Advanced manufacturing, the use of innovative technology to improve products or processes, with the relevant technology being described as “advanced”, “innovative” or “cutting-edge” has the potential to benefit all manufacturers. Advanced manufacturing industries increasingly integrate new innovative technologies in both products and processes, improving productivity and competitiveness.
Some examples of advanced manufacturing technologies are:
- additive manufacturing (3D printing)
- robotics and automation
- advanced materials
- artificial intelligence and machine learning
- nanotechnologies
- biotechnologies
The Australian manufacturing sector is transforming with its future lying in emerging new technologies and developing high value-added products and services for the global market place.
The government has pledged A$100 million into the Advanced Manufacturing Fund to drive innovation in the sector, create jobs, grow businesses, improve productivity and be globally competitive. Support includes:
- encouraging investment in new technologies
- stimulating further research
- investing in emerging engineers and scientists
- providing facilities to test new products
- develop business capability
The NSW government considers advanced manufacturing as a priority high growth sector. Startups and new businesses will do well to carve out a niche market that promotes the use of new technology in this space, advanced manufacturing.
