Number of Precision Turned Product Manufacturing Businesses in the US (2000–2023)
As of 2023
19,834
precision turned product manufacturing businesses in the United States
Number of Firms Over Time
Total Employment Over Time
Key Insights
- •The precision turned product manufacturing industry has declined 20.7% since 2000 (from 25,013 to 19,834 firms).
- •The peak year was 2001 with 25,163 firms.
- •Recent trend (last 5 years): the industry is shrinking (-6.1%).
- •Employment: 356,189 workers in 2023 (-17.3% change since 2000).
- •Estimated 5-year survival rate: 72%.
Year-by-Year Data
| Year | Firms | Establishments | Employment | Entry Rate | Exit Rate | Net Growth |
|---|---|---|---|---|---|---|
| 2023 | 19,834 | 20,554 | 356,189 | 5.0% | 6.4% | +0.9% |
| 2022 | 20,276 | 20,940 | 356,395 | 5.8% | 6.4% | +2.7% |
| 2021 | 20,021 | 20,671 | 345,383 | 4.5% | 7.2% | -7.4% |
| 2020 | 20,521 | 21,147 | 374,697 | 4.1% | 6.8% | -3.1% |
| 2019 | 21,115 | 21,716 | 386,161 | 4.3% | 5.9% | +1.5% |
| 2018 | 21,455 | 22,044 | 381,711 | 4.9% | 5.9% | +2.6% |
| 2017 | 20,983 | 21,566 | 370,717 | 4.5% | 6.7% | -1.4% |
| 2016 | 21,183 | 21,764 | 371,636 | 4.8% | 6.4% | -5.0% |
| 2015 | 21,464 | 22,013 | 390,673 | 4.4% | 5.5% | +0.4% |
| 2014 | 21,654 | 22,175 | 390,699 | 4.3% | 5.4% | +0.9% |
Source: U.S. Census Bureau, Business Dynamics Statistics (BDS). Entry/exit rates refer to establishment openings and closings.