How Many Jobs Are Available In Capital Goods

Do you really want to begin a career in the capital goods and currently searching for how many jobs are available in capital goods; we’ve prepared this article to answer your query, we’ll be revealing to you the most sought-after position in capital goods and also the amount of available jobs presently available in the industry.

This would help you make a right decision about the specific job you would be wiling to venture into in the capital goods, which would end up been rewarding and high paying. 

Related: Best Paying Jobs In Energy

Before diving deep into our reason of been here to figure out how many jobs are available in capital goods let’s answer some frequently asked questions about the capital goods industry.

What are Capital Goods?

Capital goods are long-lasting goods that are used for the production of other goods. Examples of capital goods include; machinery, buildings, and vehicles. The term basically refers to long-lasting valuable assets that are used in producing goods or services. 

Capital goods are purchased with the sole aim of making profit of it unlike the consumer goods that is purchased with the sole aim of consumption.

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Capital goods can be purchased by individuals, organizations or even by government agencies.

What is Capital Goods Industry?

Capital goods industry includes manufacturing industries that produce physical equipment, such as computers and paper products. These manufacturers need machinery and tools to make their products. Since capital goods are important to other businesses, economists keep a close eye on new orders for these items.

Important: What Companies Are In Capital Goods Field?

Capital goods industry is a major booster of the economy, economic growth is higher when demand for capital goods increases, because businesses can hire more workers to meet increased production demands. Businesses also buy new equipment in order to produce more finished products per hour of labor or lower costs on a per-unit basis. When business investment in these types of assets drops, it often indicates that people are fearful about economic conditions since they are willing to purchase fewer vehicles, homes or industrial buildings than they otherwise would have.

Examples of capital goods

1.Machinery : This includes all types of machine used in factories, examples are; lathes, drill presses, injection molding and cutting machines.

2.Tools: these are hand tools or power tools that are used to create or work on products.

3. Equipment: This includes items like cranes, forklifts and conveyor belts.

4.Vehicles: Any thing that is used to convey materials either raw materials or finished products from one point to another. This includes cars, trucks and buses. 

5. Buildings: This includes office building, warehouse and factories.

There are wide varieties of capitals goods used in different industries for the sole aim of producing goods to satisfy the wants of man. Each one of these has its own set of skills and knowledge required to perform the job correctly.

Major sector in Capital Goods

Before inquiring on how many jobs are available in capital goods you should first know the major sectors in capital goods.

The capital goods industry is comprised of different sectors which include; 

1. Construction: the construction sector comprises of organisations that take part in building houses, roads, bridges and other type of structures.

2. Transportation: The transportation sector contains business that produces and sells vehicle, aircraft, trains, boats and other forms of transportation.

3. Aerospace: The Aerospace sector includes business that produce and sell aircraft, spacecraft and related products and services

4. Defense: This defense sector includes businesses that produces and sell military equipment, weapons and other products and services.

Companies Under Capital Goods

There are many companies in the capital goods field and some of the largest companies in the capital goods include: .

1.Boeing: Boeing is a leading aerospace company with business in commercial and military aviation. They specialize mostly in building and maintaining aircrafts.

2. Lockheed Martin: Lockheed martin is a leading defense contractor with business in aerospace, information technology and engineering.

3.Caterpillar: Caterpillar is a top manufacturer of construction and mining equipment

4. General Electric: General Electric is a large company with business in a number of different industries transportation, healthcare and power generation.

Why Is the Capital Goods Important?

Capital goods is a major driver of the economy, as the economy of a country expands more capital goods, machinery and equipments are needed to match the demand of the growing population.

An economy with high percentage of employment in industries producing capital goods generally indicates that it has made significant advances in technology and manufacturing capabilities. Governments prefer such economies because they have potential for increased exports and trade. They also have greater earning potential on imports since they can make use of these foreign products in domestic manufacturing processes to create additional value added. This not only enhances economic growth but also creates jobs for citizens.

How Many Jobs Are Available In Capital Goods

These are list of jobs that are available in capital goods.

1.Engineering Manager

As an engineering manager, your primary duty would be to ensure that all goods which are produced meets all safety and quality standards.

You would be in charge of managing a team of engineers, you would also oversee the design and development of new products.

The average salaries of engineering managers is $132,000 annually, it can rise above the value depding on the company and your experience. 

2. Senior Design Engineer

A senior design engineer is responsible for the design and development of new products, you would also ensure that all products meet all safety and quality standards.

The salaryforba senior design engineer is $110,000 per year.

3. Manufacturing Engineer

 As a manufacturing engineer, you will be responsible for the planning and execution of manufacturing processes. You will also be responsible for ensuring that all products meet all safety and quality standards.

The annual salary for manufacturing engineer is $103,000.

4. Sales Engineer:

As a sales engineer, you would be responsible for selling products and services to customers. You will be responsible for providing support to customers and solving any problems that they may have.

Best Paying Jobs In Capital Goods

These are also among the best paying jobs in capital goods that are currently available.

• Engineering Manager
• Senior Design Engineer
• Manufacturing Engineer
• Sales Engineer

Conclusion

The economy of world is growing radically and more capital goods are needed to facilitate the growth, the U.S economy is no different from the economy of the world, several industries have experienced a spike in growth and top companies are interested in hiring people with expereince, and in some industries, there is a large demand for workers with particular skills. 

The best way to approach such spike is to know where the demand is coming from and this article on How Many Jobs Are Available In Capital Goods would be a perfect guide for you to choose your a perfect career.

Next, look at the current state of job openings to determine if there is a gap in the sector that could be filled by people with your skill set.

If you are interested in a certain industry, look in the phone book and the yellow pages for listings of manufacturers. You can also use the Capital Goods Career Board to help you find opportunities.