Excerpt: By Dennis J. Donovan, Wadley Donovan Gutshaw Consulting (WDGC)

Machinery manufacturing tends to be a cyclical, capital-intensive industry. Since the great recession, revenue for companies in this sector has been steadily rising.

Global sales by U.S.-based machinery manufacturers were about $415 billion in 2017. Annual growth is forecast to be in the 3 to 4 percent range. Roughly a third of sales are composed of exports. Emerging economies, especially in Asia, represent the most fertile ground for export growth.

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