Book excerpt: This collection of papers, presented at the 11th International Conference on Precision Engineering, offers a broader global perspective on the challenges and opportunities ahead. The discussion encompasses leading-edge technologies and forecasts future trends. Coverage includes advanced manufacturing systems; ultra-precision- and micro-machining; nanotechnology for fabrication and measurement; rapid prototyping and production technology; new materials and advanced processes; computer-aided production engineering; manufacturing process control; production planning and scheduling, and much more.