SIC 3545 Cutting Tools, Machine Tool Accessories, and Machinist's Precision Measuring Devices

Encyclopedia of American Industries | 2005 | Copyright

SIC 3545
CUTTING TOOLS, MACHINE TOOL ACCESSORIES, AND MACHINIST'S PRECISION MEASURING DEVICES

This category covers establishments primarily engaged in manufacturing cutting tools, machinists' precision measuring tools, and attachments and accessories for machine tools and for other metalworking machinery, not elsewhere classified. Establishments primarily engaged in manufacturing hand tools, except power-driven types, are classified in the cutlery, hand tools, and general hardware industries.

NAICS Code(s)

333515 (Cutting Tool and Machine Tool Accessory Manufacturing)

332212 (Hand and Edge Tool Manufacturing)

333991 (Power-Driven Hand Tool Manufacturing)

Industry Snapshot

In the late 1990s, a total of 2,096 establishments operated in the industry. In 2000, hand and edge tool manufacturers shipped $7.6 billion worth of goods in 2000, while cutting tool and machine tool accessory manufacturers shipped $5.6 billion worth of goods.

The cutting tools, machine tool accessories, and precision measuring devices industry is facing transition. Increased global competition in all aspects of manufacturing has created demand for better, longer lasting tools and accessories. Extensive development of tougher cutting tool materials and coatings has been the driving force of change in this industry, along with improved cutting tool design that lends extended performance. Increased emphasis on quality control is affecting the measuring device segment through demand for electronic gauges that link to statistical process control software packages. Modular tooling designs have affected the accessories segment.

Ironically, while this industry has paced itself to match industry demand for productivity improvements, it also has met with its own problems. The influx of foreign competitors to this market has been staggering, forcing cutting tool and measuring device manufacturers to look introspectively at their own operations. Process improvements and increased...

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