Precision measurement is the precondition and basis of advanced manufacturing development. As the eyes of intelligent manufacturing, precision measurement greatly improves the production efficiency, reduces the production cost, and directly promotes the development of human society. Under the background of manufacturing informationization, as the pilot technology of advanced manufacturing, precision measurement methods and instrumentation technology must be advanced or synchronized with advanced manufacturing, and provide information support for the precision, integration, intelligent development of the advanced manufacturing. This paper summarizes the current situation and research contents of modern precision measurement technology in industrial production and scientific research, emphatically describes the latest technologies applied in precision measurement, how the precision measurement migrates from laboratory to production line, and the future development trend and direction of precision measurement technology.