NOVI, Mich., March 7, 2017 /PRNewswire/ -- Tata Technologies, with survey assistance from the Association of Equipment Manufacturers (AEM) released today the 2017 Industrial Heavy Machinery Pulse Report, a new report created jointly to highlight the state of the construction industry within the broader scope of the global economy and identify trends that will impact heavy machinery manufacturers through 2017 and beyond. The report launch coincides with the opening day of CONEXPO-CON/AGG 2017, the construction industry's premier event for major players in the space, at which Tata Technologies is exhibiting.
The survey, which targeted engineering professionals at global organizations with more than 500 employees that manufacture construction, mining and agricultural equipment, aimed to uncover the challenges heavy machinery manufacturers face in the marketplace.
"This report captures the overall mood of the industry as companies seek to make sense of a fluid and rapidly changing environment," said Larry Buzecky, vice president, business intelligence and strategy, Association of Equipment Manufacturers. "While technological advances are coming at a bewildering pace, they afford great opportunity to increase business efficiencies, and we think organizations will find tremendous value in our findings."
With new infrastructure plans being discussed at the highest levels, decision-makers see great opportunity to drive production and increase sales. But with new opportunities come new challenges that have not previously been a factor. As vehicle autonomy and augmented reality, for instance, start to gain a foothold in the industry, the need for qualified talent becomes a top priority.
Per the report, 72 percent of OEMs have difficulty sourcing engineering candidates.
"New technologies and increased customer expectations add to the demand placed on lean development teams, which is already stressed by a shortage of experienced engineers," said Brian Horwath, vice president, global accounts, Tata Technologies. "By partnering with an engineering service provider, equipment manufacturers are able to better implement technologies and give their customers an efficient and cost-effective solution."
Other key findings from the survey include:
- More than 70 percent of respondents are prioritizing electrical/electronics in terms of product innovation.
- When it comes to platform consolidation, 70 percent of respondents cite a lack of engineering resources as the main challenge they face.
- Nearly 76 percent of respondents said their organization plans to invest in product R&D and enhance innovation to compete globally with lesser regulated international equipment manufacturers.
To read the report in its entirety, please visit: http://www.tatatechnologies.com/wp-content/uploads/2017/03/AEM-Report-Pages.pdf
Tata Technologies will exhibit at CONEXPO-CON/AGG March 7-11, at booth S-63508, located in South Hall. The company will host an immersive "ENGINEERING LIVE" experience in its booth, giving visitors the opportunity to virtually meet with highly skilled engineers from around the world. Attendees can learn more about the company's full machine development capabilities and system integration expertise.
About Tata Technologies
Tata Technologies makes product development dreams a reality by designing, engineering and validating the products of tomorrow for the world's leading manufacturers. With more than 8,000 professionals serving clients worldwide, Tata Technologies is the manufacturing industry's premier partner for advanced engineering, research and development, product lifecycle management consultancy and software, and connected enterprise IT solutions. For more information, please visit www.tatatechnologies.com.
About Association of Equipment Manufacturers
AEM is the North American-based international trade group providing innovative business development resources to advance the off-road equipment manufacturing industry in the global marketplace. AEM membership comprises more than 950 companies and more than 200 product lines in the agriculture, construction, forestry, mining and utility sectors worldwide. AEM is headquartered in Milwaukee, Wisconsin, with offices in the world capitals of Washington, D.C.; Ottawa, Canada; and Beijing, China. For more information, please visit www.aem.org.
Lisa Van Giesen
Head of Marketing, North America
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SOURCE Tata Technologies