The Midlands aerospace industry is flying high, according to a leading manufacturing commentator.
Johnathan Dudley, Midlands Managing Partner and Head of UK Manufacturing Business for national audit, tax and advisory firm Crowe Clark Whitehill, highlighted the buoyant performance ahead of Farnborough International Air Show later this month.
The firm is taking a delegation to the show which is celebrating 100 years of aviation including a four and a half hour flying display, featuring among others the first view of the Lockheed BAe joint venture aircraft that will be based on HMS Queen Elizabeth and HMS Prince of Wales, our new aircraft carriers.
Citing the recently released annual Midlands Aerospace Alliance survey of member companies, Mr Dudley noted: “The report revealed that business turnover and employment continue to grow in 2014, five per cent and four per cent respectively.
“Specifically, it highlighted how our strong position in global growth markets, especially for large civil airliners, is flowing through to increased economic activity and jobs in the Midlands.
“That is tremendous news and long may the sector thrive. Along with automotive it is one of the bastions of the economy.”
Aerospace manufacturing is responsible for 45,000 full-time-equivalent jobs in the Midlands, shared across the larger companies and their supply chains.
Mr Dudley pointed too to a second major report which put the global backlog in aircraft orders at 11,392, equating to nine years’ work for the UK aerospace industry.
Hailing the industry’s contribution to the British economy, the aerospace trade body ADS said the sector had grown 10 times faster than the rest of the economy over the past three years – up 9.4 per cent in 2013, with a turnover of £27.8 billion. Two-thirds of UK aerospace companies expect to grow by more than ten per cent over the next year.
The aerospace industry in the UK includes the European manufacturer Airbus, which makes its wings in Broughton, in north Wales, and has a design and testing facility in Filton, near Bristol. Other big employers in the UK include the helicopter manufacturer AgustaWestland and Midlands headquartered engine maker Rolls-Royce – as part of the announcement of its results for 2013, Rolls-Royce reported that its order book increased 19 per cent to £71.6 billion.
About 110,000 people are directly employed in the UK aerospace industry.
However, problems with accessing finance, an uncertain global economic backdrop, and lack of skilled workers are cited as potential barriers to growth.
Mr Dudley, who also leads the Crowe Clark Whitehill Manufacturing Business Network, said the Farnborough trip was aimed at bringing locally based manufacturers and suppliers together.
He added: “It is a bi-annual chance to mix with major manufacturers of military, civil aircraft and premium automotive/autosport together with their supply chains.
“The visit will be of great value to manufacturers, helping them to network and share best practice as well as enjoying the air display.”
