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Caterpillar Inc., the maker of heavy construction and mining equipment, today reported a sharply lower third-quarter profit as demand for the company’s products dropped.

Peter Drucker, known as the father of modern management, was quoted in a 2006 article in Forbes as saying, “Because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.”

Your father’s Oldsmobile may be long gone but his B-52 is still pulling missions, and they haven’t built the “BUFF” (Big Ugly Fat Fellow) since 1962. The last KC-135 tanker was built in 1965. Besides aging warbirds (the average plane in the US Air Force is over 28 years old) there are hundreds of ancient civilian airliners carrying friendlier payloads everyday. The key to doing this safely is of course excellent maintenance and periodic upgrades. Laser scanning plays an essential role.

In addition to carbide, ceramics, and cermet, the drive to create the hardest possible cutting tool materials has given us the alphabet soup of PCD, PCBN, CVD-D, and MCD (polycrystalline diamond, polycrystalline cubic boron nitride, chemical vapor deposition diamond, and mono-crystalline diamond, respectively).

Strong 2016 earnings among top industrial laser providers, continued brisk adoption of fiber lasers, cheaper ultrafast lasers, and a host of novel applications and notable corporate acquisitions signal a big year ahead for photonics-based manufacturing.

Additive manufacturing is both growing and coping with growing pains. Companies “have to find ways to streamline” polishing and other finishing processes of 3D printed parts, industry consultant Terry Wohlers said today during a speech at RAPID + TCT.

Secure, accurate workholding sets the stage for consistent machining productivity. Depending on the parts and processes involved, workholding can be as simple and temporary as a plain vise or clamp or as complex and permanent as a machined and fabricated fixture that is custom-designed to hold a unique part.

When first introduced in the late 1970s, cutting tool coatings—especially titanium nitride (TiN)—were embraced by tool manufacturers for their ability to extend tool life. As workforce materials have expanded from conventional ferrous and nonferrous metals to exotic alloys, composites, ceramics, and others, coatings have likewise progressed and, thanks to new formulations and deposition methods, are extending cutting tool capabilities as well as tool life.

Manufacturing Engineering asked thought leaders at five companies for their views on challenges and trends facing the metalworking industry.

Although laser welding is a well-established manufacturing solution, many sheetmetal fabricators have been hesitant to implement the process at their shop.