MT Magazine September/October 2024

MANUFACTURING MATTERS

THE SPACE ISSUE

10

ADVOCACY

Next up: Congress Tackles Spending Congress reconvened in September, passing a stopgap spending bill on Sept. 25 to avert a government shutdown. The bill extends federal finances to Dec. 20, expiring after the presidential election and during the lame duck period of President Joe Biden’s term. This could result in Congress passing funding bills for 2025 or another short-term bill that will fund the government until after the next president is inaugurated. The next Congress and administration will address national security and competitiveness issues that impact your business, including appropriations, the expiration of the 2017 tax cuts, supply chain sustainability, and geopolitical unrest. It's crucial that the candidates running for office understand the importance of manufacturing technology in addressing these issues. These weeks before the election are an excellent time to engage with candidates running in your district, state, and national races. Ask them about their stances on manufacturing issues.

INTERNATIONAL

Wings of Change: International Advances in Aerospace Manufacturing Space is a global business, and business is booming. According to the Space Foundation, 2023 saw the global space economy reach a record-breaking $570 billion. That is double what it was a decade ago and is being driven by steady private and public sector investment. The new frontier, indeed.

Well-entrenched key players like SpaceX, Boeing, Lockheed Martin, and Blue Origin are in the United States. Perhaps lesser known are Thales, ISRO, Rocket Lab, and CASC from Europe, India, New Zealand, and China, respectively.

With such a field of competition, where should you turn to take advantage of this sector's growth? Three countries are emerging as significant players in the global aerospace manufacturing landscape – India, Mexico, and Vietnam – due to strategic advantages such as cost-effective labor, favorable government policies, and a growing expertise in advanced manufacturing.

AMT has offices and tech centers to service these three countries to assist our members in establishing sales. Visit AMTonline.org/products/mt-tech-centers to take flight and bring your business to new heights.