GAITHERSBURG, Md., April 25, 2018 /PRNewswire/ -- Xometry, the
largest on-demand manufacturing platform, today released the
findings of its quarterly Small Manufacturing Index, showing that
40% of small manufacturers surveyed are likely to hire more
employees this year as business confidence has risen from a year
ago. Xometry partner manufacturers were even more likely to add
employees with 47% reporting that they will hire this year.
Additionally, 28% of those surveyed stated they have hired more
employees since Q1 2017.
The majority of small manufacturers in the US are more
optimistic about the market in the near future than they were a
year ago. 60% of small manufacturers surveyed said that their
business would either mildly or strongly increase this month vs.
the same month last year. Xometry partner manufacturers were even
more optimistic, with 34% of those surveyed expecting a strong
increase in business vs 14% for non-network manufacturers.
"We're pleased to see the continued growth in confidence and
hiring among small manufacturers," said Laurence Zuriff, Xometry co-founder and CFO.
"We're particularly happy to see that our manufacturing partners
are reporting an above average confidence toward their hiring
plans."
The quarterly index, which takes the pulse of small to mid-size
manufacturing shops, asked manufacturers both inside and outside
Xometry's partner network whether they expected to see growth in
business and hiring compared to previous months and years. These
small to mid-size manufacturers represent more than 190,000
companies in an over $50 billion
market.
About Xometry
Xometry is driving the business of American manufacturing
through a proprietary software platform which offers on-demand
manufacturing to a diverse customer base, ranging from startups to
Fortune 100 companies. It provides product designers and engineers
the most efficient way to source high-quality custom parts, with
24/7 access to instant pricing, expected lead time and
manufacturability feedback. Our nationwide network of over 1,000
partner manufacturing facilities enables us to maintain
consistently fast lead times while offering a broad array of
capabilities, including CNC Machining, 3D Printing, Sheet Metal
Fabrication, Injection Molding and Urethane Casting. Xometry has
over 9,000 customers, including BMW, General Electric and NASA.
About the Small Manufacturing Index
The Small Manufacturing Index, released quarterly by Xometry,
takes the pulse of American custom manufacturing by analyzing and
quantifying the performance of small to mid-size manufacturers. The
index is developed through a survey that asks members whether they
expect to see growth and hiring in business plans compared to
previous months and prior years. The survey is drawn from Xometry's
partner network of over 1,000 small to mid-size manufacturers as
well as from out-of-network manufacturers with fewer than 50
employees. The index aims to highlight trends over time to provide
analysis and predictions on the national outlook for small to
mid-size manufacturers.
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SOURCE Xometry