The global fasteners market is projected to reach $151 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.6% from 2023, according to a new report from Allied Market Research. The market was valued at $97.2 billion in 2022.

The global contract manufacturing market is projected to reach $604.11 billion by 2030, according to a new report by 360iResearch.

A new report from Bain & Company outlines the potential for productivity gains in the machinery industry.

HUNTINGTON BEACH, CA—Karman Space & Defense will manufacture a variety of subsystems for the X-59, a new supersonic aircraft being developed by Lockheed Martin and NASA. 

ROME—Automation firm Comau and aerospace supplier Leonardo S.p.A. are working together to develop self-adaptive robotic technology that can autonomously inspect helicopter blades up to 7 meters long.

BREMERTON, WA—Inventech Marine Solutions, a Bremerton manufacturer that builds boats for the U.S. Coast Guard, other government agencies, and private owners all over the world, is expanding its manufacturing facility. Recent plans include expanding to house a 60,000-square-foot manufacturing facility currently under construction west of the Bremerton National Airport.

ELMHURST, IL—Global sales of cordless power tools are expected to increase from $12.5 billion in 2022 to more than $16.9 billion in 2027, representing a compound annual growth rate of 4.5 percent, according to market research firm Technavio.

EL MARQUÉS, Mexico—Nexteer Automotive has broken ground on its new Mexico Technical Center here. 

TUCSON, AZ—American Battery Factory (ABF), a manufacturer of lithium iron phosphate (LFP) batteries, has selected Lead Intelligent Equipment to supply custom automation equipment for its upcoming gigafactory here. 

OMAHA, NE—Manufacturers can attract new workers by offering better relocation benefits.