Sir David founded Renishaw to commercialise the 3D touch-trigger probe for co-ordinate measuring machines. He had invented the probe the previous year to solve measurement problems faced in the manufacture of the Olympus engines that powered the Concorde supersonic aircraft.
A brilliant engineer, he was employed at Rolls-Royce plc, Bristol, for 17 years, where became the company's youngest ever Assistant Chief of Engine Design.
He was responsible for 47 patents at Rolls-Royce and went on to be named on more than 200 patents for Renishaw innovations.
As Renishaw grew worldwide, Sir David was given numerous foreign honours and accolades, including in Japan and the USA.
In 2008, the official magazine of the US Society of Manufacturing Engineers honoured him as a 'Master of Manufacturing', the first time that this recognition had been given to a non-US citizen.
But whilst he was frequently honoured in later life, he was a shy man who avoided publicity and was said to be happier in the company of young engineers at the company he helped build.
Today, Renishaw's board paid tribute to him in a statement.
The company said: "Sir David will be greatly missed by so many, including the generations of Renishaw engineers who he inspired and mentored. The manufacturing industry has lost a great innovator and many at Renishaw have lost a father figure and a friend."