NAICS 334515 Quarterly Industry Report
Instrument Manufacturing for Measuring and Testing Electricity and Ele
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 334515Sector: 33Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 334515 draws on verified data from the U.S. Census Bureau[5], Bureau of Labor Statistics[7], and the Small Business Administration[8]. Our research team compiles establishment counts, employment figures, and SBA eligibility criteria specific to electrical measurement instrument manufacturing. Reports are updated quarterly to reflect new Census releases and regulatory changes.
Industry Snapshot
Key metrics for the instrument manufacturing for measuring and testing electricity and ele industry.
Industry Definition & Overview
Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (NAICS 334515) encompasses establishments primarily engaged in manufacturing instruments for measuring and testing the characteristics of electricity and electrical signals. Products include voltmeters, ammeters, ohm meters, wattmeters, multimeters, oscilloscopes, spectrum analyzers, semiconductor test equipment, circuit testers, and signal generators. The U.S. Census Bureau[5] classifies this within the Navigational, Measuring, Electromedical, and Control Instruments Manufacturing subsector.
This industry serves electronics manufacturers, electrical utilities, telecommunications companies, and research laboratories requiring precision measurement of voltage, current, resistance, frequency, and signal quality. Semiconductor test equipment represents the highest-value product segment, with automated test systems costing millions of dollars per installation. Production combines precision electronic design, software-intensive instrument firmware, and mechanical engineering for ruggedized enclosures and probe systems designed to function reliably in factory and field environments.
Domestic manufacturers compete on measurement accuracy, speed, and software capability rather than price alone. Calibration services traceable to NIST[6] standards are integral to the product offering. Electric utility smart grid deployments have expanded demand for power quality analyzers and advanced metering test equipment beyond traditional laboratory and manufacturing applications, broadening the customer base for electrical measurement instruments across the energy sector. 5G telecommunications deployment has similarly driven demand for millimeter-wave test equipment capable of characterizing signals at frequencies above 24 GHz.
What's Included in This Industry
- Voltmeter and ammeter manufacturing
- Multimeter and digital meter production
- Oscilloscope manufacturing
- Spectrum analyzer and signal analyzer production
- Semiconductor automated test equipment manufacturing
- Circuit and continuity tester production
- Wattmeter and power analyzer manufacturing
- Signal generator and function generator production
- Insulation resistance tester manufacturing
- Electric utility meter and test equipment production
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Computer and Electronic Product Manufacturing | 334 |
| Industry Group | Navigational, Measuring, Electromedical, and Control Instruments Manufacturing | 3345 |
| NAICS Industry | Navigational, Measuring, Electromedical, and Control Instruments Manufacturing | 33451 |
| National Industry | Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals | 334515 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 334513 | Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables | Manufactures instruments for industrial process variables like temperature and pressure rather than the electrical parameter measurement instruments classified under this code |
| 334516 | Analytical Laboratory Instrument Manufacturing | Produces analytical laboratory instruments for chemical composition analysis rather than electrical signal measurement and testing instruments manufactured here |
| 334514 | Totalizing Fluid Meter and Counting Device Manufacturing | Manufactures totalizing fluid meters and counting devices for utility consumption measurement rather than electrical testing and signal analysis instruments |
| 334519 | Other Measuring and Controlling Device Manufacturing | Produces other measuring and controlling devices not specifically classified under electrical, process, or environmental control instrument categories |
| 334413 | Semiconductor and Related Device Manufacturing | Manufactures semiconductor devices that are tested using automated test equipment produced by establishments classified under this electrical instrument code |
| 334511 | Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing | Produces search and navigation systems sharing precision electronic measurement capabilities but serving defense and aerospace applications rather than general testing |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 25.0% | 165 |
| 2 | Texas | 7.7% | 51 |
| 3 | Massachusetts | 6.4% | 42 |
| 4 | Florida | 5.9% | 39 |
| 5 | New York | 4.4% | 29 |
| 6 | Michigan | 3.9% | 26 |
| 7 | New Jersey | 3.6% | 24 |
| 8 | Ohio | 3.5% | 23 |
| 9 | Pennsylvania | 3.5% | 23 |
| 10 | Illinois | 3.5% | 23 |
% Of Establishments
0%
25%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
24
Total SBA Loans
$4.3M
Total Loan Volume
$181K
Average Loan Size
10 yrs
Average Loan Term
11.85%
Average Interest Rate
32
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 334515 at 750 employees. Firms below this threshold qualify for small business set-aside contracts and SBA-backed lending programs. Federal procurement opportunities include test equipment for military electronics depots, semiconductor testing instruments for government research facilities, and power quality monitoring equipment for federal utility systems. The SBA's contracting programs[9] support manufacturers pursuing Department of Defense and Department of Energy instrumentation contracts. 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 | Readycap Lending, LLC | 8 | $1.7M | $211K |
| 2 | JPMorgan Chase Bank, National Association | 8 | $1.4M | $181K |
| 3 | BayFirst National Bank | 8 | $1.2M | $150K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 334515?
Manufacturers of electrical measurement and testing instruments classify here. This includes producers of voltmeters, multimeters, oscilloscopes, spectrum analyzers, semiconductor test equipment, circuit testers, and signal generators per the Census Bureau[5] classification.
How is the electrical instrument manufacturing industry structured?
The industry includes a few dominant multinational firms producing broad product portfolios alongside hundreds of specialty manufacturers focused on specific measurement niches. Semiconductor automated test equipment producers represent the highest-revenue segment per Census Bureau[12] data, with individual test systems commanding premium prices due to their technical sophistication.
What is the SBA size standard for NAICS 334515?
The SBA[8] sets the threshold at 750 employees. Businesses with fewer than 750 average employees qualify as small for federal procurement preferences and SBA-backed financing programs including 7(a) and 504 loans.
What NAICS codes are related to electrical instrument manufacturing?
Related codes include 334513 (Industrial Process Instruments), 334516 (Analytical Laboratory Instruments), 334514 (Fluid Meters), 334519 (Other Measuring Devices), and 334413 (Semiconductor Manufacturing). The key boundary separates electrical signal testing from industrial process measurement and chemical analysis instruments.
What industries purchase electrical test and measurement instruments?
Semiconductor manufacturers, electronics assembly firms, telecommunications operators, electric utilities, and defense contractors represent the primary customer base. Research universities and government laboratories also maintain large installed bases of oscilloscopes, spectrum analyzers, and specialized test equipment for scientific investigation.
What activities are included in NAICS 334515?
Core activities include manufacturing digital multimeters, producing oscilloscopes and spectrum analyzers, building semiconductor wafer probe and final test systems, fabricating circuit and continuity testers, manufacturing power quality analyzers, and producing signal generation instruments. NIST-traceable calibration services and application engineering support are standard supplemental activities.
Can electrical instrument manufacturers qualify for SBA loans?
Yes, firms below 750 employees qualify for SBA lending programs[9] including 7(a) and 504 loans. Precision electronic assembly equipment, shielded test chambers, and calibration laboratory infrastructure represent capital investments commonly financed through SBA 504 structures.
Where are electrical instrument manufacturers concentrated?
Manufacturing clusters in regions with strong electronics and semiconductor industry presence, including California's Silicon Valley, Oregon, and the Northeast corridor. Texas and the Research Triangle area of North Carolina also host concentrations of test equipment producers serving the telecommunications and semiconductor sectors.
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]NIST nist.gov
- [7]Bureau of Labor Statistics bls.gov
- [8]Small Business Administration sba.gov
- [9]SBA's contracting programs sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]504 loans sba.gov
- [12]Census Bureau data.census.gov
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