(AMT: McLean, VA) -- Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between the Association for Manufacturing Technology (AMT) and the U.S. Cutting Tool Institute (USCTI), totaled $179.5 million in December 2024. Orders decreased 2% from November 2024 and were down 4.3% from December 2023. Shipments totaled $2.43 billion for 2024, down 0.6% from shipments made in 2023. The year-to-date growth rate declined every month in 2024, beginning in April.

“Our industry continued to feel the effects of a stagnated aerospace market as we ended 2024, and this sets us up for a rather uneven first and second quarter,” says Steve Boyer, president of USCTI. “Cutting tool markets still tended to perform better than other markets through the end of 2024 and start of 2025 but have noticeably softened. Adjusted lower outlooks for this year in the transportation, automotive, aerospace, and defense sectors will project a slower rebound.”

 …