Precision Turned Product Manufacturing Global Market Size, Share, Future Trends, Comprehensive Analysis, Opportunity Assessment By 2033

"The new report published by The Business Research Company, titled ""Precision Turned Product Manufacturing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the precision turned product manufacturing market size has grown strongly in recent years. It will grow from $96.51 billion in 2023 to $102.97 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The precision turned product manufacturing market size is expected to see strong growth in the next few years. It will grow to $134.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.

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Impact Of Growing Aerospace Industry On The Precision Turned Product Manufacturing Market
The growing aerospace industry is expected to propel the growth of the precision-turned product manufacturing market going forward. The aerospace industry refers to the sector involved in the design, manufacturing, and maintenance of aircraft, spacecraft, and related systems. The aerospace industry is experiencing growth due to increasing global investments in military aircraft and defense systems to enhance national security and respond to evolving threats. Precision-turned product manufacturing is used to produce high-quality components with tight tolerances essential for safety and performance in aerospace systems. Precision-turned products improve aerospace systems' overall efficiency and functionality, enabling smoother operation, fuel efficiency, and decreased maintenance requirements. For instance, in November 2022, according to a report published by the Aerospace Industries Association, a US-based trade association, aerospace industry revenue in 2021 grew by 2.1% to $892 billion, while aerospace and defense exports increased by 11.2% to $100.4 billion between 2020 and 2021. Therefore, the growing aerospace industry is driving the growth of the precision turned product manufacturing market.

Introducing Advanced Solutions In Precision Turned Product Manufacturing
Major companies operating in the precision turned product manufacturing market are developing advanced solutions, such as a 2-axis vertical turning lathe, to provide a standard solution for machining and unmatched accuracy. A 2-axis vertical turning lathe, also known as a vertical turret lathe (VTL), is a type of machine tool used for the machining of cylindrical workpieces. For instance, in November 2023, WIDMA Machining Solutions, an India-based manufacturer of metalworking tools, launched the VT850 vertical turning lathe, a precision machining tool used for turning, drilling, and threading operations on large workpieces. The VT850 features heavily ribbed FEA (Finite Element Analysis)-optimized structures made of FG300 cast iron, enhancing rigidity and vibration dampening during operations. This tool is designed to enhance the company's standard product portfolio, improve turnaround time for customers, and ensure consistent performance. Additionally, key features of the VT850 include a double row cylindrical roller bearing, enhancing the spindle's stiffness and rigidity.

The precision turned product manufacturing market covered in this report is segmented -
1) By Type: Automatic Screw Machines, Rotary Transfer Machines, Computer Numerically Controlled (CNC), Lathes Or Turning Centers
2) By Operation: Manual Operation, CNC Operation
3) By End User: Automobile, Electronics, Defense, Healthcare

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Major companies operating in the precision turned product manufacturing market are Stanley Black & Decker Inc., Parker Hannifin Corporation, Doosan Corporation, Sandvik AB, NSK Ltd., FANUC Corporation, Moog Inc., DMG MORI Co. Ltd., Kennametal Inc., Barnes Group Inc., Gleason Corporation, Haas Automation Inc., Tsugami Corporation, Hardinge Inc., Tompkins Products Inc., Hurco Companies Inc., Tornos Holding AG, Creed Monarch, Greystone of Lincoln, Brother Industries Ltd., Mahr GmbH, Alpha Grainger Mfg, Herker Industries, Hydromat Inc., Swiss Precision Machining Inc.

Contents of the report:
1. Executive Summary
2. Precision Turned Product Manufacturing Market Report Structure
3. Precision Turned Product Manufacturing Market Trends And Strategies
4. Precision Turned Product Manufacturing Market - Macro Economic Scenario
5. Precision Turned Product Manufacturing Market Size And Growth
…..
27. Precision Turned Product Manufacturing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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