021 Monthly Orders Exceed $650 Million

Orders of manufacturing technology surpassed $650 million in November 2021, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology.
Jan 10, 2022

DOWNLOAD PRESS RELEASE

McLean, Va. (January 10, 2022) – Orders of manufacturing technology surpassed $650 million in November 2021, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology. This is the second-highest monthly total and only the fifth instance monthly orders have exceeded $600 million since the beginning of the program in 1998. The value of orders was up nearly 14% from October 2021 and more than double the value of orders received in November 2020. The year-to-date total topped $5.3 billion, about $340 million short of becoming the best year in the history of the program.

“November orders illustrate continued recovery despite ongoing challenges brought on by the pandemic. Tool and die, valve manufacturing, forging and stamping, and hardware – sectors in decline due to decades of outsourcing prior to the pandemic – continued to make a comeback due to reshoring,” said Douglas K. Woods, president of AMT. “Job shops showed a modest decline in dollars spent but a double-digit increase in orders, indicating an industry-wide need for increased capacity.” 

Two primary sectors that show increased orders despite continued challenges are aerospace and off-road equipment. The aerospace sector has experienced challenges with flight cancellations and staffing issues that may dampen any near-term plans to increase fleet sizes. However, despite these disruptions, this sector has nearly doubled its orders from the previous month. Heavy off-road equipment used for agriculture, mining, and construction have also increased by multiples over October 2021, likely due to anticipated interest rate hikes. 

“The sectors that make large-scale off-road equipment require more complex and highly customized machinery to make them, and they tend to be dependent on financing and sensitive to interest rates,” said Woods. “Orders coming from these rate-sensitive sectors in November may have been an attempt to lock in financing prior to the December Federal Reserve meeting, preempting any surprises that would increase the cost of borrowing.”

Despite the index slipping in December 2021, the ISM Manufacturing Purchasing Managers’ Index remained solidly within growth territory. “Manufacturers have learned that supply chain disruptions and labor shortages are part of the landscape and are developing short and long-term strategies to address these challenges,” said Woods. “If manufacturers can continue to successfully adapt, I can see the momentum of the manufacturing technology industry continuing into 2022.” 

PicturePicture
Author
Kristin Bartschi
Director, Marketing & Communications
Recent intelligence News
Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology, reached $435.7 million in March 2024. Orders grew nearly 25% above the February 2024 level.
Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology, totaled $343.3 million in February 2024.
Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT, totaled $338 million in January 2024, a 31% decline from December and a 3.7% decline from January 2023.
In an upside surprise, December 2023 orders of manufacturing technology totaled $491 million, up nearly 22% from November 2023, and nearly 12% above December 2022, according to the U.S. Manufacturing Technology Orders Report published by AMT.
Despite a soft economic landing, U.S. manufacturing technology orders, per the U.S. Manufacturing Technology Orders Report published by AMT, saw a 10.3% decline to $399.8 million, contributing to a year-to-date drop of 13.3% compared to 2022.
Similar News
undefined
Technology
By Peter Zelinski | May 01, 2024

Formnext Chicago arrives next year. AMT's Doug Woods, Mesago's Sascha Wenzler, and Gardner's Peter Zelinski discuss the long road to this event, the importance of Formnext coming to additive's biggest market, and the competitive 2025 event landscape.

7 min
undefined
Technology
By Bonnie Gurney | Mar 18, 2024

While additive manufacturing has significantly matured, further development depends on the current market evolving, which will require developing opportunities to showcase it as well as changing how we think of it – that it's more than 3D printing a part.

6 min
undefined
Intelligence
By Christopher Chidzik | May 20, 2024

March 2024 U.S. cutting tool consumption totaled $212.4 million, according to USCTI and AMT. This total, reported by the Cutting Tool Market Report, was down 1.1% from February’s $214.6 million and down 5.8% from the $225.6 million reported in March 2023.

3 min