Capital goods jobs are available across the country, from large metropolitan areas to smaller towns. The industry offers many types of work, from entry-level to highly skilled positions. It is one of the economy’s largest sectors, employs millions of people, and will reach a production value of $100 billion in the US by 2025.
The capital goods industry comprises companies that manufacture equipment and machinery for other businesses. The growth of these industries has increased demand for employees who can fill positions ranging from entry-level production workers to highly skilled technicians and managers.
There are many opportunities within this field for those interested in pursuing a career in engineering or technology services, industrial machinery, aerospace and defense, automotive manufacturing, or building construction materials, to name a few.
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What are capital goods?
Capital goods are products businesses need to produce consumer products. They include machines and tools used in manufacturing, computers, and equipment for operations. They are crucial for the economy to produce various goods. For example, an automobile requires many types of capital goods. Steel is essential to a car frame. Another capital good example is plastic for seat manufacturing.
If you want to work in capital goods, you can look for positions at manufacturers or retailers of products such as automobiles, airplanes, electronic components, and industrial machinery. Companies need people who can repair and maintain these machines and others to design them.
Capital goods industries
Capital goods are a broad category that covers many different industries. For example, the capital goods sector includes manufacturers of computers, medical equipment and supplies, communications equipment, aerospace products, automotive parts and vehicles, agricultural machinery, construction and mining equipment and tools, and more.
The capital goods industry includes companies that make products like aircraft engines and industrial robotics. It also provides services like freight transportation and telecommunications infrastructure management.
Major industries within the capital goods sector include:
- Chemical production
- Construction and mining
- Financial services
- General Industrial
Each of these industries has a different number of jobs available in it. For example, employment in moving machinery operators is projected to grow by 7% over the next decade. In comparison, transportation equipment is expected to grow 6% during that period.
Types of jobs available in capital goods
In terms of jobs available in the capital goods industry, there are many opportunities. This industry is full of skilled workers looking to make a career out of their passions and interests. The sector includes many jobs, from administrative and maintenance positions to management and executive roles. In addition, the manufacturing industry produces goods used in other sectors (like cars, appliances, or machinery).
Some careers paths in capital goods include:
- Management/executive leadership
- Mechanical/electrical/systems engineer
- Real estate
- Urban planning
- Web development
- And more
There are over 1,000 different occupations to choose from within the capital goods sector. There are many jobs in the capital goods industry, including accountants, managers, salespeople, engineers, and administrators.
Occupational outlook in capital goods
For instance, if you’re looking to enter the business world, you could pursue a career as an accountant or financial analyst. These entry-level positions require an undergraduate degree and often some training after working at a company for a few years. You’ll probably also need experience with accounting software.
But if you’re interested in working on the production side of things and building things, there are options too. There’s mechanical engineering, which requires math and physics training; industrial engineering, which is more focused on efficiency, safety standards, and logistics; and aerospace engineering (the most prestigious option). To work as an aerospace engineer requires advanced degrees.
Over 4% of the US workforce has an occupation in sales, or over 13 million people. A capital goods salesperson sells directly to businesses via telephone or online storefront. They may specialize in one type of capital good or sell multiple types if they have experience and expertise in each area. Salespeople must communicate well with customers while also analyzing their needs and explaining how their products can meet those needs effectively.
Computer hardware engineer
A computer hardware engineer in capital goods requires someone who can handle hardware and software. A computer hardware engineer can improve the design of computer products or create new products altogether. The main focus is to ensure that any new technology is compatible with existing systems and to develop new ways of making computers work better. Projected job growth by 2031 is 5% for the current 76,000 positions.
Industrial engineering jobs are predicted to grow fast, average at 10% over the next decade. Currently, over 300,000 jobs. An industrial engineer is someone who plans how factories operate. They help companies ensure efficient production processes to get enough products out without wasting materials or time.
Production managers oversee all production activities at an organization, including planning and scheduling production processes, training workers, and ensuring they follow safety regulations while working. Currently, there are over 200,000 jobs in the field but projected job growth is slower than average at 3%.
The job of a logistician is one of the most in-demand jobs in capital goods, with projected 28% growth over the next ten years. Already, there are nearly 200,000 positions in the field. Logisticians coordinate, manage, and control materials and information within an organization. They manage the processes before and after manufacturing a product to ensure it gets to its intended destination on time.
Capital goods is a broad term for products used to produce other goods. It includes raw materials, machinery and equipment, and industrial buildings. Because of the range of products involved, capital goods industries employ many different types of workers across various career paths.
The growth of these industries has increased demand for employees who can fill positions ranging from entry-level production workers to highly skilled technicians and managers. Many options are available if you’re interested in working with capital goods.