The technical term for this industry is NAICS 332721: Precision Machining: “This U.S industry comprises establishments known as precision turned manufacturers primarily engaged in creating precision machined parts of all materials on a job or order basis. Generally, precision turned product jobs are large-volume using machines such as automatic screw machines, rotary transfer machines, computer numerically controlled (CNC) lathes or turning centers.”
When it comes to the Precision Machining industry, the Precision-Machined Products Association leads the way by providing resources, information, and networking opportunities for the companies within it.
The technology listed above should also include the addition of water jet and laser machines in production shops as those are starting to gain popularity with some manufacturers, as well as CNC mills, machining centers and Swiss-type machines.
While some shops have their own product lines, other shops also known as “job shops” produce precision machined parts for other manufacturers.
These precision machined parts can end up in such products such as appliances, home electronics, HVAC, and other more modern products.
The markets where precision machined parts end up are as follows:
- Fluid Power
- Heavy Trucks
- Electronic connectors and components
The Precision Machining category of manufacturing also consists of another subcategory under NAICS 3327: Machine shops, creates fabricated metals, turned product, screw, nut and bolt manufacturing.
The Precision Machining industry can create value added for the customer as well. They are able to subtract material from raw bar stock in order to produce the finished precision machined parts with less mass to meet the customer’s design. The savings to the customer totaled over $8 billion last year alone.
This means that if you’re a company in need of large quantities of high-quality precision machined parts, on time and to your exact specifications, a precision machined parts company can serve your needs.