Did You Feel it?
I did; there was an air of optimism at IMTS.
We exhibited at this year’s IMTS show with low expectations following more than two years of contraction in the metalworking industry. Would customers come, and if they did, would they be in a buying frame of mind or just want to kick the tires to see if there is anything new? We were pleasantly surprised by how things unfolded after the opening bell on Monday. The aisles were jammed, and people seemed to have renewed optimism. We received more inquiries about our machine-ready blanks in the first three days than we did during the whole show in 2022. Customers were engaging and open to hearing about ways to become more efficient.
In my opinion, the general tone around efficiency has changed. It used to be more about improving processes, reducing waste, and managing the bottom line. Don’t get me wrong; these are all still top of mind, but now there is a growing concern about capacity. When the market returns and it will, are shops positioned to meet the demand, especially when it comes to having skilled human resources?
If I were to pick a recurring theme at this year’s IMTS show, it would have to be automation. There seemed to be a lot of technology dedicated to helping shops become more efficient in the face of continuing workforce development challenges, from material handling to autonomous machining solutions and everything in between. The pervasive message being parroted by exhibitors was “do more high-quality machining with less human intervention.”
The turnout for IMTS 2024 was just over 89,000 people, roughly 3,000 more than attended the 2022 show, and a far cry from the record set in 2018 when more than 129,000 people showed up, albeit driven by a strong economy. From our perspective, we are finally feeling a positive difference. In 2022, you could feel the onset of negativity associated with a slipping economy and projections of a nearly 30% market contraction. This year, as we move into the fourth quarter, we are seeing strengthening orders for machine-ready blanks coupled with optimistic economic projections for the industry in 2025 and forward. We are also keenly aware of how our products fit into the automation value chain. Machine-ready blanks are consistent, blank-to-blank, making them ideal for automated material handling, placement, and workholding.
My greatest takeaway from IMTS is a reminder that necessity truly is the mother of invention, or in this case, innovation. Capitalism works, and I am proud to be part of an industry that is both creative and resilient to the shifting sands of change. The show delivered real strategies, products, and workflows designed to make OEM manufacturers and job shops more efficient in the face of improving market conditions and a continuing shortage of skilled labor.
Thanks for reading –
Ben