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The precision instruments industry, SIC Group 38, includes companies that manufacture instruments for measuring, testing, analyzing, and controlling, and their associated sensors and accessories. The industry covers the manufacture of a wide variety of devices, such as optical instruments and lenses; surveying and drafting instruments; meteorological and geophysical equipment; guidance systems; surgical, medical, and dental instruments; ophthalmic goods; photographic equipment and supplies; and watches and clocks. The industry makes navigation equipment for military and aerospace clients, laboratory equipment and measuring instruments for the scientific community, and surgical equipment for the medical industry.
Industry Overview
The industry serves a diverse range of clients. Precision instruments are not only made for industries ranging from medical to meteorological, but also for individual consumers who buy such industry goods as watches, cameras, and film.
Spending on precision instruments from manufacturers and other...