(1) Industry Background and Development Status
Precision component manufacturing refers to the process of transforming metal or non-metal materials into precision components with predetermined shapes and dimensions. This is achieved through advanced techniques such as high-precision metal forming processes, precision inspection, computer technology, and forming methods including pressure casting, investment casting, squeeze casting, die forging, stamping, machining, and powder metallurgy.

Compared to standard components, precision components exhibit higher machining accuracy, tighter dimensional tolerances, and superior surface finish. They are widely used in fields requiring exceptional precision and quality, such as analytical instruments, oil and gas services, semiconductors, medical devices, and aerospace. The precision component manufacturing industry, an interdisciplinary sector combining materials processing and machinery, originated in the 1960s in economically advanced regions like Europe, the U.S., and Japan.

During this period, as manufacturing specialization accelerated, large brand manufacturers began outsourcing precision component production to specialized firms to gain competitive advantages, spurring the emergence of numerous precision component manufacturers. In China, the industry took root in the 1980s. Benefiting from economic reforms and the global shift of industrial chains to emerging markets, China rapidly developed into a key global production hub for precision components. In recent years, through technology imports and independent innovation, China has established a comprehensive and self-sufficient manufacturing system.

According to the Ministry of Industry and Information Technology (MIIT), China’s manufacturing value-added output reached ¥33 trillion in 2023, accounting for 30% of the global total and ranking first worldwide. Rapid growth in telecommunications, electronics, automotive, semiconductor, healthcare, energy, and aerospace industries has further driven demand for upstream precision components, fostering continuous industry expansion. Currently, driven by domestic downstream sector development and overseas demand growth, China’s precision component manufacturing industry thrives.

Focusing on China, data from the National Bureau of Statistics shows that in 2023, the combined revenue of domestic metal product enterprises above designated size (annual revenue ≥ ¥20 million) reached ¥4,608.37 billion. It is projected that China’s metal product revenue will reach $880.1 billion by 2025.