If you’re wondering what companies are in the capital goods field, there are many corporate names that you may not remember. This is likely because the capital goods industry is defined by organizations that make commodities sold to other businesses—rather than directly to consumers.
For example, John Deere and Caterpillar are two prominent and well-known capital goods manufacturers who both create heavy machinery that is widely used in the agriculture and construction sectors. A company falls into the capital goods category if it produces a good that helps another business provide a service to a client. Capital goods producers include those who build cars for taxi companies or even those who make hair shears for a hair salon. Let’s take a look at the top 12 from within this industry.
Job Opportunities in Capital Goods
So, how many jobs are available in capital goods? The capital goods industry has a lot of different sectors, and the majority of businesses have internal marketing, legal, IT, and many other departments. As a result, there are a lot of employment openings in this industry.
How Much Money Could You Make?
What do capital goods jobs pay? Well, you can make an average of $50,000 to $90,000 per year depending on your degree, talents, and experience. For instance, in accordance with Salary.com statistics, an Engineering Manager here in the United States could expect to comfortably make between $123,330 and $155,054 per year.
Is Capital Goods a Good Career Path?
For many people, a career in capital goods is excellent, especially if you’re interested in manufacturing and finding solutions for other companies challenges. It is not necessarily as steady as other fields, though. While capital goods are necessary for other industries to operate (a car maker cannot create automobiles without the necessary machinery), they are also very reliant on the global economy and supply chain. Although there will always be a need for capital goods, the industry’s expansion may change based on supply and demand.
United Rentals, Inc. was founded in 1997 and is headquartered there. It operates in the construction and facilities management industries and specializes in offering equipment rental services. This is the world’s largest equipment rental company. Construction, heavy equipment, and industrial vehicle rentals are offered by United Rental. Its clients include residential customers, utility companies, municipal governments, and construction companies; they offer both new and used machinery and vehicles.
Union Pacific is a business in the transportation and logistics sector that manufactures chemicals, coal, agricultural products, automotive products, and intermodal items. The company was founded in 1862. The corporation runs routes from all significant ports on the West Coast and Gulf Coast up to eastern gateways, connecting 23 of the nation’s states in two-thirds of the Western United States. About 10,000 people are served by Union Pacific, which also connects to the train networks in Mexico and Canada. The corporation has annual revenues of nearly $10 billion.
Caterpillar Inc., usually known as Caterpillar or CAT, is a construction company that was established in 1925. The principal fields of development and manufacturing for mining and construction equipment by the company are gas turbines, diesel-electric locomotives, and gas engines.
CAT keeps offices and facilities in more than 180 countries and on every continent. Its three primary market groups are the building, resource, energy, and transportation industries, which collectively bring in around $40 billion a year. Additionally, it provides equipment for paving, drilling, hydraulics, and other jobs.
Lockheed Martin is an aerospace and defense business. Lockheed Martin was founded in 1995 and is headquartered in Maryland. In 2021, Lockheed Martin generated $67 billion in revenue. They produce a wide range of items, including fire control, aeronautics, rotary and mission systems, and missiles. Strike weapons, air missiles, and fire detectors are three of Lockheed Martin’s main product categories.
In the manufacturing industry, General Electric, commonly referred to as “GE,” was founded in 1892. GE, which has locations in Boston and New York, offers services to a number of sectors, including aviation, power, renewable energy, and health care. On top of this, the company specializes in producing a variety of products, including electric motors, weaponry, software, wind turbines, and aircraft engines. GE generates more than $10 billion in annual revenue.
Northrop Grumman is an aerospace and defense company that was established in 1939. The company specializes in creating military aircraft, aerial vehicles, ammunition, satellites, rocket launchers, stealth bombers, electronic systems, and other products for land and space defense.
Among the industries, Northrop Grumman works in are aerospace systems, military systems, mission systems, space systems, and others. There are numerous U.S. headquarters for each of these sectors. This company works to continuously improve and swap out existing products while also creating new military goods.
