World trends in the market of mechanical engineering

Abstract

The article analyzes the main trends in the global market of mechanical engineering, in particular, in the branches of agricultural engineering, mechanical engineering for light industry, construction and road engineering, and energy engineering. It also addresses the structure and development trends of the mechanical engineering market by regions, changes in the business environment of the mechanical engineering industry, the impact of the Covid-19 pandemic on the state and development of the global mechanical engineering market, new rules and requirements for manufacturers of mechanical engineering products, and technological innovations and trends. Mechanical engineering companies today are at the epicenter of technological transformation. The mechanical engineering industry creates individual digital capabilities and intelligently combined products. Innovative processes such as related production, forecast service and innovative service models are increasingly used in mechanical engineering. The use of modern digital technologies in mechanical engineering is becoming a necessity that prevents the risks of losing relevance in the market of modern industry. Although the basic principles of mechanical engineering, such as thermodynamics, fluid mechanics and machine design, still remain in force, the latest technologies are contributing to the rapid development of composites, mechatronics and nanotechnology. These new subject areas, which are the result of modern achievements, have become a prerequisite for the development of new and promising industries, including artificial intelligence and biomechatronics. The growing demand for increased production efficiency while minimizing operating costs has led to demand for new and innovative technologies. Based on the study of the introduction of new technologies in mechanical engineering and global trends in the industry, the author substantiates the feasibility of accepting the need for globalization in mechanical engineering as a new norm, taking into account costs, tax consequences, quality and delivery in planning the existing geographical location, supply chains, strategic partnerships; reduction of the general supply cycle for better adaptation to the changing environment; optimization of existing production facilities, automation and attraction of advanced digital technologies for the establishment of work processes; implementation of advanced technologies in mechanical engineering, such as artificial intelligence, Internet of Things, nanoengineering, advanced data analytics, automation of robotic processes, blockchain, robotics, cloud computing augmented reality, 3D printing, drones, 5G, etc.; raising the qualification level of mechanical engineering workers.