First Research US Industry Profile

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Electronic Test & Measurement Instruments Manufacturing
SIC Codes: 3825
NAICS Codes: 334515
Last Quarterly Update: 6/3/2019
Companies in this industry manufacture equipment used to test electrical properties and signals. Major companies include Agilent, Danaher, Keysight Technologies, and KLA-Tencor (all based in the US), along with Anritsu (Japan), Rohde & Schwarz (Germany), Spirent Communications (UK), and Yokogawa Electric (Japan).
The global electronic test and measurement instruments market is forecast to reach $23 billion by 2021, according to Technavio. The industry requires the use of semiconductors and other electronic components most commonly sourced from manufacturers in Asia. World events and regional economic fluctuations that interrupt supplier activity or supply chains can delay product shipments and impact a company's profitability.
The US electronic test and measurement instruments manufacturing industry includes 785 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $11 billion.
Competitive Landscape
Demand is driven by growth in industries such as electronics and semiconductor manufacturing, telecommunications, and aerospace and defense. The profitability of individual companies depends on controlling manufacturing costs and maintaining continuous, rapid product innovation. Large companies enjoy economies of scale in sourcing components and product distribution. Small companies can compete by specializing in equipment for niche markets or developing a reputation for high-quality products. The US industry is concentrated: the largest 50 companies account for about 70% of revenue.
US companies face competition from foreign manufacturers: electronic test and measurement equipment imports account for about 60% of the market. Germany, Mexico, Malaysia, Japan, and Canada are the largest sources of imported goods. Foreign markets are increasingly an important segment for domestic test and measurement instrument manufacturers. Exports are about 60% of US industry output. Top export markets include China, Mexico, Canada, and Taiwan.
Products, Operations & Technology
Major products include instruments such as frequency counters, logic analyzers, multimeters, oscilloscopes, voltmeters, and waveform synthesizers. Other ... plus:
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