Using Expertise as Leverage to Enter New Markets
After many years building its reputation as a precision aerospace supplier, this company chose to use that experience to enter medical machining.
Machining these aerospace components led to the introduction of Swiss turning at JC Machine, which in turn resulted in the company’s entry into medical machining.
As a machine shop develops its skills in a particular market—small components with tight tolerances for aerospace, say—there is sometimes the tendency to simply continue expanding within that niche. One of the biggest dangers of doing so involves creating a lack of market diversification, exposing your company to financial jeopardy should its primary customers begin to slow down production. But there’s also the chance of missing a valuable opportunity: to use knowledge developed in one market to enter a new one based on those existing skills and expertise.
JC Machine Inc. of Lakeland, Florida, achieved both diversification of its customer base, as well as the addition of new business, when it leveraged its experience in aerospace to begin machining medical components. Although the geometries and materials differed, years of machining challenging features, holding tight tolerances, and achieving high-quality surface finishes positioned the company well in both attracting medical customers and meeting their part requirements. Jay Creasy, president, says the company continues to grow the medical side of its business and sees opportunity in a market that’s constantly evolving and requiring new parts.
I had the pleasure of visiting JC Machine recently for an article on medical machining in the current issue of Production Machining. Maybe reading about their experience will help you look more closely at your own operations to identify skills that might support your growth into new areas, as well. Also visit our Medical Machining Zone to learn more.
