NAICS 334418 Quarterly Industry Report
Printed Circuit Assembly (Electronic Assembly) Manufacturing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 334418Sector: 33Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 334418 compiles verified data from the U.S. Census Bureau[6]_Manufacturing?n=334418), Bureau of Labor Statistics[7], and the Small Business Administration[8]. Our research team tracks establishment counts, employment figures, payroll data, and SBA eligibility criteria specific to printed circuit assembly and contract electronics manufacturing. Reports are updated quarterly to reflect current Census releases and regulatory changes.
Industry Snapshot
Key metrics for the printed circuit assembly (electronic assembly) manufacturing industry.
Industry Definition & Overview
Printed Circuit Assembly (Electronic Assembly) Manufacturing (NAICS 334418) encompasses establishments primarily engaged in loading components onto printed circuit boards or manufacturing and shipping loaded printed circuit boards. These assemblies, also called electronics assemblies or modules, serve as inputs to a broad range of electronic systems and devices. The U.S. Census Bureau[5] distinguishes this industry from bare printed circuit board fabrication classified under NAICS 334412 and from printed circuit laminate production under NAICS 334419. Additionally, census data reports 768 businesses with 821 establishment locations operating in this industry, employing approximately 48,500 workers with total annual payroll exceeding $3.2 billion according to Census Bureau figures[6]_Manufacturing?n=334418). Contract electronics manufacturing services (EMS) firms comprise a large portion of this sector, providing turnkey assembly, testing, and box-build services for original equipment manufacturers. Surface mount technology (SMT) lines, wave soldering equipment, automated optical inspection systems, and X-ray inspection machines represent standard production capital. California and Texas host the largest concentrations of printed circuit assembly operations, driven by proximity to Silicon Valley technology firms and major defense contractors. Production ranges from high-volume consumer electronics assembly to low-volume, high-mix military and medical device board builds. Quality management systems certified to AS9100 for aerospace or ISO 13485 for medical devices differentiate manufacturers competing for regulated industry contracts requiring full traceability and controlled environments.
What's Included in This Industry
- Surface mount technology (SMT) component placement
- Through-hole component insertion and soldering
- Wave soldering and reflow soldering operations
- Automated optical inspection of loaded boards
- Printed circuit board functional testing
- Box-build and system integration assembly
- Cable and harness assembly for electronic modules
- Conformal coating and potting services
- Ball grid array (BGA) rework and repair
- Prototype and quick-turn assembly services
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Computer and Electronic Product Manufacturing | 334 |
| Industry Group | Semiconductor and Other Electronic Component Manufacturing | 3344 |
| NAICS Industry | Semiconductor and Other Electronic Component Manufacturing | 33441 |
| National Industry | Printed Circuit Assembly (Electronic Assembly) Manufacturing | 334418 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 334412 | Bare Printed Circuit Board Manufacturing | Manufactures bare printed circuit boards that serve as the primary substrate onto which components are loaded by assembly operations in this industry |
| 334419 | Other Electronic Component Manufacturing | Produces printed circuit laminates and other electronic components classified separately from the component loading and assembly operations covered here |
| 334416 | Capacitor, Resistor, Coil, Transformer, and Other Inductor Manufacturing | Supplies passive electronic components including capacitors, resistors, and inductors that are mounted onto printed circuit boards during assembly processes |
| 334413 | Semiconductor and Related Device Manufacturing | Manufactures semiconductor devices and integrated circuits that represent the primary active components placed onto boards during circuit assembly operations |
| 334417 | Electronic Connector Manufacturing | Produces electronic connectors mounted on assembled printed circuit boards for board-to-board and board-to-wire interconnection in finished systems |
| 334210 | Telephone Apparatus Manufacturing | Telephone equipment manufacturers purchase loaded circuit assemblies as inputs but produce finished communication products classified under a separate industry code |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 23.5% | 198 |
| 2 | Texas | 6.5% | 55 |
| 3 | Illinois | 5.7% | 48 |
