defense-aerospace.com
all the defense and aerospace news
defense news
aerospace news

UK Aerospace - A World Class Industry



Data released today by the SBAC shows that the position of the UK Aerospace Industry as a dominant force in the world aerospace market was strengthened in 1998. The figures released not only show the UK Aerospace Industry as being world-class, but that it is also the largest aerospace industry in Europe.

UK aerospace continues to make a substantial contribution to wealth creation with a total turnover of £17.3 billion (an increase of £2.24 billion on 1997) and a positive trade balance of £2.6 billion. New orders for the year reached £21 billion.

Overseas markets continued to be of great importance in 1998 with over 67% of the UK aerospace turnover exported and UK-owned companies based overseas generating £3.1 billion in turnover and employing 34,000 people.

Aerospace is widely spread across the UK with major clusters of aerospace companies found in the majority of UK regions. UK aerospace continues to be a source of highly skilled employment and employs 155,000 people directly (121,000 in 1997) and over 350,000 when indirect employment is included. These employment figures mean that UK aerospace employees make up a third of the European total in UK aerospace continues to make a substantial contribution to wealth creation with a total turnover of £17.3 billion (an increase of £2.24 billion on 1997) and a positive trade balance of £2.6 billion. New orders for the year reached £21 billion.

Overseas markets continued to be of great importance in 1998 with over 67% of the UK aerospace turnover exported and UK-owned companies based overseas generating £3.1 billion in turnover and employing 34,000 people (see Notes 2 & 3).

Aerospace is widely spread across the UK with major clusters of aerospace companies found in the majority of UK regions. UK aerospace continues to be a source of highly skilled employment and employs 155,000 people directly (121,000 in 1997) and over 350,000 when indirect employment is included. These employment figures mean that UK aerospace employees make up a third of the European total in aerospace.

Read SBAC Report

-ends-


UK Aerospace - A World Class Industry