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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. heavy manufacturing sector supplies the nuts and bolts--quite literally--for some of the fastest-growing corners of the economy. These include the construction and aerospace markets, where the pressure is on to keep industry players supplied with the most in-demand machinery and equipment. Industrial Info is tracking more than 270 maintenance-related projects in the U.S. heavy manufacturing sector that are set to begin in first-quarter 2024, more than 100 of which are attributed to the production of machinery and equipment for the construction, transportation, farming and other industrial sectors.
Click on the image at right for a graph detailing the top 10 standard industrial classifications (SICs) for maintenance-related U.S. heavy manufacturing projects set to kick off from January through March, by total investment value.
Parker-Hannifin Corporation (NYSE:PH) (Cleveland, Ohio) accounts for about $5 million of maintenance-related investment set to begin work in the first quarter, more than any other single company. Parker-Hannifin, which specializes in motion and control technologies for the transportation, aerospace and industrial markets, is preparing for full-year maintenance programs at three facilities that service the aircraft industry: a fuel-nozzle and tank-system manufacturing plant in Clyde, New York; a sheet metal fabrication plant in Airway Heights, Washington; and an aircraft parts plant in Devens, Massachusetts.
In a recent quarterly earnings-related conference call, Jennifer Parmentier, the chief executive officer of Parker-Hannifin, said the company expects to see double-digit growth in aircraft deliveries and air traffic in 2024: "[Maintenance, repair and operations for] narrow-body aircraft are almost at pre-pandemic levels. There's a lot of engine repair and component restocking going on." Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read detailed reports on the maintenance projects in New York, Washington and Massachusetts.
RBC Bearings Incorporated (NYSE:RBC) (Oxford, Connecticut), which also caters to the transportation and aerospace industries, continues to benefit from its late-2021 acquisition of the Dodge mechanical power transmission division from ABB Limited (Zurich, Switzerland). As RBC prepares to expand capacity for its newest subsidiary, it also is preparing for full-year maintenance at the Dodge roller bearings plant in Marion, North Carolina. Subscribers can learn more through a detailed project report.
Two other projects from RBC attest to its growing demand from the aerospace industry: at subsidiary RBC AeroComponents' ball bearings plant in Ball Ground, Georgia, and subsidiary RBC Aerostructures' precision aerospace hardware plant in Westminster, South Carolina. Both facilities are expected to undergo weekly maintenance throughout 2024. Subscribers can read detailed reports on the Georgia and South Carolina projects.
"The aerospace market is now strongly accelerating, with volumes increasing quarterly," said Michael Hartnett, the chief executive officer of RBC, in a recent earnings call. "The demand drivers here are, of course, the large plane builders and their supply chain, all in support of production for Boeing Company (NYSE:BA) (Arlington, Virginia) and Airbus SE (Leiden, Netherlands) ships. Also, the private aircraft builders and, of course, the many subcontractors who support the industry."
Projects attributed to machinery and equipment in the construction market account for more maintenance-related investment than any other division of the U.S. heavy manufacturing sector. Astec Industries Incorporated (NASDAQ:ASTE) (Chattanooga, Tennessee), which specializes in machinery and equipment for asphalt and concrete production, accounts for two such full-year maintenance programs: at its mixer equipment plants in Chattanooga, Tennessee, and Blair, Nebraska. Subscribers can read detailed reports on the Tennessee and Nebraska projects.
"Last month, I attended the National Ready Mixed Concrete Association meeting in Nashville, Tennessee," said Jaco Merwe, the chief executive officer of Astec, in a recent earnings call. "While there, I was able to connect with various customers and dealers. They remain positive and this is reflected in the solid backlog we have for our concrete plants and related equipment."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for heavy-manufacturing maintenance projects that are set to kick off across the U.S. in first-quarter 2024.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 standard industrial classifications (SICs) for maintenance-related U.S. heavy manufacturing projects set to kick off from January through March, by total investment value.Parker-Hannifin Corporation (NYSE:PH) (Cleveland, Ohio) accounts for about $5 million of maintenance-related investment set to begin work in the first quarter, more than any other single company. Parker-Hannifin, which specializes in motion and control technologies for the transportation, aerospace and industrial markets, is preparing for full-year maintenance programs at three facilities that service the aircraft industry: a fuel-nozzle and tank-system manufacturing plant in Clyde, New York; a sheet metal fabrication plant in Airway Heights, Washington; and an aircraft parts plant in Devens, Massachusetts.
In a recent quarterly earnings-related conference call, Jennifer Parmentier, the chief executive officer of Parker-Hannifin, said the company expects to see double-digit growth in aircraft deliveries and air traffic in 2024: "[Maintenance, repair and operations for] narrow-body aircraft are almost at pre-pandemic levels. There's a lot of engine repair and component restocking going on." Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read detailed reports on the maintenance projects in New York, Washington and Massachusetts.
RBC Bearings Incorporated (NYSE:RBC) (Oxford, Connecticut), which also caters to the transportation and aerospace industries, continues to benefit from its late-2021 acquisition of the Dodge mechanical power transmission division from ABB Limited (Zurich, Switzerland). As RBC prepares to expand capacity for its newest subsidiary, it also is preparing for full-year maintenance at the Dodge roller bearings plant in Marion, North Carolina. Subscribers can learn more through a detailed project report.
Two other projects from RBC attest to its growing demand from the aerospace industry: at subsidiary RBC AeroComponents' ball bearings plant in Ball Ground, Georgia, and subsidiary RBC Aerostructures' precision aerospace hardware plant in Westminster, South Carolina. Both facilities are expected to undergo weekly maintenance throughout 2024. Subscribers can read detailed reports on the Georgia and South Carolina projects.
"The aerospace market is now strongly accelerating, with volumes increasing quarterly," said Michael Hartnett, the chief executive officer of RBC, in a recent earnings call. "The demand drivers here are, of course, the large plane builders and their supply chain, all in support of production for Boeing Company (NYSE:BA) (Arlington, Virginia) and Airbus SE (Leiden, Netherlands) ships. Also, the private aircraft builders and, of course, the many subcontractors who support the industry."
Projects attributed to machinery and equipment in the construction market account for more maintenance-related investment than any other division of the U.S. heavy manufacturing sector. Astec Industries Incorporated (NASDAQ:ASTE) (Chattanooga, Tennessee), which specializes in machinery and equipment for asphalt and concrete production, accounts for two such full-year maintenance programs: at its mixer equipment plants in Chattanooga, Tennessee, and Blair, Nebraska. Subscribers can read detailed reports on the Tennessee and Nebraska projects.
"Last month, I attended the National Ready Mixed Concrete Association meeting in Nashville, Tennessee," said Jaco Merwe, the chief executive officer of Astec, in a recent earnings call. "While there, I was able to connect with various customers and dealers. They remain positive and this is reflected in the solid backlog we have for our concrete plants and related equipment."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for heavy-manufacturing maintenance projects that are set to kick off across the U.S. in first-quarter 2024.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
