Key Trends Reshaping the Precision Turned Product Manufacturing Market: Introducing Advanced Solutions In Precision Turned Product Manufacturing Industry Transformation

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Precision Turned Product Manufacturing Market Size Growth Forecast: What to Expect by 2025?
The market size for precision turned product manufacturing has experienced robust growth in the past few years. The market, which was worth $102.97 billion in 2024, is anticipated to rise to $108.6 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.5%. This growth during the historic period is primarily due to the rising demand for high-precision components, globalisation and outsourcing, material innovation, and a focus on cost efficiency.

How Will the Precision Turned Product Manufacturing Market Size Evolve and Grow by 2029?
The market size for precision turned product manufacturing is predicted to exhibit robust expansion in the coming years. The market valuation is expected to reach $136.39 billion in 2029, registering a CAGR of 5.9%. The boom during the predicted period can be credited to factors like the need for sustainable manufacturing, quick prototyping, additive manufacturing, robustness of the supply chain, regulatory adherence, and industry norms. Key trends expected during the predicted period encompass digital transition, integration of additive manufacturing, customization and personalization, and localization and reshoring.

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What Drivers Are Propelling the Growth of Precision Turned Product Manufacturing Market Forward?
The escalating aerospace industry is projected to stimulate the expansion of the precision-turned product manufacturing market in the future. This industry encompasses all activities related to designing, manufacturing, and maintaining aircraft, spacecraft, and their associated systems. The sector is witnessing growth due to enhanced global investment in military aircraft and defense systems, which is a response to improve national security and address looming threats. The utilization of precision-turned products in manufacturing contributes to the production of superior components with strict specifications, which are fundamental for safety and performance in aerospace systems. These precision-turned products elevate the overall efficiency and functionality capabilities of aerospace systems, offering smoother operation, fuel efficiency, and reduction in maintenance demands. For example, in November 2022, a report from the Aerospace Industries Association, a trade association based in the US, revealed that the aerospace industry's revenue in 2021 had risen by 2.1% to $892 billion. Additionally, the exports of aerospace and defense increased by 11.2% to $100.4 billion during 2020 and 2021. As such, the burgeoning aerospace industry propels the growth of the precision-turned product manufacturing market.

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What Trends Will Shape the Precision Turned Product Manufacturing Market Through 2029 and Beyond?
Leading players in the precision turned product manufacturing market are innovating advanced tools like a 2-axis vertical turning lathe, or vertical turret lathe (VTL), to deliver unmatched precision and standardized machining solutions. This machine tool is used for cylindrical workpiece machining. For example, WIDMA Machining Solutions, an Indian metalworking tools manufacturer, in November 2023, introduced the VT850, a precision machining tool designed for large workpiece operations such as turning, drilling, and threading. This VT850 tool, reinforced with heavily ribbed FEA-optimized structures fabricated from FG300 cast iron, boosts rigidity and controls vibration during operation. This invention is aimed to expand the firm's standard product line, expedite customer service, and guarantee reliable performance. Exemplary aspects of the VT850 tool comprise a double row cylindrical roller bearing, which enhances the spindle's stiffness and rigidity.

What Are the Key Segments in the Precision Turned Product Manufacturing Market?
The precision turned product manufacturingmarket 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 Key Players Shaping the Precision Turned Product Manufacturing Market's Competitive Landscape?
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.

What Geographic Markets Are Powering Growth in the Precision Turned Product Manufacturing Market?
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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