One of the areas for growth for fluid power technology including hydraulic and pneumatic systems and components is the area of new technology. New Tech vs. High Tech to me means technology that solves current problems.
I would include energy at or near the top of the New Tech list with applications like wind energy, wave energy, and hybrid vehicles. Many of the companies that make up the fluid power industry are now devoted to New Tech markets. I personally visit with many component manufacturers and suppliers in the fluid power industry and most of them are telling me about their involvement in New Tech.
Again, if our companies will continue to focus on progress in these New Tech markets as well as maintaining and developing current tech markets, we will be in for a good 2009 despite the overall economy. Stimulate progress while protecting our core business.
I have a lot of confidence in the companies that make up the fluid power industry. I believe that the better companies will continue to grow and prosper because of the great opportunities offered by existing and New Tech markets.
Fluid Power remains the right design choice in many applications. It is the only logical design choice in many applications. As we move into the Fall of 2009, companies are committing resources to a great 2009 and I like our chances.