METALWORKING EQUIPMENT/MACHINE TOOLS
Global Market ($ million): N/A
U.S. Industry Revenue ($ million): $28,000
U.S. Exports ($ million): $6,600
U.S. Imports ($ million): $13,650
Top 5 U.S. Companies
MAG Industrial Automation Systems
Top 5 Foreign Companies
Yamazaki Mazak (Japan)
Top International Markets
Top 5 International Issues
Export controls and licensing procedures
Rising production costs
Shifting manufacturing to low cost countries (particularly Asia:China/India)
Increased competition from Asian imports
Top 3 Domestic Competitiveness Issues
Credit Availability: Tightening of the credit markets making it more difficult for manufacturers to obtain financing.
Decline of the Big 3 automakers: the automobile industry accounted for the lion’s share of the metalworking equipment industry.
Taxes and the Economy: Lower the tax burden for U.S. manufacturers and increase R&D tax credits and programs.