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The Titanium Economy

How Industrial Technology Can Create a Better, Faster, Stronger America

Asutosh Padhi, Gaurav Batra and Nick Santhanam

Public Affairs, 2022

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The industrial sector in the United States is undergoing a technology-driven revival. This manufacturing renaissance spans diverse industries that share a sharp business focus and an appetite for innovation. McKinsey authors Asutosh Padhi, Gaurav Batra and Nick Santhanam call this sector the “Titanium Economy” because of the resilience of its tech-savvy manufacturers. These companies, which are creating specialized products to feed global demand, are bringing prosperity to communities across the country – but they face challenges, such as labor shortages and a lack of national investment. The authors see the Titanium Economy as a crucial US cog in the ongoing Fourth Industrial Revolution and urge policymakers to support it with training and better infrastructure.

Summary

The high-tech industrial technology sector – coined the “Titanium Economy” – is driving an industrial revival in formerly dormant US manufacturing regions.

Determined entrepreneurs are taking advantage of technological advances and market opportunities to spark a renaissance in previously defunct industrial zones across the United States.

Most of the companies that make up the Titanium Economy don’t market directly to consumers, yet their innovations touch nearly every aspect of modern life. For example, Qorvo manufactures an essential mobile phone part on a uniquely large scale. Trex turns used plastic bags into construction materials. Sealed Air replaces plastic packaging with biodegradable packaging that keeps food hot or cold.

Families own and run many Titanium-Economy enterprises, but being family-owned and operated doesn’t limit these firms. The best of them maintain nurturing workplace cultures, honor agile decision-making and adopt innovations. For example, to retain younger workers, family-run Dot Foods invested in robotic equipment to perform repetitive tasks and free up employees to do more meaningful...

About the Authors

Asutosh Padhi is McKinsey’s managing partner for North America. Gaurav Batra is CEO and president of Ayna.AI. Nick Santhanam is CEO and president of Fernweh Group.

The Titanium Economy

How Industrial Technology Can Create a Better, Faster, Stronger America

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Summary

The high-tech industrial technology sector – coined the “Titanium Economy” – is driving an industrial revival in formerly dormant US manufacturing regions.

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