Building The World’s Largest Passenger Aircraft Wings
Employing more than 150,000 people and exporting around 60% of its output, the UK’s aerospace industry is the second largest in the world and is responsible for 9.5% of the UK’s total research and development (2001). In 2001, the national turnover was over £18bn and, in terms of value added business, it is second only to the United States. A recent DTI study highlighted aerospace as the UK’s most globally competitive industry – a key measure of its global success being its penetration of the US market. For instance, 60% of all the US’s aerospace subsystems imports are British. It is a high-skills industry, with wages 20% higher than the manufacturing average. With total world-class capabilities, strength in manufacture and research, and initiatives to maintain and improve its competitive edge, aerospace is a key sector in the UK economy and a major player in the global market.
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