Restructuring Precision Engineering Industry in Hungary
Precision engineering products are widely used: basically in all industrial sectors, as well as in public and private services, such as health care, education, energy and telecommunication networks, military and environmental protection. These wide-ranging applications suggest that there is a strong demand for precision engineering products in a healthy economy. Measuring, monitoring and controlling instruments are needed to reduce costs and improve product quality. Thus companies striving to enhance their productivity and competitiveness apply more and more sophisticated precision instruments. Ageing populations, a major concern all over the world for national health care systems, boost the demand for medical equipment. Environmental issues are also gaining importance, and there is increasing pressure to install measuring and analysis instruments to investigate harmful effects on man, animals, plants, soil, air and food. Thus precision engineering has enjoyed increasing demand in the advanced economies and production and employment have shown a more or less steady growth in all the three major economic regions of the world (Table 13.1).
KeywordsForeign Direct Investment Domestic Market Precision Engineering Hard Currency Foreign Supplier
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