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2. Precision Engineering focuses on
the production and/or
maintenance/refurbishment of
bespoke components, plant and
machinery, to strict specifications
with very low tolerances measured
in microns (1micron = 0.001mm).

3. Precision Engineering is strongly linked
to the manufacturing industry and in
particular to various sectors including
automotive, aerospace, defense, as
well as a host of energy, transportation
and construction fields.

5. THE EUROPEAN SOCIETY FOR PRECISION ENGINEERING AND
NANOTECHNOLOGY, which was formed in 1999 with
funding from the EU and, “provides an entrepreneurial platform that enables
companies and research institutes to
promote their latest technology developments, products and services and
keep up to date with those in the field”

6. The precision parts market
by revenue is expected to grow at a CAGR
of over 10% during the period 2019–2025.
• One of the key sectors driving innovation
in the healthcare and medical devices
industry is micro-manufacturing.
• The demand for minimally invasive
curative and diagnostic procedures is
growing exponentially as medical
service delivery organizations and
patients are striving to reduce
operational and recovery times and
increase the accuracy of diagnosis.
• As technology providers are increasingly
forging partnerships with medical device
OEMs, there arises a need for highly
optimized solutions. However, the
demand for key components and spare
parts is set to grow high, facilitating the
easy availability of precision parts.

8. Precision Engineering spans, “…semiconductor
chips, to the most advanced medical devices and
the most sophisticated drill bits used in oil
exploration, Precision Engineered products play a
vital role in the development of the overall
economy”. This means that Precision Engineering
entities have a symbiotic relationship with many
manufacturing sectors whose success or otherwise
directly impacts their Precision Engineering
suppliers and currently, that impact is generally
largely beneficial.

9. Precision Engineered products have an important role to play in the
maximization of fuel efficiency and reduction of vehicle CO2 emissions,
both issues which are currently very visible on the global stage.

11. The very latest in
precision inspection
allows for documented
high quality, precision
engineered component
parts and equipment to
be manufactured
efficiently and
effectively at the
lowest possible cost
for large scale
engineering projects.

12. The ever growing
need for miniature
and precise parts is
restricted by current
technological
limitations.
Digital mass
manufacturing of
precision parts is
possible by 3D
Printing

13. 3D printing can be one of the biggest
advantages to the industry because it takes
away any human error, but also save on time
and costs involved. 3D printing can and will
accelerate and improve many industries in the
coming years as it continues to break down
barriers to ground-breaking innovation.
To be able to take precision
engineering and then
incorporate that into 3D
printing will revolutionize many
industries and provide a low
cost way of replicating objects
over and over again.

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