III. Industry Analysis
As long as society depends on metal, there will always be a demand for machining, manufacturing, and welding services. These services are essential for several industries, including automotive, construction, and aerospace. Without expert machinists, many of these industries would suffer, which would severely impact the global economy.
The Global Machining Services Market is expected to grow by $18.07 billion at a CAGR of 4.67% over the next five years. There is no indication that the industry is slowing down, making this a great time to open a new machine shop.