Press release
Primary Catalyst Driving Precision Turned Product Manufacturing Market Evolution in 2025: Impact Of Growing Aerospace Industry On The Precision Turned Product Manufacturing Market Driver
Precision Turned Product Manufacturing Market
The expansion of the aerospace sector is anticipated to catalyze the development of the precision-turned product manufacturing market. This industry encompasses the processes of designing, manufacturing, and maintaining aircraft, spacecraft, and associated systems. The escalating worldwide investments in military aircraft and defense mechanisms to strengthen national security and counter emerging threats are accelerating the growth of the aerospace sector. The precision-turned product manufacturing is pivotal in crafting superior components within strict tolerances, crucial for the safety and performance of aerospace systems. These precision-turned products enhance the overall efficiency and functionality of aerospace systems contributing to its smoother functioning, greater fuel efficiency, and reduced maintenance requirements. For example, the Aerospace Industries Association, a trade organization based in the US, reported in November 2022 that the aerospace sector's revenue in 2021 saw an increment of 2.1% to $892 billion. Moreover, aerospace and defense exports observed an impressive growth of 11.2% reaching $100.4 billion between 2020 and 2021. Thus, this expansion of the aerospace industry is fueling the growth of the precision-turned product manufacturing market.
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What is the future CAGR of the precision turned product manufacturing market, and how will it impact industry expansion?
The market size of precision turned product manufacturing has significantly increased in the past few years. A rise from $102.97 billion in 2024 to $110.33 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%, is forecasted for this market. Factors such as increased demand for high-precision components, globalization and outsourcing, material innovation, and a focus on cost efficiency have contributed to this historical growth.
The market for precision turned product manufacturing is anticipated to witness significant growth in the forthcoming years, swelling to $143.26 billion by 2029 with a compound annual growth rate (CAGR) of 6.7%. This improvised growth during the forecast period can be accredited to factors like the surge in demand for sustainable manufacturing, swift prototyping, additive manufacturing, supply chain robustness, adherence to regulations and industry norms. Key trends that are set to shape the forecast period encompass digital revolution, incorporation of additive manufacturing, customisation and individualisation, and the focus on reshoring and localisation.
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What are the most significant trends transforming the precision turned product manufacturing market today?
Leading firms in the precision turned product manufacturing industry are creating innovative solutions such as a 2-axis vertical turning lathe to guarantee supreme machining standards and unprecedented precision. The 2-axis vertical turning lathe, also known as a vertical turret lathe (VTL), is a kind of machine tool utilized for machining cylindrical pieces. As an example, WIDMA Machining Solutions, an enterprise based in India specializing in metalworking tools, debuted their VT850 vertical turning lathe in November 2023. This precision tool is used for various operations like turning, drilling, and threading on sizeable workpieces. The VT850 is built with heavily ribbed FEA (Finite Element Analysis)-optimized structures made out of FG300 cast iron, which increases rigidity and suppresses vibration during operations. This tool was engineered to augment the firm's standard product line, quicken turnaround time for clients, and guarantee consistent functioning. Moreover, the VT850 stands out due to its double row cylindrical roller bearing, which improves the spindle's stiffness and rigidity.
Which key market segments comprise the precision turned product manufacturing market and drive its revenue growth?
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
Subsegments:
1) By Automatic Screw Machines: Single-Spindle Automatic Screw Machines, Multi-Spindle Automatic Screw Machines
2) By Rotary Transfer Machines: Horizontal Rotary Transfer Machines, Vertical Rotary Transfer Machines
3) By Computer Numerically Controlled (CNC): CNC Lathes, CNC Milling Machines, CNC Grinding Machines
4) By Lathes Or Turning Centers: Horizontal Turning Centers, Vertical Turning Centers
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What regions are at the forefront of precision turned product manufacturing market expansion?
North America was the largest region in the precision turned product manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the precision turned product manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the precision turned product manufacturing market?
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.
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What Is Covered In The Precision Turned Product Manufacturing Global Market Report?
•Market Size Forecast: Examine the precision turned product manufacturing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the precision turned product manufacturing market for a structured understanding.
•Key Players Overview: Analyze major players in the precision turned product manufacturing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the precision turned product manufacturing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the precision turned product manufacturing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the precision turned product manufacturing market.
•Industry Challenges: Identify potential risks and obstacles affecting the precision turned product manufacturing market.
•Competitive Landscape: Review strategic developments in the precision turned product manufacturing market, including expansions, agreements, and new product launches.
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