UK aerospace is the world's second
largest national aerospace industry and the largest in Europe.
UK aerospace
employs 151,000 directly and a further 350,000 people indirectly.
33% of all UK
aerospace industry employees hold a degree or equivalent qualification.
The UK Aerospace
industry supply chain comprises over 2000 companies distributed throughout
the UK.
In 2001 UK based
turnover reached over £18 billion, 60% of which was exported.
UK aerospace
companies also employ nearly 47,000 people outside the UK with foreign
subsidiaries generating over £5.6 billion in turnover.
UK aerospace
sales have risen steadily since 1993, with world market share increasing
from nine to thirteen per cent.
Aerospace exports
account for 7% of the nation's total exports.
Over the last
ten years, UK aerospace made an average of £2.5 billion annual
contribution to the UK balance of trade - last year this was £3.8
billion.
UK aerospace
is a knowledge intensive industry accounting for 9.5% of UK manufacturing's
entire R & D spend.
Around 11% of
the total workforce is involved in R & D.
In total the
industry spends 10% of its turnover on R & D of which 40% is funded
by companies.
Germany (£120 million
per annum) and France (£50 million per annum) spend more on civil
aerospace research and technology acquisition than the UK (£20
million per annum).
