Tools commonly used in the Turned Parts-Precision (Manufacturing) industry for day-to-day tasks and operations.

• CNC lathes
• Swiss-style lathes
• Multi-spindle lathes
• Vertical machining centers
• Horizontal machining centers
• Grinding machines
• Boring machines
• Drilling machines
• Milling machines
• Broaching machines

Common products and services typical of NAICS Code 334514-08, illustrating the main business activities and contributions to the market.

• Aerospace components
• Automotive parts
• Medical implants
• Electronic connectors
• Hydraulic fittings
• Precision shafts
• Bearings
• Valves
• Fasteners
• Instrumentation components

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• ISO 9001:2015 Quality Management System: This certification ensures that the company has a quality management system in place that meets international standards. It is provided by the International Organization for Standardization (ISO).
• AS9100D Aerospace Quality Management System: This certification is specific to the aerospace industry and ensures that the company has a quality management system in place that meets industry-specific requirements. It is provided by the International Aerospace Quality Group (IAQG).
• ITAR Registration: This registration is required for companies that manufacture defense articles or provide defense services. It is provided by the US Department of State.
• NIST SP 800-171 Compliance: This compliance is required for companies that handle controlled unclassified information (CUI) for the US government. It ensures that the company has implemented security controls to protect CUI. It is provided by the National Institute of Standards and Technology (NIST).
• Rohs Compliance: This compliance ensures that the company's products do not contain restricted hazardous substances. It is required for companies that sell products in the European Union.

A concise historical narrative of NAICS Code 334514-08 covering global milestones and recent developments within the United States.

• The "Turned Parts-Precision (Manufacturing)" industry has a long history dating back to the Industrial Revolution. The first lathes were developed in the late 1700s, and by the mid-1800s, precision turning had become a common practice. In the early 1900s, the development of automatic screw machines revolutionized the industry, allowing for mass production of turned parts. In the United States, the industry saw significant growth during World War II, as precision turned parts were needed for military equipment. In recent years, advancements in technology have allowed for even greater precision and efficiency in the manufacturing process, with the use of computer-controlled machines and robotics becoming increasingly common.

The anticipated future trajectory of the NAICS 334514-08 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Turned Parts-Precision (Manufacturing) industry in the USA is positive. The industry is expected to grow due to the increasing demand for precision parts in various sectors such as aerospace, automotive, and medical devices. The industry is also expected to benefit from the increasing adoption of automation and advanced manufacturing technologies. However, the industry may face challenges such as rising raw material costs, increasing competition from low-cost countries, and the shortage of skilled labor. Overall, the industry is expected to grow steadily in the coming years.

Recent groundbreaking advancements and milestones in the Turned Parts-Precision (Manufacturing) industry, reflecting notable innovations that have reshaped its landscape.

• Smart Manufacturing Technologies: The industry is adopting smart manufacturing technologies such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning to improve efficiency, reduce costs, and enhance quality.
• 3D Printing: The use of 3D printing technology is increasing in the industry, allowing for the production of complex parts with high precision and accuracy.
• Advanced Materials: The industry is using advanced materials such as composites, ceramics, and alloys to improve the performance and durability of precision parts.
• Automation: The industry is increasingly adopting automation technologies such as robotics and automated guided vehicles (AGVs) to improve efficiency and reduce labor costs.
• Lean Manufacturing: The industry is adopting lean manufacturing principles to reduce waste, improve quality, and increase efficiency.