"Advanced manufacturing improves existing or creates entirely new materials, products, and processes via the use of science, engineering, and information technologies; high-precision tools and methods; a high-performance workforce; and innovative business or organizational models."
This is the kind of manufacturing that leads to innova- tions—in materials, parts, products and processes—that enrich lives and improve the nation’s economic prosperity and security. It’s a world in which highly skilled scientists and engi- neers research, develop and invent—using virtual tools to
This is the new world of advanced manufacturing, and while there are general economic, regulatory and workforce challenges facing US manufacturing, as well as industry- specific hurdles, this is the new future that is budding as 2013 gets under way.
How fast this world reaches its potential depends in large part on the economic backdrop with which manufacturing’s fortunes typically rise and fall, as well as public and private investment.
The Economy We live in a hyperconnected global economy, and that is especially true in the world of manufacturing.
Overall, the recovery from the Great Reces- sion has been slow and steady around the world. But the improve- ments have been un- even, and there is great debate, globally, among mature economic countries about the best course of policy action to take in dealing with legacy costs and debt. Europe, where this de- bate has loomed large over the many interde- pendent euro-countries, has been particularly slow to recover.
Despite these types of challenges, the outlook
improve quality and save time and money. It’s a world in which manufacturers produce in clean, efficient ways where there is little to no waste of people or resources, be it materi- als or energy. High-tech, multitasking machines produce parts with the best method possible, be it subtractive, addi- tive or both. Smart robots do the repetitive tasks no longer required of humans. It’s a world of round-the-clock, lights- out operations controlled by smart, educated leaders who manage their enterprise through a software cloud and other technologies that integrate and analyze operations around the world.
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ManufacturingEngineeringMedia.com | April 2013
for the year is positive. Chad Moutray, chief economist of the National Association of Manufacturers (NAM), wrote in Manu- facturing Engineering that “the longer-term prognosis for the manufacturing sector remains strong.”
In the most recent “PwC Manufacturing Barometer” report, PwC reported that industrial manufacturing execu- tives it surveyed raised their company’s 12-month revenue growth forecasts by a half-point, to 5.2% from 4.6%, as optimism about the US economy’s prospects increased to 48% from 37%. In fact, 83% expect positive revenue growth, with only 3% forecasting negative growth. Addition-
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