There are many different brands and kinds of cutting tools. They can all do something different. Some kinds of cutting tools are: Broach, Endmill, Reamer, Drill bit, Tool bit, Countersink, Diamond Blade,and Diamond tools.
A broach is a tool that has multiple chisel points. It is also used to cut steel and brass. A endmill is a metal cutting tool that can cut in all directions when a regular drill bit can only cut in one direction. The reamer is a tool used to make a hole that is already made to be more precise or even. The countersink simply makes a hole. A diamond blade is a round blade that grinds hard and abrasive materials.
Machine tool builders have been working on developing new kinds of tools. Tools will have to change as the times change. Some things they consider is how deep the cut, geometric measurements, the type of cut, the angle, or something that can be made from exotic metals. Even with consideration of making ceramic tools and diamond tools. Its all about taking speed to a new level.
All of the tools can be used for machinery or just to use in your own hobby time. These can be used to cut or drill out art pieces, making metal or steel crafts, and just to clean up edges on something you have already been working on.
Most of these tools can be purchased at your local hardware stores if you seem to be in need of them. Some stores would include your local Lowes or Home Depot.

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