Optical and precision engineering in Germany
The world is growing extremely fast and with every passing day new demands and technologies are developing and it is giving hope for new industries. The precision engineering and optics industry has emerged as one of the most important industries in the German industrial sector. With their extraordinary terms of growth and future prospects these industries are offering promising career to the youth. These industries are medium-sized but with the extreme demand it alone gives employment to about 213,000 people in more than 900 companies. The products manufactured in these industries have a wide scope; they are used in various other industries like IT, electronics or the health sectors. The high rate of growth of the precision engineering and optic industry is evident with its clearly visible figures: in the year 2011, with respect to the previous year, the industry yielded overall revenue of €47 billion with an increase of 14 percent.
German products have the superior build quality and finishing. They are in demand worldwide, in the year 2011, more than 62 percent of precision and optical engineering product and technologies were exported. In the present time USA and China are emerging as the most important export market other than European Union, along with US and China, Russia and India too are gaining importance swiftly. One of the main reasons behind the very quick growth and high demand of precision engineering and optics industry is that it is being highly innovative. The precision engineering and optic industry includes a large number of branches like medical technology and optical technologies. With their present growth the optical technologies particularly will increase their revenue by more than 16 percent in 2011.
The field of optical industry is quite wide including technologies such as optoelectronics, laser technology, digital imaging or measuring technology and optical communications. These industries are having a large amount invested in the research and development, along with close cooperation between large enterprises, research institutions and LMEs. Hence, the experts in the optical technology expect above-average growth in this industry in the future. The optics industry presently gives employment to 135,000 workers and expects to create 20,000 jobs by 2020.
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