Financing Makes $ense

       Orders of Manufacturing Tech Hit Nearly $6 Billion in 2021: The Highest  on Record

Last year was a banner year for sellers of manufacturing technology. According to a February 14 report from the Association for Manufacturing Technology, technology orders from manufacturers broke $5.9 billion last year, the highest  on record.

According to AMT, the latter half of the year in particular saw orders increase dramatically. From August through December 2021, the association reported, a streak of orders broke $500 million each month, the first such five-month streak on the agency’s records.

In total, the $5.9 billion spent on manufacturing technology in 2021 was more $2 billion more than in 2020. AMT reports the $5.9 billion in 2021 orders beat 2020’s $3.8 billion total by 55%.

Association for Manufacturing Technology President Douglas Woods remarked, “After five straight months of historically high orders, it is difficult to describe 2021 as anything other than exceptional,” said

Woods went on to note that much of the growth in orders came from areas that “were not typically industry drivers,” including construction. AMT reports manufacturers saw “outsized demand” for grinding machines used to produce drill bits and other construction tools to meet demand in last year’s housing market.

Source: Industryweek.com