UK Aerospace Jobs Boost

Direct employment in the UK aerospace industry has increased by 9 per cent to 124,237 says the Society of British Aerospace Companies (SBAC). Its 2006 Annual Aerospace Survey published today (10 July), shows that 9,900 new jobs have been generated in the last year on the back of record high levels of new orders and a 25 per cent increase in sales.

Highlights from the 2006 survey include:

- Record levels of new orders increasing by 33 per cent to pound30.7 billion.
- Productivity increasing by 15 per cent, ahead of the 5 per cent per annum long-term trend.
- Aerospace defence sales up 30 per cent to pound12.2 billion, civil aerospace up 18 per cent at pound10.5 billion and the space sector up 38 per cent to pound603 million.
- Direct employment up 9 per cent to 124,237 jobs, with the sector supporting a total of 276,000 jobs in the UK.
- Abroad - UK aerospace companies employ 43,000 people and generate pound6.4 billion of turnover outside the UK.

Commenting on the 2006 survey, Chris Geoghegan, SBAC President said, "The aerospace industry has had a phenomenal year with substantial increases in turnover, employment, R&D investment and record levels of new orders. The sector has demonstrated a remarkable resilience and has world leading companies across a range of products and technologies"

SBAC's Annual Aerospace Survey represents the most comprehensive analysis of companies supplying the civil air transport, aerospace defence and space sectors. This benchmark study helps explain what has been happening in the past year and provides a clear signal of the prospects for the year ahead. This year it shows that:

- Aerospace invested pound2.7 billion in research & development, 31 per cent higher than last year.
- Aerospace made a positive net contribution of pound2.25 billion to the UK balance of trade.
- Turnover in the UK aerospace industry increased by 25 per cent to pound22.67 billion.

Dr Sally Howes, SBAC Director General said, ''An increase in employment, record order books and salaries 31.6 per cent above the manufacturing average are some of the reasons why the aerospace industry is so incredibly important for the UK economy. The sector remains at the forefront of technological development delivering high value manufacturing jobs and success in tough global markets."

Source : SBAC