Precision Engineering in the UK - Industry Market Research Report

Going down: Ongoing supply chain disruption is hindering revenue growth in 2022-23

Precision engineers produce complex parts and components to high tolerances for machinery and equipment used in a broad range of downstream markets spanning the industrial sector, as well as automotive and aerospace industries. Precision engineers are exposed to trends in business investment, with recent economic uncertainty weighing on the propensity of downstream businesses to invest in machinery and equipment that requires precision engineered parts. Cost-cutting measures by downstream companies has helped to boost demand through investment in more cost-efficient equipment and machinery with light-weight components, while repair and maintenance work provides a consistent source of revenue. Operators in the Precision Engineering industry focus on the production, maintenance and refurbishment of bespoke equipment and machinery to specific instructions. This can include electrical engineering, software engineering, electronics engineering, mechanical engineering, and optical engineering. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.