It’s been some odd times the past 3 years, so as we enter 2023, the editors from GIE Media’s Manufacturing Group sit down for a roundtable to discuss the current market and what to expect in 2023 and beyond.
The global medical devices market was valued at $550 billion in 2021 and is expected to reach $850 billion by 2030, showing 5.5% compound annual growth rate during the forecast period. Learn what sectors will shine and which will hold steady.
Global automakers are projected to spend more than $515 billion by 2030 to develop and build electric vehicles (EVs). In the US alone, 13 carmakers have announced plans to spend more than $75 billion to open EV manufacturing plants in 6 states. By 2025, more than 100 EV models are expected to be on the market and available to U.S. customers. But there’s more to EV than cars and trucks – think drones, planes, bikes, and boats.
Aerospace manufacturing has rebounded, driven by passenger demand for air travel reaching pre-pandemic levels and airlines betting that demand will continue. Aircraft production has lagged, however, as the original equipment manufacturers scramble to overcome supply chain challenges and the ever-present skilled worker shortage. Should we expect a bumpy ride ahead or clear skies? Where can suppliers optimize to be more competitive? We’ll try to answer those questions and more during this industry outlook.