The top 10 manufacturing companies in the USA are some of the largest contributors to the country’s employment, GDP, and overall economic development. The manufacturing sector in the USA has long been one of the world’s largest in terms of industrial output — representing over 18.2% of the world’s total goods every year. As the global consumption for manufacturing goods continues to grow significantly, mainly driven by the rising population with higher disposable income, these top 10 manufacturing companies in the USA are expected to achieve bigger success in terms of market share and revenues from both their domestic and international markets, while further strengthening their leadership in the US and the global manufacturing sectors. Here is a detailed breakdown of the top manufacturing companies in the USA including familiar names like Apple, Exxon, Microsoft, and IBM.
First of all, let’s define what a manufacturing company is with examples of manufacturing companies? A manufacturing business is any business that uses components, parts or raw materials to make a finished good. Good examples are Apple, Ford, and GM, and these businesses are pushing the envelope and truly innovating by utilizing advanced technology, innovative approaches to assembly lines, and human skills; but the goal is the same — to create a finished product. The USA is recognized worldwide for having one of the best manufacturing sectors in the world.
Often acknowledged as the backbone of the American economy, the manufacturing sector in the USA covers various types of manufacturing businesses in different industries, including petroleum, steel, automobiles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, and mining. According to recent statistics from the US Bureau of Economic Analysis, the total manufacturing sector in the USA contributed over US$2.25 trillion to the country’s GDP in 2016 and accounted for 11.7% the US economic output and over half of the US export goods. So far, the manufacturing sector in the USA has over 12.5 million employees, representing about 8.5% of the country’s total workforce.
Since most of the manufacturing businesses in the USA are constantly in need of large numbers of skilled workers, raw materials, technologies and logistics infrastructures, the manufacturing businesses are becoming more cost-competitive with offshore locations. Therefore, most of the manufacturing businesses in the USA are now located in major states such as Alabama, Arkansas, California, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, and Wisconsin. This is BizVibe’s list of American manufacturing companies that are dominating their industries in 2018.
ExxonMobil is the world’s largest publicly traded international oil and gas company and among the largest manufacturing countries in the world, based in Irving, Texas, United States. Exxon Mobile is mainly engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacturing, transportation, and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products. The company generated over US$237.1 billion revenue in 2017, leading the chart of the top 10 manufacturing companies in the USA.
Apple Inc. is an American multinational technology company and on the top electronic brands in the world headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. As one of the world’s largest tech company, Apple nowadays has over 123,000 employees and 500 retail stores globally. Apple’s best-selling products include iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, and the Apple TV. In 2017, Apple generated total US$229.2 billion revenue.
General Motors, headquartered in Detroit, is one of the world’s largest automotive manufacturers, it has an existence in over 35 countries globally. General Motors has an annual revenue of more than $52 billion and employs over 180,000 people at almost 400 facilities around the world. GM manufactures around 9 million vehicles every year as of 2017 and has four car manufacturing subsidiaries, GMC, Buick, Cadillac, and Chevrolet. Consistently dominating one of the top manufacturing industries in the US, General Motors is a staple in this list of list of manufacturing companies in the USA.
Ford is one of the world’s top 10 automobile companies. It was established in 1903 by Henry Ford at Dearborn, Michigan, United States. Ford makes many popular car models such as Fiesta, Endeavour, Eco sport, Expedition, Escape, Mustang, Taurus, Focus, and Fusion. This top automobile company in 2018 has an annual production capacity of around 6.7 million cars and employs more than 200,000 personnel. Ford had an estimated annual revenue of almost $150 billion with a net income of around $8 billion in 2017 and owns more than 90 automobile manufacturing plants across the world.
General Electric is one of the world’s largest manufacturing companies. Headquartered in Boston, Massachusetts, the company mainly operates through the following segments: aviation, healthcare, power, renewable energy, digital, additive manufacturing, venture capital and finance, lighting, transportation, and oil and gas. In 2017, GE generated over US$122.1 billion revenue.
Chevron Corporation is an American multinational energy corporation and of the largest manufacturing companies in the US. One of the successor companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries. The Company produces and transports crude oil and natural gas. Chevron also refines, markets, and distributes fuels, as well as is involved in chemical and mining operations, power generation, and energy services. Chevron generated US$141.7 billion revenue in 2017.
Boeing is the world’s largest aerospace company and leading manufacturer of commercial jetliners, defense, space and security systems, and service provider of aftermarket support. As America’s biggest manufacturing exporter, the company supports airlines and U.S. and allied government customers in more than 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.
The Phillips 66 is an American multinational energy company headquartered in Westchase, Houston, Texas. It mainly engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining, Marketing & Specialties and Corporate and Other. Its 2017 revenue reached US$102.4 billion.
Microsoft Corporation is an American multinational technology company with headquarters in Redmond, Washington. It develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and services. The Company’s main products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games; computers; tablets; gaming and entertainment consoles; phones; and other intelligent devices. Its 2017 revenue was about $90 billion.
IBM is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries. The Company engages through five main segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. In 2017, IBM generated over US$79.1 billion in revenue, making it one of the top manufacturing companies in the USA.
The top manufacturing industries in the US is revitalizing, as MAPI Foundation forecasts that the manufacturing sector in the USA is set to increase faster than the general economy. Manufacturing production is expected to grow 3% in 2017 and 2.8% in 2018, and growth will slightly slow down to 2.6% in 2019 and 2.0% in 2020. Meanwhile, President Donald Trump promises to bring jobs back to manufacturing in the USA. He also proposed a tax cut for U.S. manufacturers and higher tariffs for those who build overseas. Under these circumstances, the business opportunities for the top 10 manufacturing companies in the USA are likely to flourish further. Since they are continuously putting significant effort on R&D of technologies and innovations, these largest manufacturing companies in the USA are projected to remain as the industry leaders over the near future.