There’s a universal fact that all American manufacturers can celebrate: in recent years, the industry has made an incredible comeback. Reshoring steadily continues, while manufacturers of all sizes are making the decision to start from scratch on American soil. Productivity and innovation are at record highs, and the industry is significantly competitive.
However, there’s one factor that could decelerate this competitiveness. As recently reported in this Wall Street Journal article , the majority of American manufacturers are not investing in new equipment.
Calling the spending “anemic by historical standards,” the article points out that the average age of domestic manufacturers’ industrial equipment has risen to over 10 years, “the highest since 1938,” and in 2013, capital spending grew by only 3%—“far below” the long-term average of over 8%.
As a result, while we’re all working to remain competitive and surpass foreign competitors, while drawing business to our shores, the lack of new equipment could send customers back overseas. The decision to not invest in new equipment could, according to the aforementioned article, “hobble efforts by U.S. firms to compete more effectively with foreign rivals in the years ahead.”
Of course it’s easier said than done, and investing in equipment in a major expense, but in the simplest terms, it takes money to make money. If we want to keep the momentum going, we must spend now to reap the benefits in the future.
At Astro Machine Works, we understand the needs and limitations of manufacturers. We know that everyone is working hard to remain cost-effective and keep the bottom line low. We also know that you need the highest quality equipment in order to produce your products and keep your customers satisfied.
We’re confident that we can and do offer the right balance for these needs, building state-of-the-art custom machinery that is cost-effective and will last for many years. In this way, your new equipment serves all of your needs and is the absolute best of its kind, and you’re ensured longevity. Once you make the decision to acquire new, custom-made machines, you won’t have to invest in it again for a long time.
We handle every single phase of custom machine building, from initial design through secondary processes, testing, and shipping, all overseen by a dedicated project manager and a team of highly skilled machinists, welders, and electricians. In the end, you have parts and equipment made to your exact specifications that will keep you operating at the highest level of quality, while staying highly competitive.
The industry has come so far in recent years, and no one wants to see the recovery reverse as a result of aging, outdated, subpar equipment.