Multi-tasking machine tools market to display positive growth

due to the expected growth in end-user industries such as aerospace and medical devices, which accounted for close to 95% of the total market share in 2016,” says Gaurav Mohindru, a lead tools and components analyst from Technavio.

According to the research analysis, the global multi-tasking machine tools market is highly fragmented with the presence of several vendors. Rapid technological advances and the frequent changes in the market, as well as consumer preferences, constitute significant risk factors for the vendors operating in the market. Therefore, to succeed and survive in this extremely competitive environment, it is important for vendors to distinguish their product offerings and services through a clear and unique value proposition. The development of advanced and innovative technologies such as additive manufacturing will help the market grow during the forecast period.