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ME393: Mechanical Engineering Senior Projects : Industries, Companies & Products

North American Industry Classification System (NAICS)

NAICS is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. Using these codes enables targeted industry searches in databases such as Business Insights: Essentials.

NAICS was introduced in the United States in 1997 to replace the Standard Industrial Classification system

Standard Industrial Classification Code (SIC Code)

This system was developed in the 1930s by the Interdepartmental Committee on Industrial Statistics, established by the Central Statistical Board of the United States. Although it was last revised in 1987 many databases still include it as part of their indexing. In some cases, particularly when it comes to retail, using SIC codes is better or more efficient than using NAICS codes.

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