Importance of manufacturing

Perspectives

Manufacturing: The foundation for America’s success

A closer look at the impact of manufacturing on today’s economy

​This infographic illustrates the importance of manufacturing in our current economy and highlights key attributes in positioning the industry and nation for success. Find out how the industry’s advancing technology and constant innovation plays an integral role in enhancing economic prosperity.

Key themes driving trends in the US manufacturing sector

Through our research, interaction with clients, and experience in the field, we are seeing that the US manufacturing sector is experiencing unprecedented growth.

Key themes include:

  • Technology: Investments in technology are driving research and development, but open the door to the risk of cyber breaches.
  • Economy: Americans believe that manufacturing is very important to America’s economy prosperity and standard of living.
  • Global competitiveness: Strengths of the US manufacturing sector will likely lead to a competitive advantage over other countries.
  • Talent: Innovative advances in manufacturing will require higher technical skills, creativity, and problem solving. As the US manufacturing sector grows and the demand for higher skilled jobs increases, however, companies’ are struggling to attract and retain top talent.

Explore our infographic to find out how high-performing manufacturers can outperform their peers and which factors are impacting the talent shortage.

Manufacturing fuels the US economy by creating jobs and driving advancements in technology

For every $1.00 spent in manufacturing, another $1.81 is added to the economy—the highest multiplier effect of any economic sector.¹

Americans value a strong manufacturing sector³

About 8 in 10 Americans believe that future manufacturing jobs will be more innovative. Innovation requires higher technical skills, creativity, and problem solving capabilities while being more clean and safe due to automation and reduced manual labor. Innovation requires higher technical skills, creativity, and problem solving capabilities while being more clean and safe due to automation and reduced manual labor.

 

Machine

Top 12 drivers of global competitiveness⁴

1. Talent 7. Physical infrastructure
2. Cost competitiveness
8. Economic, trade, financial, and tax system
3. Workforce productivity
9. Innovation policy and infrastructure
4. Supplier network
10. Energy policy
5. Legal and regulatory system 11. Local market attractiveness
6. Education infrastructure 12. Healthcare system

The top five manufacturing competitive nations (by 2020) are:

  1. United States
  2. China
  3. Germany
  4. Japan
  5. India

High-performing manufacturers outperform their peers by focusing on four areas⁵

Excellent research talent and infrastructure, top-notch tech firms, dedicated industrial clusters, and strong VC investments are important to a strong manufacturing innovation ecosystem.²

US manufacturers face significant talent challenges given the widening skills gap⁶

Leading factors include:

  • The retirement of baby boomers
  • The strength of the economy
  • The attractiveness of the industry

As the digital and the physical worlds converge, the risk of a cyber breach increases

Cyber manufacturing
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