This note analyses key statistics and presents details of how Government policy supports the industry.Jump to full report >>
The Government consider the aerospace industry a “phenomenal success story” and a sector that offers “tremendous opportunities for growth”.
According to an industry survey the UK has a 17% global market share in aerospace industry revenues, making it the largest in Europe and second only to the US worldwide.
In 2013, the industry
• Had a turnover of £25 billion
• Employed 84,000 people
• Contributed £9.4 billion to the economy
In 2014, the UK exported aerospace goods worth £10.5 billion and imported aerospace goods worth roughly the same.
The Coalition Government has created the Aerospace Growth Partnership Group to support the industry, prioritised advanced manufacturing in its 2011 Growth Review, created the UK Aerospace Technology Institute in March 2013 and has supported exports through UK Export Finance.
Commons Briefing papers SN00928
Authors: David Hough; Chris Rhodes; Matthew Ward; Chris Rhodes