Berthold Leibinger, longtime managing partner of the machine tool and technology company TRUMPF, investigates the development of the machine tool industries of Germany, Japan and the United States since 1960. Key factors such as innovations, the importance of science and the training of employees are all examined. The structure of the machine tool industry and their characteristics are highlighted. In addition to the author's own experiences during his working life, numerous discussions held with experts and company representatives have also been taken into consideration.This analysis of the machine tool industry's development in three different countries also mentions numerous influential factors that lead to success or failure. From these, Berthold Leibinger derives recommended measures for managers of machine tool companies.