NAICS 3364 - Aerospace Product and Parts Manufacturing
This industry comprises establishments primarily engaged in one or more of the following: (1) manufacturing complete aircraft, missiles, or space vehicles; (2) manufacturing aerospace engines, propulsion units, auxiliary equipment or parts; (3) developing and making prototypes of aerospace products; (4) aircraft conversion (i.e., major modifications to systems); and (5) complete aircraft or propulsion systems overhaul and rebuilding (i.e., periodic restoration of aircraft to original design specifications).
Industry trends:
The NAICS 3364 Nonferrous Die-castings, Except Aluminum industry is experiencing several notable qualitative trends. One key trend is the increasing demand for lightweight and high-strength materials. As industries such as automotive and aerospace strive for greater fuel efficiency and lower emissions, nonferrous materials like magnesium and zinc are gaining prominence due to their advantageous properties over traditional materials. These materials offer a good balance of strength versus weight, thus becoming the preferred choice in critical applications.
Another trend is the rising adoption of advanced manufacturing technologies. Processes like computer-aided design (CAD) and computer-aided manufacturing (CAM) are improving the precision and efficiency of die-casting operations, facilitating the production of more complex and customized components. In addition, there's an uptick in the utilization of Industry 4.0 principles, including the Internet of Things (IoT) and artificial intelligence (AI), to enhance predictive maintenance and quality control.
Sustainability is also increasingly critical. Companies are focusing on recycling and waste reduction to address environmental concerns. Recycled nonferrous materials are becoming integral to the supply chain, driven by both regulatory pressures and consumer demand for greener products.
Looking to the near future, the market is poised for further growth driven by technological advancements and the expanding application of nonferrous die-casting in electric vehicles (EVs) and renewable energy sectors. By leveraging innovations and sustainable practices, the industry is expected to meet the evolving demands while adhering to environmental standards.
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