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declining industry

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declining industry

An industry whose output is declining over time. In the UK, the shipbuilding and textile industries declined in the 20th century. A declining industry is also associated with a fall in employment in the industry. There may be several causes, including the loss of consumer demand, the depletion of natural resources, or replacement by technological innovation.



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When I got through the interview process I thought it was a sign - I am a mechanical engineer working in a declining industry and this was maybe something different.
The conventional munitions industrial base today is a declining industry for which 56 percent of the end items have no peacetime demand, capital assets have been allowed to deteriorate, and 70 percent of the firms have exited leaving over 300 critical single points of failure.
Norske Skog is still struggling in a declining industry.
 
 
 
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