AMA Association Continues to Record Clearly Positive Results
"Our members' economic results continue to show an upward trend in the first quarter, " says Thomas Simmons, executive director of the AMA Association for Sensor and Measurement Technology. The biggest challenge facing our industry remains the procurement difficulties that determine our members' ability to deliver."
The AMA Association for Sensor and Measuring Technology surveys its 450 members quarterly on economic development. The industry reports sales growth of seven percent for the first quarter, compared to the previous quarter. New orders were up eight percent at the start of the year. The industry is off to a positive start overall in the first quarter of 2022 and expects sales growth of six percent in the second quarter.
Growth despite supply difficulties
If the sensor and measurement technology industry already showed itself with significant growth last year, it continued this trend in the first quarter of 2022. AMA members generated an increase in sales despite the continuing supply difficulties, with an upturn in incoming orders. This is true for both large and small and medium-sized (SME) industry members. However, the large companies are more optimistic than the small ones about the prospects for the economic situation.
Electronics industry and mechanical engineering strongest
In terms of sales, AMA members supplying the electronics industry and those supplying the mechanical engineering sector scored particularly well. Among suppliers to the automotive industry, SMEs performed better than the large AMA members.
Consequences of the Ukraine war affect almost everyone
When asked about the impact of sanctions due to the Ukraine war, 87 percent of AMA members said they were affected.However, AMA members estimate that the share of their own operating performance caused by the embargo is a tolerable seven percent. Since the beginning of the military invasion, however, there have been some high price increases for energy and raw materials, so uncertainty about the economic development of the industry as a whole remains high.
