Digitization of industry has become an established global trend. Despite all the enthusiasm of visionaries, the machine tool is, was and will remain the core element in production.
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The average lifespan of a company on the S&P 500 has fallen to 20 years from more than 60 years in 1960. The power and influence of technology will increase as much in the next 18 months as it has in the last 30 years.
A new breed of turbochargers constructed of super tough alloys operates at higher temperatures and rotational speeds than ever before, resulting in greatly increased output in a smaller package for gas and diesel engines alike.
There have been many process improvement trends in manufacturing over the decades, and none have had more significant ROI than machine monitoring. The increase in machine monitoring is owed in large part to the rise in popularity of the open and royalty-free interconnectivity standard MTConnect.