Connect with us

Technology

Global Precision Parts Market to Reach USD 376.96 Billion by 2031 as OEM Demand Moves Toward Higher-Value Components – Arizton

Published

on

CHICAGO, Aug. 11, 2026 /PRNewswire/ — According to recent research by Arizton, the global precision parts market was valued at USD 264.82 billion in 2025 and is expected to reach USD 376.96 billion by 2031, growing at a CAGR of 6.06% during the forecast period.

Explore the Latest Industry Analysis Now: https://www.arizton.com/market-reports/precision-parts-market-size

Browse in-depth TOC on the Global Precision Parts Market

Pages: 241
Region: 5
Countries: 23
Company: 60
Segment: 5

Global Precision Parts Market Snapshot

Market Size (2031)

USD 376.96 Billion

Market Size (2025)

USD 264.82 Billion

CAGR (2025-2031)

6.06 %

Historic Year

2022- 2024

Base Year

2025

Forecast Year

2026-2031

Segments Covered

Component Type, Material Type, End-User, Sales Channel, and Geography

Geographic Analysis

APAC, North America, Europe, Latin America, and Middle East & Africa

Precision Parts Suppliers are Moving into Higher-Value Manufacturing

Precision parts manufacturers are increasingly moving beyond standalone components to supply assembled, tested, and production-ready sub-systems. OEMs across automotive, aerospace, industrial machinery, and defense are increasingly preferring suppliers that can provide more complete solutions, creating greater involvement in product development, engineering collaboration, testing, and lifecycle support. SFS Group, for example, has expanded from precision fasteners and formed metal parts into application-critical precision components and integrated assemblies. In automotive, the company manufactures electronic brake modules and airbag sub-assemblies, combining steel components with plastic molded housings and electrical contacts.

Defense Demand Is Shifting Toward More Complex Precision Components

Defense is becoming an increasingly important end market for precision parts manufacturers as military modernization shifts demand toward more complex, tightly engineered components. Fighter aircraft, missile systems, naval platforms, air defense systems, and other advanced defense equipment require parts that meet strict requirements for tolerance, materials, certification, and reliability. This is creating opportunities for suppliers with advanced machining, forging, casting, and inspection capabilities, particularly as Europe expands rearmament programs and countries across Asia increase defense procurement. The opportunity for precision parts manufacturers therefore extends beyond higher volumes: qualification, production consistency, and the ability to meet demanding defense specifications are becoming important differentiators in winning long-term programs.

EV Adoption is Changing the Precision Parts Mix

The shift toward electric vehicles is changing the types of precision components required across automotive manufacturing. As OEMs develop EV platforms alongside existing ICE models, demand is expanding for battery enclosures, motor housings, thermal management systems, lightweight structural components, power electronics housings, and electrified driveline parts, while conventional automotive components continue to be produced. This changing vehicle mix is also influencing investment among Tier 1 suppliers. In January 2025, Linamar announced a $1.1 billion investment in Ontario covering powertrain, e-axle, battery, and hydrogen fuel cell technologies, reflecting the expansion of manufacturing capabilities around emerging vehicle technologies.

APAC Combines Precision Engineering with Manufacturing Scale

APAC holds over 36% of the global precision parts market, making it the largest regional market as well as the fastest-growing major region. Its strength comes from the different capabilities across key manufacturing countries. Japan and South Korea have established expertise in ultra-precision engineering, while China leads in market size and large-scale production, with demand spread across automotive, electronics, rail, shipbuilding, medical, and industrial applications.

India is the fastest-growing major market, supported by manufacturing initiatives and rising localization across aerospace, defense, electronics, semiconductors, and electric vehicles. Taiwan and Thailand are also strengthening their manufacturing roles. Together, these markets are creating a regional ecosystem that combines advanced precision capabilities, production scale, and localized manufacturing, supporting APAC’s growing importance in the global precision parts supply chain.