| 4 | Pennsylvania | 5.0% | 42 |
| 5 | Florida | 5.0% | 42 |
| 6 | Minnesota | 4.7% | 40 |
| 7 | New York | 4.3% | 36 |
| 8 | Ohio | 4.3% | 36 |
| 9 | Michigan | 3.4% | 29 |
| 10 | New Hampshire | 3.2% | 27 |
% Of Establishments
0%
23%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
56
Total SBA Loans
$42.1M
Total Loan Volume
$752K
Average Loan Size
12 yrs
Average Loan Term
9.67%
Average Interest Rate
1,144
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[8] sets the size standard for NAICS 334418 at 750 employees. This threshold reflects the labor-intensive nature of electronics assembly operations, particularly for low-volume, high-mix production runs. Qualified small businesses gain access to federal set-aside contracts for military electronics assembly and government system integration work. The SBA's financing programs[9] support capital equipment purchases for SMT lines and inspection systems that require substantial upfront investment. Eligible businesses can access SBA 7(a) loans[10] for working capital, equipment, and acquisition financing, while 504 loans[11] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Drake Bank | 8 | $15.4M | $1.9M |
| 2 | Colony Bank | 8 | $7.8M | $970K |
| 3 | Capital One, National Association | 8 | $6.6M | $822K |
| 4 | NBT Bank, National Association | 8 | $4.0M | $500K |
| 4 | JPMorgan Chase Bank, National Association | 8 | $4.0M | $500K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 334418?
This code covers establishments that load electronic components onto printed circuit boards. Contract electronics manufacturing services (EMS) companies, turnkey assemblers, and firms producing loaded board modules all classify here. The Census Bureau[5] excludes bare board fabricators and manufacturers of finished products incorporating loaded boards.
How large is the printed circuit assembly industry?
Census Bureau[6]_Manufacturing?n=334418) data identifies 768 businesses operating at 821 locations nationwide, with total employment of roughly 48,500 workers. Annual payroll exceeds $3.2 billion. The industry ranges from large EMS corporations running high-volume automated lines to small shops specializing in prototype and quick-turn assembly services for defense and medical customers.
What is the SBA size standard for printed circuit assembly manufacturing?
The SBA[8] sets the threshold at 750 employees for NAICS 334418. Firms with fewer than 750 average employees over the prior 24 months qualify as small businesses for federal contracting set-asides and SBA-backed loan programs.
What NAICS codes are related to printed circuit assembly?
Key related codes include 334412 (Bare Printed Circuit Board Manufacturing), 334416 (Capacitor and Inductor Manufacturing), 334413 (Semiconductor Manufacturing), 334417 (Electronic Connector Manufacturing), and 334419 (Other Electronic Components). The primary distinction is that 334418 covers component loading onto boards while 334412 covers board fabrication.
What industries rely on printed circuit assembly manufacturers?
Defense contractors, medical device companies, telecommunications equipment producers, and automotive electronics firms all depend on contract assemblers for board-level production. Industrial controls manufacturers and aerospace systems integrators also outsource printed circuit assembly to certified EMS providers.
What activities does printed circuit assembly manufacturing include?
Core activities include surface mount component placement, through-hole insertion, wave and reflow soldering, automated optical inspection, X-ray inspection of hidden solder joints, functional testing, conformal coating, box-build integration, and cable use assembly. Many firms also provide design-for-manufacturability review and prototype services.
Can printed circuit assembly firms qualify for SBA loans?
Yes, firms below the 750-employee threshold qualify for SBA lending programs[9] including 7(a) and 504 loans. SMT placement machines, reflow ovens, and inspection equipment represent capital-intensive purchases well suited to SBA 504 equipment financing structures.
Where are printed circuit assembly manufacturers concentrated?
California and Texas host the largest clusters, driven by proximity to technology firms and defense contractors. Other concentrations exist in the upper Midwest, Southeast, and New England regions. Many EMS firms maintain multiple facilities to serve regional customers and provide redundancy for critical production programs requiring supply chain resilience.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Census Bureau figures data.census.gov
- [7]Bureau of Labor Statistics bls.gov
- [8]Small Business Administration sba.gov
- [9]SBA's financing programs sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]504 loans sba.gov
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