While striving to finish 2017 on a strong note, industrial manufacturers already are looking forward to 2018 — and feeling pretty good about it. In a survey conducted by Intellitek Systems, 60 percent of manufacturers expressed optimism about the U.S. economy’s prospects during the next 12 months. Falling by more than 20 percent during the Great Recession, manufacturing output is now above its pre-recession peak. Moderate revenue growth is expected in the United States during 2018.
Among sectors where growth is expected in the next 12 months are aerospace and defense, nuclear, medical, and oil exploration.
Rising geopolitical tensions, terrorism and civil wars have given a boost to defense contractors, which, in turn, benefit the aerospace and defense industry. Gains are anticipated for aerospace manufacturers, specifically, thanks to a growing international market for weapons — developing nations expanding their defense spending — and the rise of new warfare technologies. The defense industry stands to gain from a sizable increase in the U.S. defense budget under President Donald Trump and rising spending by other major powers.
Nuclear power capacity is increasing steadily, with about 50 reactors under construction in 13 countries. Plant upgrades are significantly boosting capacity, and plant lifetime extension programs are maintaining capacity, particularly in the United States.
Strong growth is projected to continue in the medical industry amid demand for more advanced and personalized treatment; an increased availability of health care; and an aging population.
U.S. oil output is expected to reach a record high in 2018 as oil and gas companies employ better drilling methods and focus on their best wells to operate in a tough price environment.
Connectronics Corp., founded in 1988, is a designer and manufacturer of specialized connectors and interconnection systems for a variety of industries. Our management staff has more than 300 years of combined connector and interconnects experience in fields such as avionics, analytical instruments, aerospace, medical, nuclear, underwater, radar, oil exploration, and stage lighting.