Get detailed market forecasts, competitive benchmarking, and pricing trends: https://www.arizton.com/market-reports/precision-parts-market-size

Precision Parts Market Segmentation: Where Demand Is Concentrating

Machined Components: Machined parts hold around 40% of the market, reflecting continued demand for complex, tight-tolerance components across aerospace, defense, medical, industrial, and EV applications.Metals & Alloys: Steel and steel alloys remain the dominant material base, while aluminum, titanium, superalloys, copper, and brass are gaining relevance across lightweighting, high-performance, and electrification applications.Electronics & Semiconductors: With a 6.97% CAGR, electronics and semiconductors represent the fastest-growing end-user segment, where semiconductor equipment requires ultra-flat surfaces, micro-hole drilling, and sub-micron accuracy.Direct Sales: Direct supplier relationships remain the leading channel as OEMs and Tier 1 suppliers increasingly engage precision manufacturers for customized components, engineering collaboration, quality assurance, and long-term supply agreements.

Major Vendors in the Global Precision Parts Market

Key Vendors

Barnes AerospaceImpro Precision Industries LimitedLinamar InternationalMartinrea International Inc.NN Inc.Bharat Forge LimitedRegal RexnordSuprajit GroupAccuRoundsAequs

Other Prominent Vendors

Anton Haring KGArmor Meca IndustriesBerger GroupBeyonics PTE LTDBooster Precision ComponentsBruder GmbHPoppe + PotthoffDongguan Tuoyue Hardware Technology Co., Ltd.BonfiglioliCaldwell ManufacturingConsolidated Precision Products Corp.Coler Supply SolutionsDana IncorporatedDoncasters Group LimitedThe Partner Companies (TPC)Fritz WinterGreystoneHoppe TechnologiesIPE Group LimitedGE AerospaceKern LiebersKPTEC GroupMacht Technologies Private LimitedMecachromeBoschMendritzki GroupMeiruch & Hiffman GmbHPacific West America Inc.Precision Castparts Corp.Pursuit Aerospace Inc.Petersen Precision Engineering LLCSigma ComponentsSKF GroupSMC CorporationTessa Precision Products Inc.Lampin CorporationZollern GmbHRosenbergerHartford TechnologiesPrecision Resource Inc.SPR GroupSpaleck GroupAce Precision Machining Corp.Lemor Mechanical Industry Ltd.Cox Manufacturing Company Inc.UnimechSFS GroupGlobo UsinagemINDO-MIMProtolabs

What Key Findings Will Our Research Analysis Reveal?

How big is the global precision parts market?What is the growth rate of the global precision parts market?What are the key trends in the global precision parts market?Which region dominates the global precision parts market?Who are the key vendors in the global precision parts market?

Some of Our Top-Selling Market Reports

Cordless Power Tool Market Research Report 2025-2030

Power Tools Market – Global Outlook & Forecast 2024-2029

Why Arizton?

100% Customer Satisfaction                                              
24×7 availability – we are always there when you need us                                              
200+ Fortune 500 Companies trust Arizton’s report                                              
80% of our reports are exclusive and first in the industry                                              
100% more data and analysis                                              
1500+ reports published till date                             

Post-Purchase Benefit                                           

1hr of free analyst discussion                                           10% off on customization                        

About Us:                                                                                   
Founded in 2017, Arizton Advisory & Intelligence delivers data-driven market research and strategic consulting that empowers clients to make informed decisions and drive growth. Combining quantitative and qualitative insights, we provide in-depth analysis across industries including Agriculture, Consumer Goods, Technology, Automotive, Healthcare, Data Centers, and Logistics. Recognized by top-tier media, our expert team transforms complex market data into actionable strategies, helping clients anticipate trends, seize opportunities, and stay ahead of the competition.

