Control, Electromedical, Measuring & Navigational Instruments Manufacturing

Control, Electromedical, Measuring & Navigational Instruments Manufacturing

Brief Excerpt from Industry Overview Chapter:

Companies in this industry segment manufacture navigational, measuring, electromedical, and control instruments, including aeronautical instruments, appliance regulators and controls, analytical lab instruments, navigation and guidance systems, and various types of testing equipment. Major companies include Agilent Technologies, Danaher, Honeywell, L3Harris, Medtronic, Northrop Grumman, Raytheon Technologies, and Thermo Fisher Scientific (all based in the US), as well as ABB (Switzerland) and Siemens (Germany).

COMPETITIVE LANDSCAPE

Demand is driven by technological advancements, as well as growth in primary end markets such as aerospace and medical services. The profitability of individual companies depends on continuous, rapid product development. Large companies enjoy economies of scale in manufacturing, broad product lines, and established distribution relationships. Small companies can compete effectively by developing advanced or specialized technology, or by subcontracting for larger firms. The US industry is concentrated: the 50 largest companies generate more than 60% of industry revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major products include search, detection, navigation, and guidance instruments (about 50%); analytical and scientific instruments (about 20%); and aeronautical, nautical, and navigational instruments (more than 10%). Other products include irradiation, physical properties testing, and inspection equipment.