The annual Midlands Aerospace Alliance survey of member companies reveals that business turnover and employment continue to grow at a rapid pace in 2013 -- with 17% and 8% growth respectively.
The results confirm that the strong position of the region's industry in global growth markets, especially for large civil airliners in Asia, is flowing through to increased economic activity and jobs in the Midlands.
The annual Midlands Aerospace Alliance survey of member companies reveals that business turnover and employment continue to grow at a rapid pace in 2013 -- with 17% and 8% growth respectively. The results confirm that the strong position of the region's industry in global growth markets, especially for large civil airliners in Asia, is flowing through to increased economic activity and jobs in the Midlands.
According to MAA chief executive Dr Andrew Mair: "The Midlands aerospace cluster is well positioned to take advantage of growth in emerging markets, in Asia in particular. A key focus of our region's industry is making aero-engines and mechanical systems that go into the big Airbus and Boeing civil airliners for which demand is high across the world. It is not surprising to see that our growth parallels that of these aircraft makers."
The data also reveal the contribution the Midlands aerospace cluster is playing in the national UK context. Since 2005, Midlands aerospace business turnover has grown 80% and employment 40%, while the national economy has been flat. Aerospace manufacturing is responsible for 45,000 full-time-equivalent jobs in the region, shared across the larger companies and their supply chains.
Note
The MAA business survey is conducted every spring and measures the current state of the industry compared to previous years. The MAA has 250 member companies, and a high proportion of them respond to the survey, making it an excellent leading-edge indicator of the health of the industry today.
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