Manufacturers look to invest for the future

IT IS inherent in the DNA of manufacturers that they must have the ability to quickly adapt to changes in circumstance. Technology evolves so fast these days that new developments can quickly become outdated. But it is not the advance of technology that has kept the manufacturing industry on its toes this year, but the shifting political landscape.

As I write this column, we are into our third administration of the year and looking at a tough period ahead, with Bank of England forecasts suggesting a deep recession.

Adapting to a changing landscape

Recession is nothing new to manufacturers, although the circumstances of this dip are unusual. The ongoing disruption from the pandemic, economic headwinds due to a war on the Eastern European mainland and an unprecedented hike in energy and food costs have significantly heightened anxiety.

Despite this, the MTA encourages UK manufacturers to take a mid-to-long-term view on things and to continue investing in the latest machines and technology. By doing so, they will enable themselves to make step-change improvements in productivity and competitiveness and in turn, hasten their return on investment.

Empty platitudes? Not a bit of it. Evidence shows a strong desire amongst manufacturers to invest and the MTA can point to its own MACH exhibition as proof of the positivity of the UK’s engineering and manufacturing community.

Despite the doors of MACH 2024 not opening for another eighteen months, the exhibition has already received strong support from MTA members, with almost two-thirds of the exhibition space already sold. A ballot of non-members has just been completed and there is a strong likelihood that more space will go.

In the current climate, such a show of support for the UK’s national manufacturing show is extremely positive and suggests there are many reasons to remain optimistic. We had expected MACH 2022 to be a pivotal event as the industry looked to emerge from the pandemic in a strong position, but there is now a strong argument for saying that MACH 2024 is even more critical to the future of UK manufacturing.

Shaping the future of manufacturing 

MACH has - and always will - play a pivotal role in helping to shape the future of the manufacturing industry. Its ability to connect manufacturing engineers, decision makers, buyers and specifiers with suppliers of new technology, equipment, services and processes is unrivalled and is why we are already implementing steps that will ensure MACH 2024 is our best ever exhibition.

Co-locating with MACH 2024 will be the Engineering Supply Chain Show, sponsored by The Engineering Industries Association (EIA). This new exhibition is for the main part, a response to the immediate needs of UK manufacturers and engineers to capitalise on new opportunities. It also brings together a wider audience focused on capacity in the UK subcontracting and supply chain sectors.

The ESC show will include new specialist zones, with a strong focus on energy efficiency in the engineering supply chain, machine and equipment safety, motion control and sensors used in manufacturing. It will also feature a strong message around greener manufacturing, with UK-sourced goods and services helping to reduce goods miles.

Energy efficient technology and decarbonisation were major themes at MACH 2022 and I expect this to continue for MACH 2024 and beyond, partly as a response to current circumstances but mainly because of the huge opportunities these offer. So, if the advance bookings for 2024 are anything to go by, then there is no shortage of interest amongst manufacturers for investment - and long may this continue.

James Selka is CEO of the Manufacturing Technologies Association

For more information:

www.mta.org.uk

Tel: 020 7298 6400