The capital goods industry refers to companies that produce physical assets like factories, power plants, and other large buildings that produce products for sale. There are many jobs available in the capital goods industry. The number of jobs available in this sector has increased significantly over the past few decades.
Most of the best-paying jobs available in capital goods require technical skills. And due to its high economic demand, many jobs are available in capital goods. For example, you can get a capital goods job modeling production processes and programming software for a factory if you have computing skills.
The global demand for capital goods is increasing. According to the Bureau of Labor Statistics, the industry will grow by 6 percent between 2016 and 2026, which is a considerable growth compared to other occupations! If you’re looking for a career with plenty of room for advancement, consider pursuing a job in capital goods.
This article will examine what jobs are available and you can secure a seat in this industry.
What are Capital Goods?
Capital goods are physical goods used in producing other goods rather than being bought by consumers. Capital goods could be fixed assets like buildings, machines, equipment, vehicles, and tools.
They also enable businesses to increase productivity and efficiency, leading to higher profits and a more robust economy.
How Many Jobs Are Available in Capital Goods?
There are approximately 1.3 million jobs today in the capital goods industry, and only about 150,000 requires labor; this means people have considerable opportunities to fill up the remaining space. Capital Goods jobs can be grouped into two industries.
#1. White-collar Jobs In the Capital Goods Industry
This comprises of:
- Financial controller
- Industrial architect
- Computer programmer
#2. Blue-collar Jobs In the Capital Goods Industry
- Production worker
- Quality control manager
- Vehicle drivers
What Companies are In the Capital Goods Field?
There are so many companies in the capital goods field, which include:
- The Boeing Company
- Airbus Group SA
- Bombardier Inc.
- Dassault Aviation
- Toyota Motor Corp.
- Ford Motor Co.
- General Motors
- Porsche AG
- Siemens AG
- General Motor’s
- General Electric
#3 Aerospace companies
- Lockheed Martin Corporation
- Boeing Company
Are Capital Goods a Good Career Path?
Capital goods are a great career path for enthusiasts; many positions are in high demand, especially for those who love building or those just looking to make decent money. The market for capital goods is vast, and if you’re willing to do the work, you can find a job quickly.
What Are The Best Paying Jobs In Capital Goods?
- Engineering Managers: The average Engineering Manager’s salary in the United States is $139,105 as of May 27, 2022, making this one of the best-paying jobs in capital goods.
- Manufacturing Engineer: The average salary for Manufacturing Engineers, as reported by Payscale, is $72,526/year.
- Senior Mechanical Engineer: The annual salary of a senior mechanical engineer might be more than $200,000 in some cases. Career opportunities in mechanical and electrical engineering are consistently ranked among the top-paid jobs in the world.
- Electrical Engineer: A yearly salary of $78,206 is considered the norm for electrical engineers.
- Quality Control Manager: In the United States, an annual wage of $72,175 is considered the norm for the quality control manager position, making this one of the best-paying jobs in capital goods.
- Research And Development Manager: As of May 27, 2022, the normal compensation range for a Research and Development Manager in the United States is between $127,242 and $167,844; however, the average income for this position is $146,091 per year.
What Are The Main Categories Of Capital Goods
- Physical Capital Goods: Physical capital goods are buildings, vehicles, and other structures.
- Intangible Capital Goods: Intangible capital goods include patents, copyrights, trademarks, brands, and software. These intangible assets cannot be seen with the naked eye.
Examples of Capital Goods
Here are a few illustrations of the capital goods utilized in various industries.
- Machinery encompasses various factory machines, such as drilling presses and lathes or injection molding machines.
- Tools They are hand or power tools used to make or modify products.
- Equipment: This covers things like forklifts, cranes, and conveyor belts.
- Vehicles: This covers cars, buses, trucks, and cars.
- Buildings: This covers warehouses, office buildings, and factories. As you will see, many kinds of capital goods are used in various sectors. Each comes with capabilities and the necessary knowledge to do the job properly.
What are the main sectors that comprise Capital Goods Industry?
The capital goods sector is a key part of the economy, providing the equipment and infrastructure businesses need. The main industries in the capital goods sector are
- Transportation Industries
- Communications Industries
- Construction Industries
- Manufacturing Industries
- Energy Industries
Why Is Capital Goods an Appealing Industry?
- The industry includes well-known companies that have been around for decades—like General Electric, Caterpillar, and John Deere—and are considered stable.
- The industry has many entry-level jobs, so it’s a great place to start a career and receive on-the-job training.
- The industry has been growing and is expected to add more jobs in the coming years, as we’ll explore in detail in the next section.
What Is the Average Salary of a Capital Goods Worker?
The average salary for workers in the capital goods industry varies by location, experience, and job title. In 2017, a new engineer with five years of experience earned $64,000, while a sales representative with the same experience made $85,000. As a field that relies heavily on machines and equipment to create products, capital goods jobs often require an aptitude in mathematics, physics, engineering, and machinery. Regardless of your skills, there are plenty of opportunities to grow within this industry.
How to Find A Job In Capital Goods
Here are the best websites to find Capital goods jobs in the USA
Summary: How Many Jobs Are Available in Capital Goods?
There are numerous jobs to be found in the field of capital goods. Suppose you have the proper education and experience. In that case, Whether you’re looking for a position in management, engineering, or sales, there is sure to be a perfect role people will be able to find work suitable for their skills. There are numerous opportunities for advancement and growth in this field, which is why pursuing an ongoing career is a great option. If you want to work in this sector, look up the websites of firms that manufacture capital products.
Capital Goods: FAQ
Capital goods jobs are white-collar or blue-collar jobs in capital goods industries. Financial controllers and truck drivers are examples of capital goods jobs.
Capital goods are a great career path for enthusiasts; many positions are in high demand, especially for those who love building or those just looking to make decent money.
Any company producing goods other than raw materials is involved in the capital goods industry.
The capital goods, or industrials sector, is a collection of companies that manufacture or distribute goods. The group of companies includes firms in the aerospace and defense, construction, and engineering sectors.
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