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HOT News and Findings
Digital Twins Can Save Billions
October 2024
As discussed in NIST AMS 100-61, the potential impact of digital twins is estimated to be $37.9 billion annually if they are fully adopted across the manufacturing industry. >>Read the full report
U.S. Plastics Recycling Economy
October 2024
NIST AMS 100-64 discusses the current state of plastics recycling, manufacturing, usage, and waste handling in the United States. It discusses and compares state level recycling programs along with national recycling programs in other countries, particularly those with high plastic recycling rates. >>Read the full report
Annual Report on U.S. Manufacturing
October 2024
NIST AMS provides an updated overview of U.S. manufacturing. In 2022 there was $15.0 trillion of value added (i.e., GDP) in global manufacturing in constant 2015 dollars, which is 17.5 % of the value added by all industries ($86.1 trillion), according to the United Nations Statistics Division. The U.S. accounted for $2.6 trillion (15.1 %) in manufacturing valued added while China accounted for $5.1 trillion (31.0 %). >>Read the full report
More news & Updates
- Biomanufacturing Economy: NIST AMS 100-52 estimates biomanufacturing (manufactured products made of biomaterials) and advanced biomanufacturing (products manufactured using activities that grow biological molecules and materials along with activities that alter biological material using non-mechanical means) value added in ways that make it consistent with estimates of U.S. GDP. Direct advanced biomanufacturing is estimated as being $94.6 billion annually while total direct biomanufacturing is $438.8 billion annually. >>Read the full report
Software Corner
NEW TOOL FOR INVESTMENT ANALYSIS - SITExpress: This online tool implements the methods discussed in NIST Advanced Manufacturing Series 200-5, which is a guide to Investment analysis. The tool implements net present value, internal rate of return, and payback period.
Contacts
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