Developing Equipment for Niche Markets and Reputations for High-quality and High-performance
U.S. Market Competition and Growth Forecast
U.S. companies face intense competition from foreign manufacturers from Germany, China, Malaysia, Japan, and other regions, and electronic test and measurement equipment imports account for approximately 70% of the market. Still, domestic manufacturers continue to find success by specializing in equipment for niche markets and developing reputations for high-quality and high-performance. Exports constitute approximately 75% of the U.S. electronic production, inspection and test equipment industry output.
Although industry sales tend to be somewhat cyclical in nature due, in part, to a reliance on government and defense spending, the market is expected to grow at a healthy compound annual rate of 3.55% between 2018 and 2023 to $28.98 billion.