Contact Us                                   
Mail: enquiry@arizton.com
Contact Us: https://www.arizton.com/contact-us
Website: https://www.arizton.com/
Call: +1 312-680-2940

 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/global-precision-parts-market-to-reach-usd-376-96-billion-by-2031-as-oem-demand-moves-toward-higher-value-components–arizton-302848236.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Feathery Launches AI-Powered Proposal Generation for Wealth Management

Published

on

By

New tool will help firms deliver a highly personalized client experience at scale

SAN FRANCISCO, Aug. 11, 2026 /PRNewswire/ — Feathery, the AI operating and decisioning system for financial services, today announced the launch of its new AI-Powered Proposal Generation solution for wealth management firms. As firms look for ways to improve organic growth rates, this innovation solves the long-standing operational challenge of creating highly personalized proposals for every client.

Proposal Generation makes highly personalized proposals practical at scale. Feathery brings together client data, planning documents, advisor expertise, and firm-approved templates in a single AI workspace, drawing information from systems such as Salesforce, eMoney, Vanilla, Holistiplan, Addepar, Morningstar, and more. Feathery’s AI assistant, Robin, uses those inputs to draft a proposal tailored to each client’s financial picture, goals, and priorities while maintaining the firm’s templates, branding, and disclosures. Teams can then collaborate on the proposal and chat with Robin in natural language to make changes, with updates reflected directly in the document.

“Wealth firms know how to deliver personalization that’s unique to each client’s financial situation but doing so takes time and requires significant collaboration across different groups in an organization,” said Peter Dun, co-founder and CEO of Feathery. “Feathery helps firms bring together their collective expertise and remove operational complexity so they can deliver more personalized experiences while reducing manual work.”

Reflecting Each Client’s Unique Financial Story

With Proposal Generation, Feathery helps firms overcome the traditional tradeoff between speed and personalization. By reducing the manual preparation and coordination behind each proposal, Feathery helps firms deliver a higher level of personalization more consistently across their advisor teams, without requiring the same level of effort for every client.

Proposal Generation is the latest addition to Feathery’s platform that is flexible and specialized enough to power the entire client and policy lifecycle while fitting seamlessly into the systems firms already rely on. Feathery has extensive experience automating complex wealth management workflows including advisor onboarding, account opening, advisor transitions and repapering.

See AI Proposal Generation in action at https://www.feathery.io/wealth-management/proposal-generation

About Feathery

Feathery is an AI operating and decisioning system purpose-built for financial services enterprises. Insurance and wealth management firms use Feathery to automate data collection, document processing, onboarding experiences, and operational workflows while integrating seamlessly with existing systems. For more information, follow Feathery on LinkedIn or visit https://www.feathery.io/.

Media Contact

Grant Cox
Haven Tower Group
424 317 4871
gcox@haventower.com

View original content:https://www.prnewswire.com/news-releases/feathery-launches-ai-powered-proposal-generation-for-wealth-management-302847672.html

SOURCE Feathery

Continue Reading

Technology

Cambrex Milan Celebrates 80th Anniversary with Construction of New $30 Million R&D Facility

Published

on

By

EAST RUTHERFORD, N.J., Aug. 11, 2026 /PRNewswire/ — Cambrex, a leading global contract development and manufacturing organization (CDMO), today announced the start of construction on a new research and development (R&D) facility at its Milan, Italy site. This $30 million investment will add advanced analytical development and process R&D capabilities, alongside upgrades to multiple production plants, reinforcing Cambrex’s commitment to supporting the pharmaceutical industry’s most complex small molecule development.

The Milan R&D expansion is expected to be completed in the second half of 2027. To accommodate future growth and rising demand for CDMO services, Cambrex has also acquired additional land adjacent to the site, ensuring the capacity to expand and innovate for years to come.

The Cambrex Profarmico Milano site, which marks its 80th anniversary this year, has a distinguished legacy of supporting pharmaceutical development and manufacturing for its global client base. The Milan team recently gathered to celebrate this milestone, reflecting on eight decades of scientific achievement and dedication to advancing human health.

Claudio Russolo, Chief Operating Officer at Cambrex, commented: “Breaking ground on this new facility is a testament to the enduring legacy and expertise of our Milan team. For 80 years, this site has been a cornerstone of pharmaceutical manufacturing in Europe. With this expansion, we are investing not only in new technologies and capabilities, but in the future of our people and our partners.”

