UK businesses will spend over 90 billion GBP on products to support the advanced manufacturing industry in 2017, making the UK an attractive proposition to overseas investors.
Between 2005 and 2015, manufacturing productivity grew 3 times faster than the rest of the UK’s economy as a whole.
The industry is currently made up of over 90,000 companies and employs 2.7 million people according to the Engineering and Employers Federation.
Advanced manufacturing contributes over 162 billion GBP to the UK’s economy which places us 9th in the global economy. Research and development is high, at 13.5 billion GBP every year, accounting for almost 70% of the total spend across all industries.
The UK is competitive in high tech areas such as metrology and is set to grow in areas like:
Composites UK’s strategy for delivering growth has identified opportunities for composites increasing from 2 billion GBP to 12 billion GBP by 2030.
As the UK increases its development and use of automated systems in manufacturing, there will be opportunities in the servicing, manufacture and installation of these technologies.
If you are thinking about investing in the UK, contact our investment services team about insights, connections and incentives.