In the manufacturing sector, Honeywell International, also known simply as Honeywell, was established in 1885. The aerospace, automotive, chemical, and industrial control industries are just a few of the industries in which this organization excels. Typically, Honeywell makes engineered materials, polymers, specialized chemicals, automotive goods, and more. The company’s annual revenue exceeds $32 million.
Boeing is an aerospace and defense corporation that was established in 1916. The largest aerospace firm in the world is divided into three distinct business divisions: commercial aircraft, global services, and defense, space, and security. In 150 different nations, Boeing exclusively provides aircraft services, most often for allies of the US. The organization, which generates over $58 million in revenue annually, also provides other services such as launch systems, electronic defense systems, commercial and military aircraft, satellites in orbit, and weaponry.
The Ford Motor Company is an American automaker with global operations based in Dearborn, Michigan. In 1903, the company was founded by Henry Ford, an engineer by nature. Ford’s career as an engineer began in 1890 with the Detroit Edison Company. In 1896, he sold a gasoline buggy to collect money for the development of a new automobile. In his spare time, Ford developed test gasoline engines. Executives at the Detroit Edison Company thought his hobby was taking time away from his regular duties. In 1899, Ford was forced to resign from his position as head engineer. Since then the company has gone on to become one of the biggest car producers on the planet.
As a reputable aerospace and defense firm, Raytheon continues to serve as a defense contractor for the United States government, supplying weapons and defense systems. But Raytheon also works in the aerospace and space industries; in fact, their subsidiary Collins Aerospace created the space suits that are currently utilized on the International Space Station, making them an interesting and forward-thinking business that attracts a lot of job seekers. Jobs at Raytheon are available in a variety of fields, including engineering, finance, human resources, and more. Forbes named Raytheon one of America’s Best Large Employers.
ABB Limited, also known simply as ABB, was established in 1898 and operates in the energy, mining, and utility sectors. The company specializes in manufacturing circuit breakers, switches, cable systems, control devices, and other electronic equipment. Additionally, the business provides installation and maintenance services for its own systems. The corporation has its headquarters in North Carolina and the United States is its biggest market for its products. The annual revenue of this business exceeds $26 million.
Founded in 1902, 3M is a business that specializes in designing and producing a range of consumer items. A Minnesota-based corporation, it specializes in manufacturing adhesives, laminates, abrasives, window films, paint protection films, and other products. The company’s portfolio currently numbers over 60,000 goods. Additionally, it manufactures goods for the dental and orthodontic industries as well as medical, automotive, electronics, and software for the healthcare industry. More than 87 different nations have 3M offices.
Worthy of a Mention
Beyond the top 12, these companies continue to rank highly within their own industries:
The technology corporation Siemens specializes in products for transportation, infrastructure, and healthcare. Siemens, which claims to “create and implement approximately 7,600 ideas” each year, focuses more on abstract commodities than many of the aforementioned businesses, such as artificial intelligence, cybersecurity, and smart buildings. Siemens provides global professional opportunities for those who want to change the world and do so through their job role.
Deere & Company
The agriculture industry, which employs the most people in the country, has undergone a transformation because of John Deere’s farming equipment. Look no further than Deere & Co. if you want to work for a company that actually addresses food and fuel issues. For job seekers in the middle of their careers, John Deere provides promotion chances, and it also has training programs for technicians. Regardless of where you are in your career, Deere & Co. may have a position for you.
This is just a small sample of the businesses that make capital goods; as this market encompasses all companies that manufacture things for other companies, there are a huge variety of opportunities available. You have a wide range of work alternatives to pick from, regardless of where you are in your career.
Beyond the broad range of positions available, the capital goods industry also appeals to job seekers who want to advance their careers inside a particular business or organization. If you’re searching for a job to help you learn and improve, this can be a wonderful field for you to consider. The majority of capital goods firms offer on-the-job training as well as programs to support further education for their employees.