Connect with us
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Top Stories

Boeing, Northrop to join White House-backed advanced manufacturing program

Boeing, Northrop to join White House-backed advanced manufacturing program

By David Shepardson

WASHINGTON (Reuters) – Boeing Co <BA.N> and Northrop Grumman are joining a White House-backed compact to help smaller U.S.-based suppliers increase the use of 3D printing and other advanced manufacturing technologies.

The voluntary program, unveiled by President Joe Biden in May, seeks to boost suppliers’ use of additive manufacturing (AM).

Driven by 3D printing, the technology allows complex shapes to be built in layers from particles of plastic or metal. The Biden administration views it as an innovation that will enable U.S. manufacturers to flourish and create jobs.

The program, Additive Manufacturing Forward (AM Forward) is organized by non-profit Applied Science & Technology Research Organization of America (ASTRO America).

“The supply chain crisis isn’t just about building out ports. It’s about building up parts – right here in America’s small business factories,” said ASTRO America’s CEO, Neal Orringer.

GE Aviation, Siemens Energy, Raytheon Technologies, Honeywell and Lockheed Martin were the initial companies to make commitments.

The manufacturers say they will purchase additively produced parts from smaller U.S. suppliers; train supplier workers on new additive technologies; provide technical assistance; and engage in standards development and certification.

Boeing and Northrop Grumman both aim to increase the number of small- and medium-sized suppliers competing over quote packages for products using additive manufacturing. Boeing will also aim to increase its qualified small and medium supplier capacity by 30% and provide technical guidance to meet qualification requirements.

“We know the competitiveness of the U.S. industrial base, including Boeing, relies on the capability of a wide spectrum of suppliers producing and post-processing critical aerospace parts,” said Melissa Orme, Boeing’s vice president for additive manufacturing.

Such technologies can reduce part lead times and materials cost by 90%, and cut energy use in half.

The White House says not enough American companies are using 3D printing or other high-performance advanced manufacturing technologies.

A Biden administration official told Reuters the program could expand to the automotive or semiconductor sectors.

(This story refiles to restore missing chevron, paragraph 1)

 

(Reporting by David Shepardson. Editing by Gerry Doyle)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post