Manufacturing News Roundup Q2
The State of Manufacturing
The State of Manufacturing1. Hyundai Completes Deal to Acquire Boston Dynamics
https://www.bostondynamics.com/hyundai-motor-group-completes-acquisition
Boston/Seoul/Tokyo, June 21, 2021 – Hyundai Motor Group completed their acquisition of a controlling interest in Boston Dynamics, a leader in advanced robotics. As a result of the deal, Hyundai becomes a significant player in robotics and, together with Boston Dynamics, plans to create a robotics value chain from robot component manufacturing to smart logistics solutions.
Congratulations to our customer Boston Dynamics, who will continue to play a leading role in advanced robotics and future technology solutions.
For more insight into Boston Dynamics and how they leveraged Rootstock Cloud ERP and Salesforce to digitally transform their company, watch this video chat:
How Robots Won The Digital Transformation Dance At Boston Dynamics.
2. 3D Printers With “Eyes and Brains” To Advance Manufacturing of Precision Medical Implants
An interdisciplinary study from bioengineers at Queensland University of Technology’s (QUT) Center in Transformative Biomimetics in Bioengineering, and Professor Paul Dalton from Oregon University, has outlined the benefits of integrating artificial intelligence (AI) and machine vision into 3D printers for the manufacture of customized medical implants.
Providing its melt electro writing (MEW) 3D printer with such “eyes and brains” that can essentially see and learn will, the team believes, enable custom-made tissue implants to suit the needs of individual patients. The AI and machine learning integrations will also aid the system’s ability to print heart valves and soft robotics.
3. Global Medical Device Contract Manufacturing Market Report 2021
Market to Reach $109.5 Billion by 2027 – U.S. Market is Estimated at $16 Billion, While China is Forecast to Grow at 12.1% CAGR – ResearchAndMarkets.com
https://finance.yahoo.com/news/global-medical-device-contract-manufacturing-141000708.html
DUBLIN, Jun 17, 2021–(BUSINESS WIRE)–The “Medical Device Contract Manufacturing – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
- Global Medical Device Contract Manufacturing Market to Reach $109.5 Billion by 2027
- The U.S. Market is Estimated at $16 Billion, While China is Forecast to Grow at 12.1% CAGR
- Class III Segment to Record 8.8% CAGR4
4. Automation And the American Manufacturing Renaissance
It is no secret that the manufacturing industry in the US has fallen behind over the last several decades, even though innovation in related technologies, including factory automation and robotics, are thriving in America’s universities and start-up community.
While some industries have embraced factory modernization, including the automotive and consumer electronics sectors, sourcing continues to favor countries where not only is the labor force less expensive, but the equipment and methods used in other countries has been proven to deliver higher quality products at lower costs.
It is time for the US to pivot from the mentality that automation and robotics is taking away jobs when, in fact, modernization along with education creates higher quality jobs and career opportunities when American factories can produce quality products at scale, leading to competitive pricing and healthy margins for the brands who bring products to market.
5. Researchers Get $13M to Create 5G Smart Warehouse
https://www.manufacturing.net/home/news/21354547/researchers-gets-13m-to-create-5g-smart-warehouse
May 2021. The Virginia Tech Applied Research Corporation, (VT-ARC) working with the Commonwealth Cyber Initiative (CCI), has won a $13 million Department of Defense contract to develop a 5G-enabled “smart warehouse” at the Marine Corps Logistics Base in Albany, Georgia.
Fast 5G wireless connectivity combined with internet of things sensor networks promises to change how warehouses move and track items to ensure they arrive at their intended destination in a timely manner. It is no easy task; the 5G communications architecture must be adept at navigating a noisy warehouse environment, be quick about it, and have a long battery life to boot.
The State of Manufacturing
1. U.S. Manufacturing Gains Steam; Raw Material, Labor Shortages Mounting
- ISM manufacturing index increases to 61.2 in May
- New orders measure rises, employment gauge declines
- Work backlogs increase, inventories very low
- Construction spending increases 0.2% in April
2. Manufacturing Jobs Rise with Boost from Motor Vehicles
Manufacturing employment rose in May, receiving a major boost from motor vehicles and parts where people returned to work after temporary layoffs.
Manufacturing jobs increased by 23,000, according to a breakdown by sector released today by the U.S. Bureau of Labor Statistics. Durable goods contributed a gain of 18,000 jobs.
The motor vehicles and parts sector had an increase of 24,800 in May. The category had an adjusted plunge of 37,700 jobs the month before. The auto industry is coping with a shortage of semiconductors, which caused production cutbacks and temporary layoffs.
3. New Report: 2021 State of North American Manufacturing
https://industrytoday.com/new-report-2021-state-of-north-american-manufacturing/
June 3, 2021. New York – Thomas, the leader in product sourcing, supplier selection, and marketing solutions for industry, today released its 2021 State of North American Manufacturing Annual Report sharing groundbreaking insights from its latest survey canvassing the North American manufacturing and industrial sectors. While the report reveals multiple shifts in domestic sourcing trends and supply chain demands, the key takeaway is the industry’s growing prioritization of reshoring in the aftermath of COVID-19 and the associated benefits of this shift for the U.S. economy.
According to the survey, 83% of North American manufacturers are likely or extremely likely to reshore (up from 54% in March 2020). If these manufacturers with plans to reshore bring on just one single-contract domestic supplier, the shift would drive as much as $443 billion in U.S. economic value.
4. Biden Administration Report Outlines Strategy to Invigorate Domestic Supply Chains
https://www.jdsupra.com/legalnews/biden-administration-report-outlines-7291186/
Highlights
- The Biden Administration on June 8, 2021, released findings from a 100-day interagency domestic supply chain assessment of critical products and outlined a series of steps it will take in order to strengthen U.S. critical supply chains and shore up domestic manufacturing, pursuant to Executive Order 14017 (E.O.).
- President Biden has pledged to invest in the U.S. domestic manufacturing capabilities and move the nation away from its reliance on adversaries – including China – for critical inputs.
- In addition to the 100-day review, the administration has also initiated year-long reviews of six broader sectors: defense, public health, information technology, transportation, energy and food production. Reports on those reviews will be delivered to the White House in February 2022.
5. ISM: 2021 US Manufacturing Revenue to Grow 7.2%
https://www.manufacturing.net/video/video/21451617/ism-2021-us-manufacturing-revenue-to-grow-72
May 21, 2021. The Institute for Supply Management, perhaps best known for its monthly manufacturing Purchasing Managers Index (PMI), is forecasting solid industry growth for 2021.
The firm shared key findings of its Spring 2021 Semiannual Economic Forecast on May 18, led by expected full-year revenue increase of 7.2% over 2020.
6. Reshoring Surges to Record High
https://www.manufacturing.net/home/video/21497362/reshoring-surges-to-record-high
The number of U.S. manufacturing jobs created by reshoring activities and foreign direct investment increased in 2020 – hitting a total of 160,649 – according to the Reshoring Initiative’s 2020 Data Report.
2020’s activity brings the total number of reshoring and FDI job announcements to over 1 million since 2010.
