What Companies Are In The Capital Goods Field?
by Soumava Goswami Job & Career 20 April 2023
What companies are in the capital goods field? – There are many companies that are in the field of capital goods. Capital goods are basically that businesses make use of to create other goods. These goods might include tools, machinery, vehicles, and other goods. To know in detail about capital goods, you will need to read the upcoming sections of this article.
However, in this article, we will only give you information about some of the best and most popular companies that have a significant presence in the capital goods field. We will only talk about companies based in the United States. Hence to get fully informed about some of the most popular companies in the capital goods field, read on through to the end of the article.
What Is Meant By Capital Goods?
Capital goods are the ones that businesses use to make other products or develop other services. The resultant products will also be used by the final consumers. The companies in the capital goods industry, hence, make goods that are to be used by manufacturers to create an end product, which is to be consumed by the customers. Furthermore, there are even companies that create their own capital goods to make use of them to create final products.
Is A Job In The Capital Goods Industry Good Enough?
The capital goods field has many opportunities for people who want to contribute to the field. There are basically a variety of jobs available. However, the jobs available are different based on the skills that you have. It does not matter whether you are a fresher or a seasoned professional. If you have the necessary skills, you can have unique opportunities in the capital goods field.
To work in the capital goods industry, you will need to possess the right types of skills required for a particular position. According to Indeed.com, “As you gain knowledge, skills and experience, there are often many opportunities for you to progress in the company or industry where you work. For example, you may begin your career in entry-level manufacturing positions, then be provided with opportunities to move to supervisory and management roles within the company.”
If you are interested in working in a technical area of the capital goods field, you will probably need a technical skill, for an engineering degree, based on the type of work. Furthermore, if you want to join the business aspects, you will need to have a business degree. Most of the jobs in the capital goods field provide on-job training. Hence, it is possible for a candidate with little to no experience to join a capital goods company.
What Companies Are In The Capital Goods Field?
There are many companies in the United States that offer capital goods. However, there are a few in particular that dominate the capital goods market. This is because they produce high-quality products and items that have a major impact on the economy. Apart from that, the products offered by these companies are of a wide range, ranging from tools, machinery, construction equipment pieces, office supplies, and many more.
The following ones are the most popular capital goods companies and industry leaders that are important to know before you look to join the capital goods field:
1. General Electric
General Electric is one of the most popular capital goods companies. According to Global Data’s website, “The company offers a wide range of products and services, ranging from aircraft engines and systems, healthcare systems and pharmaceutical diagnostics, power generation, and oil and gas production equipment to medical imaging, financing, and industrial products.”
2. Union Pacific
They are one of the biggest transportation and logistics companies and are considered to be one of the big players in the capital goods field. According to the official website of Union Pacific, “At Union Pacific Railroad, we’re prepared to ship just about anything: food, forest products, automobiles, agricultural products, coal and chemicals – safely and on time.”
3. Northrop Grumman
They are the builders of some of the most advanced products required in industry and transportation. These include creating cutting-edge aircraft as well as next-generation spacecraft. In addition to that, the company also offers cybersecurity systems and also radar systems. They claim to have 95,000 employees all over the world.
4. Caterpillar
According to Caterpillar’s official website, “Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.” Hence, it is one of the big names in the construction industry, energy industry, and resource industry. They also offer financial services.
5. Honeywell International
This company produces different products that are required in different industries, including automotive, industrial, aerospace, chemical, etc. Apart from that, Honeywell International also produces various automotive products, engineered materials, and tools. They also have a significant presence in providing tools and services in construction, performance material, and safety equipment.
6. Ford Motor
This is one of the most popular automobile manufacturers in the world. It sells commercial vehicles as well as sports vehicles. The company was founded by Henry Ford. Although it has a significant presence in the United States, it is also located in many countries worldwide.
7. Lockheed Martin
This company provides security services and software necessary to create advanced technology systems, design, and these help in better research and development as well. The company works in some of the biggest business segments, including Information Systems, Electronic Systems, Global Services, and Aeronautics.
Summing Up
What companies are in the capital goods field? – Hope you have found this list and information helpful enough to answer this question. Hence, if you are looking to join a top capital goods company, make sure to have the required skill necessary for the job you are applying for. Once you possess the right skills, with the right drive and patience, you will be able to achieve a lot in any of these major capital goods companies. What do you think are the necessary skills required to join the capital goods field? Share your opinions in the comments below.
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