Australia’s advanced manufacturers are transformative companies. The stories of doom and gloom ignores countless Australian manufacturers who are not only surviving, but prospering, as they tap new areas of growth and take their innovations to global markets. They are working to secure their own futures, create jobs, and help to underpin a sustainable Australian economy.
What is Advanced Manufacturing?
The Australian Advanced Manufacturing Council defines advanced manufacturers as globally-oriented and innovative manufacturers, in general sharing the following characteristics:
- High Intellectual Property component; high knowledge base.
- Dependent on global supply chains.
- The only public sector support needed is at the Research & Development phase through tax credits or leveraging public/private partnerships.
- Advanced manufacturers are likely to be engaged in collaborations with universities, the CSIRO and other research institutes.
- Advanced manufacturers sell to a global market and compete on distinctive qualities. The domestic market is not a constraint.
- These manufacturers constantly innovate to remain competitive.
- They leverage the latest thinking in technology and materials.
- Advanced Manufacturers produce high margin products.
- They have smaller capital and labour footprints but are higher paying, and provide higher quality work.
Advanced manufacturers embrace the development of new markets, new products, new technologies and new ways to manufacture existing products.
The following Australian Advanced Manufacturing Council Video sums up the current impressions of Australian Manufacturing.