Precision engineering machines driving innovation in advanced manufacturing

By OEM Update Editorial December 1, 2023 12:32 pm IST

Precision engineering machines are vital in multiple industries, ensuring accuracy and precision in manufacturing intricate components. Their integration of advanced technologies drives innovation across sectors like automotive, aerospace, electronics, and medical equipment.

Precision engineering machines find applications across aerospace, automotive, electronics, and medical equipment industries. They are pivotal in producing intricate automotive components, including engine parts, transmission systems, chassis components, and electronic systems, ensuring high precision and accuracy.

Integrating advanced technologies like CNC systems, sensors, and high-precision actuators, these machines deliver exceptional accuracy and consistency. Their functions encompass milling, turning, grinding, and drilling with precise measurements at the micron level, enabling the creation of intricate components with stringent tolerances. Engineered to mitigate vibrations and thermal effects, these machines push the boundaries of manufacturing capabilities. They contribute significantly to technological advancement and innovation by facilitating the manufacturing vital intricate parts across diverse industries. According to a research report published by Spherical Insights & Consulting, the Global Precision Engineering Machines market size is to Grow from USD 12.50 Billion in 2022 to USD 23.24 Billion by 2032, at a CAGR of 6.4 percent during the forecast period.

CNC machine tools and EDM machine tools segment
The global precision engineering machines market is segmented into CNC machine tools, EDM machine tools, and others, projected to grow at 6.5 percent CAGR. The precision engineering machines market’s CNC and EDM machine tools segments, are expected to grow substantially. The CNC machine tools offer advanced automation, precision, and versatility in manufacturing processes, driving their demand across industries. Similarly, EDM machine tools provide high precision and the ability to work with difficult-to-machine materials, making them essential for aerospace and medical equipment industries. The growing emphasis on automation, technological advancements, and increasing demand for precision components drive the growth of CNC and EDM machine tools in the market.

Automotive segment growth
The global precision engineering machines market is segmented into automotive and non-automotive based on end-use. During the forecast period, the automotive segment is expected to grow significantly at a CAGR of 6.2 percent in the precision engineering machines market. The automotive industry constantly evolves, with increasing demands for lightweight and fuel-efficient vehicles.

The advancements in electric vehicle technology and autonomous driving systems drive the need for advanced precision engineering machines to produce intricate and precise components required for these emerging automotive technologies. Moreover, the automotive sector’s focus on automation, process optimization, and cost efficiency drives the adoption of precision engineering machines to improve manufacturing productivity and quality in the automotive industry.

Market players include Amada Machine Tools Co., Ltd., Amera-Seiki, DATRON AG, Dalian Machine Tool Group (DMTG) Corporation, DMG Mori Co., Ltd., FANUC Corporation, Haas Automation, Inc., Hurco Companies, Inc., Okuma Corporation, Shenyang Machine Tool Co., Ltd., Yamazaki Mazak Corporation and more other key Vendors.