U.S. Heavy Manufacturing Set for More than $11 Billion in 4Q Kickoffs

Industrial Info is tracking more than $11 billion worth of projects in the U.S. heavy-manufacturing sector set to begin construction in the fourth quarter, including two major projects involving Cummins Incorporated (NYSE:CMI) (Columbus, Indiana). The heavy-manufacturing sector serves a variety of industrial markets, including those for storage batteries and aircraft components.

Cummins provides engine and power-system products for markets across the globe.

The highest-valued project is attributed to a joint venture (“Amplify Cell Technologies”) featuring Cummins’ Accelera business--which develops zero-emissions solutions across multiple industries--as well as Daimler Trucks & Buses (Leinfelden-Echterdingen, Germany), and PACCAR (NASDAQ:PCAR) (Bellevue, Washington).

The joint venture held a groundbreaking ceremony on July 1 for its 2 million-square-foot manufacturing plant in Byhalia, Mississippi, which aims to produce 21 gigawatt-hours’ worth of lithium-iron-phosphate (LFP) battery cells for electric commercial vehicles and industrial applications. LFP batteries have a lower energy density than lithium-ion batteries, making them ideal for shorter-range applications.

First production is targeted for 2027, and there is potential for further plant expansion as demand grows. Subscribers to Industrial Info’s Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here to read a detailed project report.

Also next quarter, Cummins plans to begin a $580 million upgrade project at its diesel engine-manufacturing plant in Rocky Mount, North Carolina. As Cummins aims to reach net-zero carbon emissions across its product portfolio, the project involves installing new equipment and upgrading assembly lines to produce a new fuel-agnostic engine platform. Cummins’ fuel-agnostic engines are heavy-duty engines that can run on different fuel types, including low-to-zero carbon fuels such as natural gas and hydrogen. Click here to read more information on the project, which also is expected to wrap up in 2027.

In Cummins’ second-quarter earnings conference call on August 1, Chief Financial Officer Mark Smith said he expects the company’s capital investments for full-year 2024 to be in the range of $1.2 billion to $1.3 billion, “unchanged from three months ago, as we continue make critical investments in new products and capacity expansion to support future growth.”

But Cummins’ activity only represents a portion of the total investment value of U.S. heavy-manufacturing projects planned to kick off in the fourth quarter.

Textron Incorporated (Fort Worth, Texas), through its aerospace-manufacturing division Bell Textron, is gearing up for a $429 million renovation of its aircraft part-manufacturing plant in Fort Worth. Work entails renovation and structural modifications to the 447,373-square-foot facility, as well as the construction of a new 5,400 square-foot building. According to local news media reports, the investment will include $272 million for manufacturing equipment and $157 million in real estate and allow Bell Textron to manufacture components for its newest attack helicopter for the U.S. Army. Industrial Info is tracking a completion date of late 2028. Subscribers can read a detailed project report.

Another aircraft-related project set to kick off next quarter is attributed to GE Aerospace (NYSE:GE) (Boston, Massachusetts), which was spun off from General Electric earlier this year.

GE will be expanding its 3.4 million-square foot engine-manufacturing plant in Essex County, Massachusetts, where it also performs engine testing, to support production of U.S. and allied military helicopters and fighter-jet engines. The project is expected to wrap up in 2025. Click here to read more project information.

Other heavy-manufacturing projects are related to machinery and equipment for a variety of industrial markets. Toyota Material Handling, which manufactures, distributes, and sells material handling vehicles and industrial equipment for Toyota, broke ground earlier this year on a $100 million grassroot manufacturing plant in Columbus, Ohio solely devoted to the production of electric forklifts. Click here to read more information on construction of the plant, which Toyota expects to open in June 2026.

Toyota’s electric forklifts can either run on lead-acid or lithium-ion batteries. They are made with fewer moving parts than traditional gas-powered forklifts, making them easier to maintain and less likely to experience wear and tear.

Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

Click here for a full list of reports for heavy-manufacturing projects that are set to begin construction across the U.S. in the fourth quarter.