Analysis
NAICS 332721 is the 2022 national industry for precision turned product manufacturing, part of 33272 (Turned Product and Screw, Nut, and Bolt Manufacturing). Census lists 1 example activities under it in the official index.
County Business Patterns counts 3,897 US establishments in this code in 2023, employing 102,699 people at an average annual payroll of $62,880 per employee (39th percentile of national industries). 25% of the establishments have fewer than five employees, which points to larger operations.
By establishments it ranks 1st of the 2 codes at this level within Turned Product and Screw, Nut, and Bolt Manufacturing, with 84.4% of them.
For example, manufacturing metal bolts, nuts, screws, rivets, washers, and other industrial fasteners using machines, such as headers, threaders, and nut forming machines are classified in 332722 (Bolt, Nut, Screw, Rivet, and Washer Manufacturing) instead.
Between 2018 and 2023 the number of establishments fell 6% and employment fell 6%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
Census lists 2 related activities that belong elsewhere, most often in 332722 and 332710. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Official definition
This U.S. industry comprises establishments known as precision turned manufacturers primarily engaged in machining precision products of all materials on a job or order basis. Generally precision turned product jobs are large volume using machines, such as automatic screw machines, rotary transfer machines, computer numerically controlled (CNC) lathes, or turning centers.
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Manufacturing metal bolts, nuts, screws, rivets, washers, and other industrial fasteners using machines, such as headers, threaders, and nut forming machines | 332722 Bolt, Nut, Screw, Rivet, and Washer Manufacturing |
| Machining parts, known as machine shops | 332710 Machine Shops |
Index entries (1)
- Precision turned product manufacturing