The investment builds on Cambrex’s legacy of scientific expertise and manufacturing excellence while positioning the company for its next chapter of growth. By expanding R&D capabilities in Milan, Cambrex is strengthening its ability to address the increasing complexity of today’s small molecule therapies.

About Cambrex

Cambrex is a leading global contract development and manufacturing organization (CDMO) that provides drug substance development and manufacturing across the entire drug lifecycle, as well as comprehensive analytical services.

With over 45 years of experience and a team of 2,000 experts servicing global clients from North America and Europe, Cambrex offers a range of specialized drug substance technologies and capabilities, including continuous flow, controlled substances, peptide synthesis, solid-state science, biocatalysis, material characterization, complex synthetics, and highly potent APIs.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/cambrex-milan-celebrates-80th-anniversary-with-construction-of-new-30-million-rd-facility-302847160.html

Continue Reading

Technology

Civitas ID Receives $500,000 Grant to Build Open-Source Digital Public Infrastructure Closing the Documentation Gap

Published

on

By

$500,000 two-year grant from the Gates Foundation to advance open-source Digital Public Infrastructure designed for people excluded from formal systems due to documentation gapsAdvances open-source technology leveraging open standards and artificial intelligenceAddresses the documentation gap that prevents nearly a billion people from fully participating in the global economy, initially focused on displaced populations where the barrier is most acute

SAN FRANCISCO, Aug. 11, 2026 /PRNewswire/ — Civitas ID, a US-based nonprofit building open-source digital identity infrastructure, today announced a two-year, $500,000 grant from the Gates Foundation. The funding continues the development of a resilient Digital Public Infrastructure (DPI) specifically designed to close the documentation gap that prevents nearly a billion people worldwide from fully participating in the global economy. Civitas is initially focused on displaced populations where the barrier is most acute, with technology built to serve the wider population over time.

A barrier keeping people around the world from formal work, banking, healthcare, and education is not poverty alone. It is the inability to prove who they are and what they have done in a way institutions recognize. Civitas is developing three components to close that gap: verifiable digital credentials that institutions issue and verify, a wallet where individuals hold and control their own credentials, and a platform that helps people navigate the services and aid available to them. Together they are designed to be durable, adopted by governments and multilateral institutions, and adapted by partners. Civitas is actively developing partnerships and pilot programs in Colombia and Kenya to close the documentation gap.

“Nearly a billion people lack documentation institutions will trust,” said Colin Walsh, Founder and Board Chair, Civitas ID. “Civitas is initially focused on the 117.8 million forcibly displaced, where the barrier is most acute. They carry skills, ambitions, and the will to build stable lives. This funding from the Gates Foundation lets us build the digital public infrastructure to address the problem at scale and shift the paradigm from aid to self-reliance.”

The architecture is open-source and inspectable, built on W3C Verifiable Credentials, Decentralized Identifiers, and open protocols. The credentials are designed for institutional recognition across governments, banks, employers, healthcare providers, and schools.

Human-centered design research led by IDEO.org has anchored the technology development in the actual needs of the people it serves. The objective is that people own their identities and use verifiable credentials to unlock opportunity, stability, and long-term mobility, wherever they are.

ABOUT CIVITAS ID
Civitas ID is a US-based 501(c)(3) non-profit organization (EIN 39-2324240) building open-source digital identity infrastructure. Civitas ID’s mission is to turn documentation from an economic barrier into an institutionally recognized bridge to opportunity and integration. The organization’s vision is a world where everyone can prove who they are and what they have done, wherever they are. Civitas ID has assembled a global ecosystem of humanitarian, academic, financial, technology, and legal partners across deployment corridors in Colombia and Kenya. Learn more at civitasid.org.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/civitas-id-receives-500-000-grant-to-build-open-source-digital-public-infrastructure-closing-the-documentation-gap-302847759.html

SOURCE Civitas ID

Continue Reading

Trending