Impact Of Growing Aerospace Industry On The Precision Turned Product Manufacturing Market Driving Market Acceleration in the Precision Turned Product Manufacturing Industry, 2025

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How Large Will the Precision Turned Product Manufacturing Market Size By 2025?
In recent times, the market size of precision turned product manufacturing has seen a robust growth. It's expected to expand from $102.97 billion in 2024 to $110.33 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.1%. The historical growth can be linked to factors such as the higher demand for accurate components, globalization and outsourcing, advancements in materials, and a strong focus on cost efficiency.

How Big Is the Precision Turned Product Manufacturing Market Size Expected to Grow by 2029?
In the coming years, the market size of precision turned product manufacturing is predicted to experience robust growth, reaching a valuation of $143.26 billion in 2029 with a 6.7% Compound Annual Growth Rate (CAGR). This growth during the forecast period is likely due to factors such as increasing demands for sustainable manufacturing, regulatory compliance, industry standards, swift prototyping, additive manufacturing, and supply chain resilience. Key trends expected during the forecasted period comprise digital transformation, integration of additive manufacturing, customization and personalization, as well as reshoring and localization.

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Which Key Market Drivers Powering Precision Turned Product Manufacturing Market Expansion and Growth?
The expansion of the precision-turned product manufacturing market is predicted to be fueled by the burgeoning aerospace industry. This industry encompasses the creation, upkeep, and design of spacecraft, aircraft, and associated systems. The aerospace sector is seeing a surge due to an increase in global investment in defense systems and military aircraft to improve national security and adapt to changing threats. Precision-turned product manufacturing comes into play in the creation of exceptional components with strict tolerances that are critical for safety and performance in aerospace systems. These precision-turned products enhance the efficiency and functionality of aerospace systems, resulting in smoother operation, fuel efficiency, and reduced maintenance needs. To illustrate, the Aerospace Industries Association, a trade association based in the US, released a report in November 2022 indicating that aerospace industry income in 2021 rose by 2.1% to $892 billion. Similarly, aerospace and defense exports saw an increase of 11.2% to $100.4 billion between 2020 and 2021. Consequently, the upward trend in the aerospace industry is stimulating the expansion of the precision turned product manufacturing market.

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Which Fast-Growing Trends Are Poised to Disrupt the Precision Turned Product Manufacturing Market?
Prominent corporations within the precision turned product manufacturing industry are innovating and creating advanced solutions like the 2-axis vertical turning lathe. This tool offers an unmatched standard in terms of machining and accuracy. It is also referred to as a vertical turret lathe (VTL) and is predominantly used for machining cylindrical workpieces. For example, in November 2023, WIDMA Machining Solutions, which is based in India and specializes in the manufacture of metalworking tools, introduced the VT850 vertical turning lathe. This precision tool is ideal for performing turning, drilling, and threading operations on larger workpieces. It features FEA (Finite Element Analysis)-optimized heavily ribbed structures composed of FG300 cast iron which significantly enhance rigidity and minimize vibration during operation. Its development was aimed at expanding the company's standard product range, reducing customer turnaround times, and maintaining consistent performance. The VT850 comes with a unique feature in the form of a double row cylindrical roller bearing, which greatly improves the stiffness and rigidity of the spindle.

What Are the Emerging Segments in the Precision Turned Product Manufacturing Market?
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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Who Are the Global Leaders 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.

Which are the Top Profitable Regional Markets for the Precision Turned Product Manufacturing Industry?
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.

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