Capital goods are goods that are used to produce other goods, rather than being bought directly by consumers these are durable items that are man-made and used by businesses to manufacture goods and services.
The term capital goods can include anything from simple electronic equipment to complex engines and Construction equipment .
What Comes Under the Capital Goods Sector?
Companies that produce goods for any of the following industries are typically in the capital goods sector:
- Electronics
- Furniture
- Infrastructure
- Musical instruments
- Networking equipment
- Power technology
- Construction
- Aerospace
- Automobile
- Tools
What Companies are in the Capital Goods Field?
Here are some of the major businesses thriving in the capital goods field.
3M
3M was established in 1902 and has its headquarters in Minnesota. It manufactures around 60,000 different types of products and is located in over 200 countries. They produce window films, paint protection films, adhesives, and more.
Employees at 3M often have the following benefits:
- Stock options
- Health insurance
- Vision and dental insurance
- Paid vacation leaves
- Retirement plans
ABB
ABB is part of the mining, energy and utility industry of the capital goods sector. Founded in 1898, the company has grown to an employee size of 10,000. ABB is known for its production of circuit breakers, switches, cable systems, control products and other electronic equipment. It also offers system repair and installation services. In 2021, ABB boasted an 81.5 percent sales growth (with revenue standing at $26,000).
Employees are offered the following benefits:
- Paid leaves
- Health insurance
- Dental and vision insurance
- Disability insurance
- Retirement plans and life insurance
General Electric
GE was established in 1889 and has its headquarters in Massachusset. It is a manufacturing company that creates products for aviation, renewable energy, power, and health care sectors. They produce aircraft engines, software, weapons, wind turbines, electric motors, and more. GE’s revenue in 2021 was $20.3 billion.
The company offers the following benefits to its employees:
- Signing bonus
- Flexible work schedules
- Paid vacation leaves
- Medical insurance
- Dental and vision insurance
- Disability insurance
Honeywell International
Honeywell International manufactures items for the chemical, automotive, aerospace, and industrial control sectors. Honeywell creates chemicals, automotive products, engineered materials, plastics, and more.
Its roster of employee benefits includes the following:
- Life insurance
- Sign-on bonus
- Retirement plans
- Parental leave
- Health insurance
Lockheed Martin
Lockheed Martin is based in Maryland and was established in 1995. It is another company in the aerospace and defense industry. In 2021, Lockheed Martin grossed $67 billion in income.
Employees of Lockheed Martin benefit from the following:
- Relocation assistance
- Paid vacation leaves
- Health insurance and dental insurance
- Tuition reimbursement
- Flexible schedules
