Manufacturing is evolving. The industry once synonymous with long hours, assembly lines in dark and filthy plants, low wages, and antiquated processes have turned into one of the most lucrative business types for the future not only of the United States but of the global economy. You cannot go a day without hearing how tariffs, the government, the workforce, or even military relations are affected by manufacturing, and vice versa. The resurgence of innovation is everywhere — and is just getting started.
Today’s plant floor looks very different than the floor used to just ten years ago. With technology such as automation, IIoT, blockchain, and 3D printing, today’s manufacturing companies look more like something out of “The Jetsons” than Detroit. In fact, emerging technology is transforming not only the way we communicate and conduct business but also the way we make products that make things move. Focusing on automation alone, Deloitte’s “Exponential Technologies in Manufacturing” study explains that advanced robotics spending is predicted to grow from $92B in 2016 to $225B in 2021. And that is just one piece of the technology puzzle — currently, hundreds of billions of dollars are being spent in an effort to update factories and streamline production.
So what does this mean for you? As a manufacturer, especially in the power transmission sector, you are most likely considering ways to incorporate the latest technology into your company. Maybe you have attended a new trade show or conference that displayed the newest machines. You might have talked to your operations team about implementing software to collect real-time data from your plant floor. Or perhaps you have already implemented a robotics cell to see how your engineers will work with cobots to speed up production and quality control.
The hard truth is that mergers and acquisitions are happening at an alarming rate. According to a recent Forbes article, 2019 has the second-highest global value for M&A activity, with $2.72 trillion across 13,575 deals. These numbers, combined with the fact that the majority of executives attribute expanding customer bases in existing markets as a leading factor for mergers, make it difficult for smaller and mid-sized companies to stay competitive. Given that your end-user has expanded, modernizing your company with new technology might be the only way to keep current with changing markets and new demands.
With a global supply chain and steep competition, it is imperative that you stay on top of manufacturing trends and technology. Visiting international trade shows such as the inaugural Motion + Power Technology Expo (MPT Expo) gives you access to real technical experts, business executives, emerging technology, and education — not to mention the entire power transmission industry all under one roof. A show like MPT Expo will better prepare you for what the future holds and is a cost-effective way to learn before you invest.
At MPT Expo, attendees will be able to view the full spectrum of drive technology from hundreds of industry leaders like Timken Power Systems, Meritor, Inc., EMAG LLC, Gleason Corporation, Mitsubishi Heavy Industry America. Mechanical, electric and fluid power professionals will have access to a full range of solutions that include: machine tools, electric motor manufacturers and hydraulic products. End-users can shop the latest technology while meeting with the right people all in one place.
Want to learn about supply chain management and IIoT for software implementation on your plant floor? MPT Expo has education available to all levels of your company. From half-day and full-day education to the brand new two-track (emerging technology and business intelligence) conference, you will find what you need to succeed in 3D printing, Blockchain, workforce development, economic forecasts and much more. And don’t forget to bring your engineers, as the AGMA Fall Technical Meeting gathers experts from all over the world to present the latest research in gearing technology and manufacturing.
Invest in your business’ future, invest in your knowledge and growth and invest in your industry at the 2019 MPT Expo this October 15-17 at the Cobo Center in Detroit, MI.
Click HERE to register.
About The American Gear Manufacturers Association
The American Gear Manufacturers Association is a voluntary association of companies, consultants, and academicians with a direct interest in the design, manufacture, and application of gears, couplings and related power transmission components and equipment.
Founded in 1916, AGMA is a member- and market-driven organization, conducting programs and providing services to the gear industry and its customers. AGMA member companies currently number more than 495. They include gear manufacturers from the United States, Mexico, and Canada, as well as gearing interests from more than 30 countries around the world.
AGMA is accredited by the American National Standards Institute to write all U.S. standards on gearing. AGMA is also the Secretariat (Chairman) for Technical Committee 60 of the International Organization for Standardization (ISO). TC 60 is the committee responsible for developing all international gearing standards. In addition to the holding the position of Secretariat, AGMA convenes (chairs) the active ISO Working Groups related to gear inspection and testing.
The association is managed by a Board of Directors and Executive Committee Officers and Executive Committee Officers. Members also serve on Business Management Committees and Technical Committees. A full-time staff of 12 association professionals is headquartered in Alexandria, Va.
As in its beginnings, AGMA continues to literally set the standard. Its open standards development process is tailored to the global marketplace.
But AGMA also offers much more. You are invited to look through our website to learn about AGMA’s many events and training opportunities, publications, industry news, products and much more.
AGMA: Technology Driven. Globally Connected.