IMTS 2022 Conference: How to Automate Dimensional Gauging on the Production Floor
Manufacturing technology orders fell slightly in May 2022 to $441.2 million, according to the latest US manufacturing technology orders report released by The Association for Manufacturing Technology (ATM).
May orders are down 14% from April 2022, but nearly equal May 2021 orders with a modest 1% drop. Year-to-date orders reached $2.42 billion, a 20% increase over 2021 orders through May.
“Order activity has started to moderate, but given the slight decline from record highs, 2022 is shaping up to be one of the best years in two decades,” said Pat McGibbon, chief insight officer at AMT. “In any other year, numbers like the ones we saw in May 2022 would be one of the high points, but after the run we’ve seen the previous 12 months, the monthly change is more of a return to normal than a dramatic setback.”
Since May 2021, the average monthly units ordered and their values have been in the top 25% in the entire history of the program. “There have been modest signs of inflation starting to take hold in manufacturing technology prices, but the majority of the increase in average value over the past few months is primarily the result of automation increased as a percentage of the total order,” McGibbon said. . “Difficulties in filling vacancies over the past few months, concerns over rising material prices and continued conflict in Europe have heightened risk aversion among clients, leading to investment decisions in capital more cautious.”
“The impact of the pandemic on supply chains has led to reinvestment in industries that were nearly shut down by imports. Industries like mold and die making, fabricated metal products, screws and hardware have increased their capacity well beyond their pre-pandemic levels. McGibbon continued: “In addition to securing supply chains from public health disruptions, there could be a new push to continue production of relocation, given the recent dangers to intellectual property described by US and UK intelligence agencies.”