Wireless factory automation has been receiving much interest in recent years due to its advantages of low cost and high flexibility over the traditional wired networks. Factory automation is also considered as one of the important use-cases of the 5th generation (5G) cellular system. In this paper, we present comprehensive system level simulation results to evaluate the performance of LTE and new 5G radio-interface design concepts in a realistic factory deployment scenario. We believe that our detailed evaluation studies bring valuable insights to show the potential of 3GPP technologies for different factory use-cases.